Utilize Open Book Management

“If you give people information, then they can adapt their behavior.”

- Bettina Hein

The Why

Financial transparency improves productivity, performance, trust and accountability.

The Tips

How to implement Open Book Management:

1. Know and teach the rules: Every employee should be given the measures of business success and taught to understand them.

2. Follow the Action & Keep Score: Every employee should be expected and enabled to use their

knowledge to improve performance

3. Provide a Stake in the Outcome: Every employee should have a direct stake in the company's success and in the risk of failure

The Resources

https://en.wikipedia.org/wiki/Open-book_management

https://www.cbsnews.com/news/show-me-the-money-how-four-companies-profit-from-open-book-management/

https://www.peoriamagazines.com/ibi/2011/mar/employee-engagement-through-open-book-management