Soar to Success August 2021

I f you’re looking for a great way to build employee trust and engagement levels, you may want to consider incorporating an open book leadership strategy. Open book leadership is the sharing of business financial information with employees. No, you do not have to share employee salaries, but most of the other numbers on the P&L and Balance Sheets are fair game. Think about it, your employees probably believe that your company and leadership team An Open-Book Management Strategy to Increase Engagement By Lisa Ryan are making gazillions of dollars each year. They see the orders come through for tens of thousands or perhaps millions of dollars, and they think all that cash is going into the pockets of the company’s owners. Employees only hear about company finances when times are tough, and cutbacks need to happen. By sharing the “real story” of your financial situation in good times and bad, you’ll close the gap that exists between leadership and the workforce.