Open Communication with Employees Arlington Heights IL

Should employees be given details of your company's total earnings, profit structure, and other financial information? Opening up your books would worsen this issue and could create personnel problems and owner/employee resentment. There is nothing wrong with open communication, (i.e., job costs and related dollars) but company inner financials may be too much to talk about. I don't want to expose the line items of expenses since that might lead to questions among employees about my (and others') compensation, vehicle costs, and meals and entertainment.

Local Companies

Focal Communications Corporation
(847) 290-9013
1305 E Algonquin Rd
Arlington Heights, IL
Focal Communications Corporation
(847) 290-1435
1305 E Algonquin Rd
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Skytel
(630) 955-0603
3000 Warrenville Rd
Lisle, IL
Euresys
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500 Park Blvd
Itasca, IL
World Wide Xceed Group Inc
(312) 443-9000
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Ketterman Communications
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RR 2
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Midwest Network Co
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Astro Communications
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Alpha Communications
(847) 798-8060
2644 W Schaumburg Rd
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Covad Communications
(773) 846-0052
233 W 76th St
Chicago, IL


TOO MUCH INFORMATION

I started out in 1975 as a framing contractor employing up to 15 people. From the start, the biggest problem (other than being late) was that everyone was always counting one another's money. That seems to be human nature.

Opening up your books would worsen this issue and could create personnel problems and owner/employee resentment. There is nothing wrong with open communication, (i.e., job costs and related dollars) but company inner financials may be too much to talk about. I don't want to expose the line items of expenses since that might lead to questions among employees about my (and others') compensation, vehicle costs, and meals and entertainment.

Also, giving too much information can backfire, allowing a disgruntled employee to take information on to a competitor, undermining your trust.

Employees don't need to know the financials to be compensated well. They should be rewarded for their hard work based on performance — achieving the goals set out for them by the owner/supervisor and themselves. They should also be rewarded for their loyalty to the company.

The workings of your business should be the owner's business since all the risks are on the owner's shoulders. Unless you're willing to explain every aspect of your company's workings to employees — teaching them the ups and downs of business ownership, about what it means to put it on the line every day — having employees view your company's financial information will only confuse them.

Click here to read full article from Remodeling

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