As a leader, have you ever asked yourself why your employees don’t act like owners? Why they don’t always share your passion and concern for making the right (and sometimes tough) financial decisions? The answer may be in how much you are actually treating them like owners or partners.
How much information do you give them about the company, do they get the real time data that you get and transparency to orders, revenue, new customers, user retention and more? An article in The Wall Street Journal (Insights on Transparency, Financing and More - November 21, 2016) highlighted that sharing this type of information with employees can:
- Save time and increase focus - they know what metrics are important and can more easily align their decisions.
- Give employees purpose - they will feel like they are more important because you are sharing this with them
- Teach lessons from success and failure - when you share stories of what happened in good and bad decisions, employees can learn from this. They are more likely to take the right risks to make good decisions when they learn from these lessons.
We have all heard the saying ‘knowledge is power’ and the more you treat employees like your partners, share the information they need to act like a business owner, the more you will see them act in that way.
One of the most powerful things that you can do as a leader is be transparent about yourself - be authentic, people love that. Share more than just the data - share the stories of the decisions you made - both good and bad. When you share the bad decisions and what you learned, it has a powerful emotional impact. John Maxwell, internationally recognized leadership expert, speaker, and author, says every leader owes it to their people to be transparent. Your employees will feel more connected to you - we are all human - and make mistakes. Knowing that you have made them and you are still a success will be motivating to them.
Do you want your organization to grow? Shine the light, be transparent, let the people who want to help you succeed in on who you are!