Nothing to Hide; Hide Nothing
We’ve seen it again and again. All too many owners and managers are paranoid that their workforce might find out about the company’s finances. They don’t want them to know how much profit they earned, probably thinking they will ask for a raise. Company finances become a deep, dark secret, and management plays games to withhold information from their workforce.
It doesn’t need to be a deep dark secret. Write on a 3 × 5 card: “Let everyone know how we make money (or measure success). Once they know, they’ll be in a better position to help.”
When Sears Roebuck hired a new CEO, he quickly became concerned that his workforce misunderstood profit, mark-up, and what Sears truly makes when they make a ...