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4 Ways Corporate Transparency Leads to Healthy and Successful Companies

Jun 18, 2019 6:19:00 PM

Is transparency a goal worth striving for in an organization? A lot of emphasis is placed on competitiveness and innovation, the twin motors that keep a company on the leading edge of their field. But how does transparency fit as a corporate value worth striving for? And ultimately, can we leverage technology to institute and cultivate transparency within an organization?

In its simplest form, transparency means working in such a way that is easy for others to see what actions are performed. Transparency means communication and availability, enabling the flow of information to permeate a team and reduce reaction times. It also means openness: teams and individuals work more efficiently with better access to information. And transparency also means accountability: collaboration and cooperative decision-making leads to increased productivity.

At Praecipio Consulting, we've leveraged Atlassian applications Jira and Confluence, coupled with Slack to enable transparency. Having a transparent company can do many great things to keep you competitive. I've seen 4 major benefits where the Atlassian applications have enabled Praecipio Consulting's success:

  1. Better Relationships

    With clear communication, meetings on-demand, and instant project collaboration, it's easy to foster a sense of camaraderie with coworkers and leadership. Camaraderie keeps morale high and efforts on track.  Without transparency, or tools to enable transparency, it's easy to become focused on the wrong tasks or working in the wrong direction. Slack has been a great tool to enable instant communication regardless of where participants are located.

  2. Better Engagement 

    With a highly transparent company, it's easy to feel connected to the company's high's and low's. This connection inspires workers to become more engaged in their tasks and ultimately, helps foster purpose-driven work life. In the long run, workers who are more engaged are less likely to walk away or throw in the towel. According to PayCom, low employee engagement costs "an estimated $450 billion to $550 billion in the U.S., per year."

  3. Better Solutions 

    When management and leadership are available and transparent, problems get solved faster. Praecipio Consulting uses Confluence to manage many projects, and as they say two heads (or however many heads make up the company) are better than one! 

  4. Better Alignment 

    According to Entrepreneur.com, "Transparent leadership results in employees who understand the company vision and how their efforts help achieve company-wide goals." Praecipio Consulting hosts monthly meetings to highlight when and where employees align their efforts with our company values. The company "value-echoing" is then further enabled via Slack, our on-demand chat and video tool. Daily efforts and successes (even trials) are shared here so the company can respond and take immediate action. 

Transparency has done wonders for us here at Praecipio Consulting. Having open access to information, being able to seamlessly collaborate across teams and individuals, and feeling part of a coherent group working towards a common goal are all part of our efforts to use transparency as a tool for fostering competitiveness.

Drop us a line and find out how Praecipio Consulting's Atlassian expertise can help your project achieve openness and accountability, and give you that extra edge.

Written by Esme Huber

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