Open-Book Management DC

As varied as remodeling company owners are, they share several personality traits. Most are independent-minded and strong-willed, and they tend to keep their cards very close to their vests. When it comes to management styles, “my way or the highway” is the prevailing theory.

So it comes as no surprise to learn that few management styles meet with the kind of gut-wrenching negative reaction reserved for open-book management. “I don't want anyone to know how much I make” is among the tamer of the typical responses from company owners who believe that what employees don't know won't hurt them.

Boise, Idaho, remodeler Jim Strite has been running an open-book company for 20 years. He believes in the management style enough to advocate it during industry seminars.

Photo Credit: Glenn Oakley/WpN

Such fears are unfounded. Practicing open-book management doesn't obligate you to tell your employees how much money you make. Of the 10 open-book-company owners interviewed for this article, just 2 said they share information about their salaries with all of their employees.

Nor should you be afraid that you'll be revealing the salaries of your employees. “The point isn't to get down to what individual people make,” says Charlie Gindele, president of Santa Ana, Calif., replacement contractor Dial One/Renewal by Andersen. “It's to get everyone to understand the costs of running the business, and to get them to identify areas where expenses can be cut.”

Click here to read full article from Remodeling