What are the goals, standards and various approaches to improve the company as a whole? What can an employee do about it?
Some companies are turning to the “open book approach”….involving their employees in business decisions to improve the company’s performance.
Normally, when a company is not thriving it is hush-hush and the employees don’t know what is really going on.
With open book management, employees are vital to business decisions and know what is going on.
Companies teach them about the ins and outs and reward them with incentives and ways to improve the bottom line.
“Open book management is a good tool for companies to get people to work together as a team.”
Everyone is treated equally from the president to the newest employee on the roster, with each individual being just as important to the process as another.
Through knowing about the financial logistics and the business prospects, a company can go from zero to 100.
While there are still mixed reviews on whether open book management really works, for many it has turned the company around and made profits.
Would you take the open book approach?
Published by Conselium Executive Search, the global leader in compliance search.