On a personal level, transparency can be understood as what’s going on in your mind. However, on a company level, it is sharing precisely what is happening in your workplace. It is a concoction of openness and honesty. It is sharing both the good and bad news with your employees. A radically transparent company is the only one that trusts its employees to handle information.
A radically transparent organization is founded on trust. It requires great courage, good communication skills, and the ability to have conversations, discussions, and debates that usually follow.
You might wonder why it is essential. A company works like an anthill. Everyone has their duties and responsibilities to fulfill. Being transparent with everyone in the organization fosters trust, loyalty, engagement, and a broader cultural thread of honest communication. This allows people to be open about their opinions. Their best ideas and perspectives are on the table.
Benefits of radical transparency
Radical Transparency assures immense growth in mutual trust and loyalty between the company and its employees.
Everybody knows what’s going on – Everyone knows different responsibilities in the organization. There are no ambiguous job titles. You can easily find out if you want to know what someone is working on today.
Everyone knows what state the business is in – If the company is making profits or going through a rocky road, the workforce knows what’s happening. They also learn ways in which they can help as well.
There are no secrets – The company goals, objectives, and strategies are all clear. The employees know what they are working towards and are focused on achieving it.
Everyone can look into the finance book – From individual salaries to other bank statements, all employees know the company’s financial standings. However, this can be scary as the employees will know if any risks are dawning upon them. It also allows employees to show their worth.
Employees can learn faster and have access to all information. Radical transparency allows everyone to contribute to the decision-making process and derive input from them. This may take some time for the decision to be made, but it ensures nuanced decision-making. Moreover, it strengthens the bond between employer and employee. Although there are risks, such as debates and differences in opinions, the excellent part outweighs the bad.
Proof that Radical Transparency Works!
Radical transparency is a core value at CILA Labs. From sessions that reveal everything the company has been up to in the past month to an open and engaging watercooler channel, radical transparency is taken very seriously. Our Founder realized the importance of it when he wanted to build a software product, but the agency did not deliver what it had promised. They had pledged a full product in 10 months for a fee but delivered a half-baked product, double the money, and a sorry note. There is a lack of transparency in many industries. This is what companies like CILA Labs plan on changing.
A transparent channel on Slack – From employees posting pictures from their personal life to HR giving information about all the policies and changes that happen in the company, everything is as clear as crystal. If a rock is moved in the kingdom of CILA, every employee knows about it. Most of the channels are open and accessible for all to join.
JAMANI Session – A monthly session where our founders Jared and Mani talk about all the financial updates, client development, success, failures, etc. It happens every month and covers almost everything company and employee-related. The session shares 100% information on whatever is happening in the front end and the back end. The session ends with employees sharing what they have learned and are grateful about.
Approachable HRs – With slack at the tip of your fingers, you are free to contact the HRs with any query. They are friendly, approachable, and 100% transparent with the information they provide.
Detailed Reports – Every month, there is a clear financial report that is accessible by every employee in the greyHR portal. The same is sent to every individual via email as well.
However, there are some aspects of privacy that we have to uphold as a company. The data we have on our partners is not disclosed. It can only be accessed by dedicated people involved in a particular business or process—information regarding the exact salaries of colleagues and employees. However, details about their position and level of seniority are available publicly. Employees also have a choice to disclose their personal information.
If you want to join Project 10K as a partner or an employee, we can assure you that your time with us will be great! If you want to work as an employee, you can be a part of our tech team, which is full of innovative and energetic people. If you have a BIG IDEA to change someone’s life, join us as a partner! Pitch us your idea, and with our impressive tech team and a proven track record, you can be the co-founder of your dream company! We take our codes very seriously. To learn more about Project 10K as a company and check out our other core values, visit project10k.com/pitch.