Infographic created by Track Your Truck, a GPS tracking provider What does it mean to be transparent in business? From an internal standpoint, transparency mainly revolves around being honest and straightforward with employees to build trust. When team members feel they are able to share thoughts and opinions openly, it helps establish an environment where employees and company leaders can have candid conversations. Essentially, by having more open communication styles, leaders can create stronger relationships with those throughout the team. As these relationships improve and transparency becomes commonplace in the workplace, it can lead to amazing outcomes. Organizations with robust transparency policies within the company culture often experience a boost in overall company performance and, therefore, higher productivity rates. When a business is transparent externally, it refers to how the brand appears to customers, both existing and potential. By implementing the right approaches, a brand could promote a clearer, more sincere image and enhance customer interactions. Such approaches might include listing reliable pricing, removing hidden fees and providing an honest timeframe for service or delivery. These help customers set realistic expectations, rather than being let down. External transparency may also entail offering superior customer service, releasing informative newsletters and offering insight into company innerworkings. That insight could relate to overall objectives, updated inclusion policies or new environmental initiatives. The goal is to build trust with customers to alleviate potential suspicions or anxieties they might have surrounding the brand or the value of what’s being offered. What are some ways to improve transparency on both fronts? With employees, an “open-door” policy can go a long way in encouraging the sharing of input and diverse perspectives. Another recommendation is to flatten the organization. If your company has numerous layers of management or hierarchies within the departments, consider closing the gaps by restructuring. When done well, this approach helps improve communication and transparency by minimizing the distance between employees and management. As for customers, there are a lot of ways brands could project a more transparent image. The first is to keep the lines of communication open during the ordering process. From the time an order is placed until it hits their doorstep, you should be communicating via GPS tracking updates, providing accurate delivery times and following up to confirm a positive experience. Companies are also encouraged to own up to mistakes and respond to customers, especially if there’s an error, in a respectful, timely manner. Want to learn more? Check out the accompanying resource for more information as well as some additional ways to make your business more transparent.
Key Ways To Make Your Business More Transparent
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