Why Transparency Is Key For Better ProductivityPublished January 13, 2017
Happier staff are the most productive. There are numerous ways managers can increase productivity. A lot of this comes down to creating efficient systems, monitoring KPIs and supporting staff with on-the-job training.
Building and supporting a strong company culture is another way managers can increase productivity.
Culture isn’t a simple concept to get your head around since it’s unique for each company. An organization’s culture is a shared set of (implicit and explicit) values, ideas, concepts site, and rules of behaviour that allow a group of people to function together.
One aspect of a culture which sets the great companies apart from the average is transparency.
With the digital revolution, modern businesses need to embrace transparency with employees in order to get the best from them. While you can never share everything with staff, they prefer not to be kept in the dark. Sharing empowers. Strengthens teams. Encourages greater productivity and striving for more.
Transparency Works Both Ways
Sharing more with your employees is good for morale and building a strong culture.
It also works well for keeping them efficient, especially with more accurate payroll and timekeeping software. Staff who are paid hourly, with fluctuating or unpredictable shift patterns need all the information you can give them. They need to be able to plan ahead and budget. Rather than keep them in the dark until payday, give them a way of knowing what they’ll be paid, sooner rather than later.
Giving your staff more timely information allows them to adjust for income volatility, which is described as “hidden inequality.” One of the biggest silent killers of productivity.
According to an academic study quoted in The New York Times, worrying about a sudden drop in income or an unexpected bill, is “equivalent to [a drop of] 13 I.Q. points, comparable to the effects of losing a night’s sleep or becoming a chronic alcoholic.”
At the same time, you can control staffing costs more accurately.
This is especially useful for contractors, who can produce a more accurate staffing bill for their clients, rather than have them query that aspect of an invoice.
Everyone benefits from greater transparency. Staff will worry less. Managers will have a better handle on the HR budget, saving them time and money. There are bottom line benefits for employers and employees with simpler, more cost effective time and payroll management.
Make time keeping, workforce management and payroll easier with Punchtime:Start your free trial today!