Dive Brief:
- Workplace transparency is buzz phrase that’s bandied about at companies large and small. But as many organizations have learned, only paying it lip service could ultimately come back to bite them, according to a contributed article at Fortune.
- Robert Hohman, CEO of Glassdoor, the website that tracks employee feedback about employers past and present, writes that Employees of the 21st century want to know what’s really going on behind their employer's closed doors.
- Glassdoor has collected reviews from employees at more than 400,000 companies globally and has seen common themes among the highest-rated companies. One thing is clear: it’s no longer just about the paycheck.
Dive Insight:
While pay is important, employees place a significant amount of weight on company culture, career advancement opportunities and senior leadership, Hohman writes. People want to work somewhere they feel respected and valued.
He adds that they want to connect to the company’s mission and vision, as well as be kept abreast about progress along the way. Even more so, they want to know how they personally can make an impact and move up the ranks.
Being open and transparent with a workforce builds trust and loyalty, which can result in higher productivity, less turnover and organic team building. Hohman cites three important things needed for a transparent work environment: honesty, starting with the C-suite; emotional intelligence; and all executives, including HR, practicing what they preach.
