Is transparency a buzz word or something more?
Many journalists and business leaders feel it’s a lot more. Transparency is something that’s differentiating successful companies from the ones that fall flat because both employees and consumers are demanding more openness. When employees feel like they’re part of a transparent workplace, they tend to be more engaged and more productive, while turnover often drops pretty significantly.
When consumers see a company as being transparent, they tend to be more willing to buy from that business, and it’s easier to build relationships that turn into long-term loyalty.
Working to promote transparency on both the employee and the customer ends doesn’t require different strategies. In fact, many of the strategies business leaders utilize to support internal transparency work well externally as well.
Below are four of the best ways to promote an overall sense of transparency and reap the business benefits that result.
- Create a Blog For Employees
Your business may already have a blog or several, but is it promoting transparency? Penny stock sites like Warrior Trading have become somewhat of a phenomenon.
It’s a no-restrictions look at all things trading, and while as a business owner or leader your blog may be different, the concept is the same. Create a blog where you speak to your employees honestly and truthfully on a regular basis. It will show that you’re the same as they are, and have weak points as well as triumphs.
- Share Leaders’ Performance Reviews
A lot of employees tend to dread the performance review, but why not show them company leaders not only undergo them but are also willing to share them? Take a page out of the book of
Take a page out of the book of Rand Fishkin, the president of SEOmoz. He made waves when he not only had his employees complete a performance review assessing his work, but he also posted it online, opening it to both employees and the public.
- Use Social Media
Public relations firm Weber Shandwick conducted researched that showed 76% of executives were in favor of CEOs using social media, after surveying 630 global senior professionals. When company leaders and business owners get on social media and share information, whether that’s with employees, customers or both, it gives the entire company a greater sense of transparency.
It also has the added benefit of letting business leaders dictate how a story or bit of information will play out when it hits the social media landscape.
- Be Responsive
When companies are looking for ways to promote a culture of transparency, they often overlook something incredibly valuable but also so easy, and that’s being responsive.
Zappos CEO Tony Hsieh takes responsiveness very seriously, whether it’s when he’s spending time responding to his employee’s emails, or in the way his customer service team handles all questions and inquiries. It’s this transparency that’s one way Zappos has led the way in cultivating one of the highest levels of transparency anywhere.
As a final note, transparency is becoming increasingly important, and it’s the best way to attract and retain not only the top talent for your business but also loyal customers.