Why You Should Tell Your Team Exactly What You Earn

By Barry Moltz

For small businesses looking to recruit employees, closed doors, private offices and secrets must be a thing of the past. Today, employees want to work for companies that are transparent and authentic—which means business owners are expected to disclose the business’s financial results, including compensation.

This open book management philosophy is about sharing almost all financial and operational information with every employee in order to make a firm more profitable.

In the past, company financial statements of private corporations were only shared with senior executives. Open-book management strives to extend this feeling of responsibility to every team member and forge trust with …read more