Successful Companies are Built from Trust
The old advice of “keeping everything from your employees” is out-dated and far from the truth. Your employees may be grateful to have jobs, but they may not be happy with the company. Employees believe that their bosses are much wealthier than them, and that they are just little players in the game. It is possible that they believe that your actions are motivated only for your benefit and that you are not doing what is best for them or the company as a whole. Trust from employees is a very hard thing to gain, and, just as it is in a relationship, very easy to lose.
The easiest and most full-proof way to build trust in your company is to practice open-book management. Companies that utilize open-book management are very successful. Employees are capable of understanding the simple management concepts such as “return on investment” and “risk versus reward.” The more they know what is going on, the more they want to be involved and help.
If your employees see that your company is struggling, they will not question their pay freeze. And because the company success leads to their success, they will want to help. You should ask them for their input and ideas on how the company can operate more efficiently and profitably. It will create a team atmosphere where everyone is striving for the same goals. They will see your vision and believe in it, which is very important for company success.
Furthermore, it is imperative to always tell your employees how much you appreciate them. That way, they will understand that you care about them and the company. Therefore, if the company does well, they will do well as well.
The company owners who use these tactics are seen as courageous, determined, and dedicated to the success of the company and, in turn, the employees. Great and successful companies come from great leaders with integrity and an open and trusting relationship with employees. Just like any successful relationship, the basis for successful business relationships is trust.
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