A decade ago, nine out of ten companies unequivocally encouraged top-down and bottom-up communication, which over the course of time was realized to add to the flux rather than ease workflow. However, this futile practice has been finally put to rest, replaced by objectively transparent communication channels. Today, if employers are not transparent about the company's future, then employees always have multiple news outlet or the social media to keep them informed. But this leads to distrust and inversely affects the productivity of the company.
Here's why it is imperative for companies to have a transparent line of communication.
Builds employee confidence
Employees are drawn to companies which are forthcoming, with regards to important information. Just like in your day-to-day life you expect your friends or family to be honest and sincere, employees too require some level of transparency from their employers to develop a relationship with them. Therefore, if you want to pull in the best talent, ensure your company is the epitome of transparency.
To win customer and client trust
Trust is the by-product of transparency. If a company refuses to disclose important information to its clients and customers, it is highly likely that its patrons won't want to maintain any further business ties with the company. Trust has the capacity to defeat corruption and hence, more and more companies today are encouraging transparency like never before.
Optimum level of productivity
When there is a well-established communication channel, you leave nothing to chance and the results speak for themselves. Employees generally favour open-ended communication, little else increases productivity quite like transparency. When employees believe that they are on the same page as their employers, the trust deepens and their working relationship becomes more productive. It is upon the leaders of the company to encourage transparency so that employees can communicate their grievances freely with the top management.
Better employee engagement
If your employees know that their opinions and suggestions are valued, they'll be more forthcoming with their point of views. However, how can one expect employees to share informed opinions if they are not updated about the company's strategy? It is for this very reason that employers should hold bi-weekly meetings to update employees on company matters.
Check on unnecessary risk-taking
When there is no transparency in a company, the work done by one unit is not fully disclosed to the other unit which can lead to major mistakes. Lack of transparency makes employees take risks which they wouldn't otherwise. It is easier to discover and put an end to any violation of policies in a transparent environment and therefore open-communication is a must in today's times.
It is commonly known that transparency helps everyone do business better. Hence, a culture of transparency is needed to keep your clients and employees happy and productive.