Among the management practices developed with the adoption of the ESG approach (acronym for Environmental, Social and Governance) are corporate governance actions, that is, internal processes created based on ethical and transparent principles. However, after all, what attitudes are considered examples of transparency in companies ?
By adopting transparent management, communication between internal sectors works better, helping employees to be more productive, as well as allowing investors and other stakeholders to know the company's results and practices.
In addition to communication itself being important, there is the factor of 'having something to communicate'. Many companies do not have data on their performance due to a lack of transparency.
A data-driven business improves its efficiency and market positioning. As an article in the Harvard Business Review points out, CEOs who demonstrate confidence in the information generated by their company convey a positive and solid image.
If you agree with this view and want to implement transparent management, continue reading the article and understand the importance, discover examples and tips to improve communication in your company.
Ethics and transparency are fundamental characteristics for managing a business and conveying credibility to customers, partners, employees and other stakeholders. However, it is not just about publishing reports, but also creating presentations detailing the evaluation methodology, the results and how the business performed, according to the criteria followed.
For example, a company may claim to be sustainable , but if it achieves one of the ESG certifications for companies, it provides data that validates its claim.
This is because certification is obtained through an audit procedure that confirms a company's compliance with the certifying agency's standards.
The same reasoning applies to auditing that regulates corporate finances. It's a way of convincing internal and external parties about the company's sound financial health and that there are no illegal acts, such as corruption, kickbacks and misappropriation.
Another practice that reinforces the importance of transparent management is the existence of a reporting channel , a means that allows for the safe reporting of misconduct , whether by superiors or coworkers.
These and other points prove the importance of ethics and transparency in building solid bonds inside and outside the workplace, strengthening the company's image with reliable data on its performance in the market.
Now that you know the importance, you must be wondering which behaviors are examples of transparency in companies.
To facilitate the adoption of processes that assist in the exchange of information, we have listed some examples of practices that bring this benefit. Check them out!
The stature of internal communication is one of the examples of transparency in the company because without well-structured contact channels, it is impossible to integrate teams.
Research conducted by McKinsey consulting showed that well-connected teams can increase productivity by 20% to 25% .
This way, managers can align their teams, communicating transparently, facilitating the monitoring of projects, problems and productivity.
The step-by-step process for carrying out a task can often be simplified by eliminating some steps that delay or prevent rapid progress. Therefore, streamlining processes is one example of transparency in a company.
The clearer the steps the team must follow to complete a process , whether it be recording data, sending an email or making a report on the reporting channel, the better.
Improvement can be driven by the team in each area. After all, no one is better than the people who deal with the task in practice to optimize it.
Another example of transparency in companies is the rapprochement between leadership and subordinates . Encouragement is essential, because when information flows among the team, solutions can be taken more quickly.
According to a report by Dow , while 44% of executives surveyed rated their organization's internal communications as excellent, only 20% of employees agreed.
Find out what the climate is like in your company and guide managers and other leaders on how to approach the team, collaborating with transparent management.
When it comes to transparency, the existence of data is crucial to verify and improve various aspects of management. The reason is that, based on clear and reliable information, the company can optimize its resources.
Suppose your business spends a lot on electricity. When presenting a migration plan to the Free Energy Market , having consumption data from the last 12 months and a projected savings from the change helps you make a safe and well-guided decision.
Therefore, it is essential that each sector has its own quantitative performance indicators.
Forming a team of employees whose values include ethics in the professional environment, clear communication and transparency is essential to consolidating transparent management.
This way, aligning the team with the company's conduct is much easier, allowing the business to evolve consistently and always attract good professionals.
Using these examples of transparency in your company, you have a starting point for making improvements to your business. To complete the list, we have listed more tips for maintaining transparent communication with your team:
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