• Austin Jones

Studies Prove That Transparency Is The Best Tool For Your Organization - SoshWallet

Robert Half Management Resources is an authority on effective staffing for international private industry. They ran a study on private companies, employees, and financial transparency. The results heavily indicate that organizations who are transparent with their employees about the companies finances, perform better.

82% of workers are interested in their companies financial performance. According to executive leadership at surveyed organizations - "Staff feel more invested and engaged when leadership provides updates on company performance," said Jason Flanders, executive director of Robert Half Management Resources. "Professionals are also often happier and more productive if they understand how their work contributes to the firm's bottom line."

More publicly traded than privately held companies, provide employees with financial updates. Large companies with 1,000 or more employees are the most financially transparent, the study finds. With this being the case, it proves that being more transparent in your organization leads to more success.

Being transparent makes your team more effective. It increases motivation because they feel more involved, they feel like their work has more of an impact. They're informed and more conscious of the importance in their work. They trust the company more, fostering better ties between everyone working together. This breeds new ideas, inspires action, and overall creates more productivity.

If the biggest highest performing companies in the world are utilizing transparency and its working for them. Maybe you should instill some transparency in your organization! Whether it be public sector like the neighborhoods HOA. Your kids schools PTA. The roommates shared bills account. The extended family vacation fund. The churches charity fund. Your local politicians campaign. Any application you can think of where transparency matters, SoshWallet is the ultimate tool for them!


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