Introduce ‘Transparency’ to Unlock Untapped Employee Potential
January 13, 2014
‘Transparency’ is the new buzzword hot on the tongues of the business community. The a concept confuses, frightens, and intimidates leaving companies feeling vulnerable to the scrutiny of employees, job seekers, and the outside world. But, there isn’t much to fear! Instead, making your company’s inner workings available to the eyes of a wider audience holds great opportunities.
Salary Transparency Unlocks Employees’ True Potential
Companies can create a happy, healthy, and productive work atmosphere by welcoming ‘salary transparency’. The sense of openness and responsibility a company demonstrates sets an example for its employees and industry. Lifting the veil on this taboo subject may be the key to unlocking great, untapped potential and motivating your employees.
Employees who are aware of the salaries of their industry counterparts are more likely to excel and earn more over time. When workers know a fair salary to expect, it weakens wage inequality, and it motivates people to become strong, efficient competitors in their field. A fair conclusion: salary transparency encourages the development of an ambitious, skilled, and robust workforce.
Social Sharing App Buffer Leads The Way to Full Salary Transparency
Buffer, a ‘buzzing’ small company that offers an app for optimized social sharing across all platforms, has recently come out as a public advocate for transparency. Buffer defaults to transparency across the board embracing it as one of the highest values of the company. In a recent blog post, Buffer founder, Joel Gascoigne, took the very brave step of making Buffer’s salary formula and compensation completely transparent.
Everyone has a scrutinizing eye on this courageous and controversial company, but CEO Gascoigne has a determined faith saying:
“One key reason transparency is a such a powerful value for a company’s culture is trust. Transparency breeds trust, and trust is the foundation of great teamwork.”
In an interview with Huffington Post Live, Buffer’s founder sincerely discusses his commitment to salary transparency and the difference it makes in the company culture and the hiring process. The concept attracts job seekers who value a company who “has nothing to hide.” And why wouldn’t it? Ideally, we all want to work for a company that not only wants the best for itself but also for its employees.
Will transparency become a common workplace theme? The age of information makes it seem increasingly unlikely that companies will be able to keep the curtain closed on their circuitry. Social media trends in business are closing the divide between companies and individuals. People expect more information and transparency out of the companies they work for and do business with than ever before. Certainly an interesting trend to watch!