There appear to be three camps when it comes to sharing financial performance data with your team:
80% – tell them nothing – it isn’t any of their business and if they find out how much we are making it will be all over the village, then they will ask for more pay.
15% – share the KPI’s and other key numbers because it develops a sense of ownership and engagement.
5% – tell them everything because they will then know when we are having good and bad times.
I would suggest that the 15% have it right – and many is the team meeting I have attended where the headline numbers have been discussed.
The 80% complain that they cannot get their team motivated – go figure.
The 5% observe that total transparency is OK in very small groups but the more people in the conversation, the more chance of a spoiler.
The 15% is a good place.
and if you don’t know what all that means – you need to call us.