“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