Business transparency is about treating people fairly and honestly while also making business-related topics simple. It’s a way of thinking that places value on the free exchange of information for an organization’s and its managers’ mutual benefit. How can a company foster transparency? By conducting business in a way that improves open communication and information sharing among team members and leaders at all organizational levels.

Why Building Trust and Transparency in the workplace is Important?

There is extensive research showing a link between employee satisfaction and business transparency. One study from employee feedback company TINYpulse, which polled more than 40,000 workers, found that transparency was the main factor influencing workers’ overall happiness. A staggering 87% of workers surveyed by Slack in the 2018 Future of Work study expressed the hope that their next job would be transparent.

It indicates that the vast majority of today’s workforce, which is more mobile than ever, prefers to work for morally-responsible businesses. Transparency has never been a more significant asset today since the best employees can choose the employment that will make them the happiest, including your present employees who may be evaluating new chances at more transparent organizations.

How to increase trust and transparency in the workplace

Here are a few of the things that you can do to increase transparency and trust at your workplace:

1. Recognize that establishing trust requires effort

Trust has to be gained. It results from a deliberate effort to act by your values and purpose, keep your word, and walk the walk. Because it can be exceedingly challenging to regain lost trust, it is worth the effort to build trust.

2. Be sincere and encouraging

Tell the truth, not simply what you believe people want to hear, even when it’s uncomfortable. Recognize the information that employees need to know, convey it, and do it with respect for their work and feelings. Be understanding and supportive of your team members, even when they make mistakes. It greatly contributes to developing trust in a leader.

3. Make open communication your watchword

Other team members are motivated to offer information when the team leader is transparent, communicative, and inclusive. These specifics could consist of:

• creative concepts,
• identifying process gaps,
• asking why we do things a certain way, etc.
• new techniques to enhance workflows,
• or comments made during performance evaluations.

Your business will succeed if employees feel comfortable sharing their opinions with team leaders and other team members.

4. Take after the behavior you want

The behavior of the leader, which affects employee activity and may influence their results, speaks loudest about the culture of an organization. If you want to emphasize the importance of teamwork, collaborate with other teams and departments. Giving praise when people perform well will foster a culture of appreciation.

5. Show others empathy

Leaders who pause and consider their team members’ true feelings foster a great deal of trust. Employees should be heard, and their feelings should be respected. The reward is a motivated employee who feels taken care of and it’ll help you understand the approach you should take to motivate that employee.

6. Ask for feedback and act on recommendations

We’ve all been in this situation before: we took the time to take a survey on employee engagement, but we never learned the results or saw any leadership changes. The simple act of asking your team members “what are you thinking?” or “what could we be doing better?” is just as effective as doing company-wide surveys. Actively listen while favoring taking action. Reconnect with staff to express gratitude for their input and to explain your decisions, or, opposite, your decision not to use their suggestion.

7. Incorporate accountability

Employees will regard you as credible and follow your example if you and other leaders are willing to admit both your failures and your accomplishments. By incorporating procedures that become ingrained in the culture, such as an assessment of every project (positives, negatives, things to improve), or a status report and future actions in the agenda of each meeting, you may promote open communication and accountability (tracking deadlines and milestones).

8. Show your appreciation

It is important to acknowledge your teammates. These actions—from expressing gratitude for a job well done to take the time to nominate your colleagues for your company’s recognition program—have a big impact. You can create a strong connection based on respect and trust if you repeatedly reinforce the actions you want to see.

Summary

In the end, you can build transparency and trust by communicating openly. It is essential to acknowledge your teammates’ achievements and show appreciation; it will encourage your team members to take responsibility for their work and their relationship. In addition, let your team members know you are there to help them. It will help you build trust.