Companies were once inscrutable. Making decisions in secret the double doors of their boardroom, but times have changed. Increasingly businesses recognize that the advantages of confidentiality are outweighed by those of transparency. They find that by being open and honest with the public, they built trust with employees, partners, and customers, leading to better relationships.
Why Does Business Transparency Matter Now?
Consumers perform much more due diligence than they did in the past. They expect more from the companies that they choose. If you are transparent, customers can evaluate how they feel about your business philosophies, goals, and track record to decide if they want to do business with you based on what they have learned. By being transparent in your marketing, your customers can choose to work with you or not, which is fine. You might not necessarily wish to work with customers who are not a good fit. Do not be surprised if honesty eliminates some customers.
Transparency can attract the kind of employees you want to work at your company. They will get an accurate understanding of your corporate culture. If they are like-minded, they will be eager to work there. Conversely. those with different values will pass on applying, which may not be a bad thing. If your workplace tends toward suits and ties, you may not want candidates who will be more comfortable in a casual workplace and vice-versa.
If you wish to work with other vendors, it is essential to be transparent about what you expect from them and what they can expect from you. It is the best way to form a mutually beneficial relationship. Partner with companies that share the same values and work ethic. Make an informed decision on the wisdom of committing to a partnership.
At The Panther Group, a commitment to transparency is part of our success and why employers and professionals trust us. They know they can count on us to always be honest. If you are looking for a partner you can trust to find proven professionals for accounting and finance, engineering, IT, or life science, count on The Panther Group.
Are you looking to build a winning team?
For more information on how transparency can contribute to your success, contact the team at The Panther Group.