There appear to be three camps when it comes to sharing financial performance data with your team: 80% – tell them nothing – it isn’t any of their business and if they find out how much we are making it will be all over the village, then they will ask for more pay. 15% – share the KPI’s and other key numbers because it develops a sense of ownership and engagement. 5% – tell them everything because they will then know when we are having good and bad times. I would suggest that the 15% have it right – and many is the team meeting I have attended where the headline numbers have been discussed. The 80% complain that they cannot get their team motivated – go figure. The 5% observe that total transparency is OK in very small groups but the more people in the conversation, the more chance of a spoiler. The 15% is a good place.
and if you don’t know what all that means – you need to call us.