You share information with your workforce
 
If your employees are expected to deliver the goals and financial commitments agreed for the business, it is incumbent on management to provide people with regular communications on what has to be achieved, the rationale for their actions and most important report on progress and successes that have been achieved. The more people who understand, the greater the likelihood of success. 
Key Issues
·         Traditional management practice kept commercially sensitive information secure and confidential from the workforce
·         Today, progressive companies share information on most aspects of the business with their workforce and trust that they will respect the commercial sensitivity and need for confidentiality
·         Information that could be share-price sensitive or of significant value to a competitor needs deliberation and formal management authorisation before release
·         Information you should consider making available includes:
o      An appropriate summary of the company business plan with an explanation of opportunities and challenges facing the business
o      An explanation of the operational targets directors have committed to
o      The outcomes of customer interviews, with feedback on their perceptions
o      The status of your order book, progress towards achieving the financial goals, risks and opportunities for the business
o      Insights into new products and progress updates
o      Report on business performance giving feedback on quality issues, cost performance, delivery statistics, customer comments, progress on change projects
o      The employee skills and training matrix with recognition for those people who have made a significant contribution
·         A standard approach to performance monitoring and reporting (including trends) should be adopted.  You might consider using the Balanced Scorecard.
·         Methods of providing information should include:
o      Senior management addresses for reporting strategic issues, results and business performance commitments
o      Quarterly news letters that provide insights into new business opportunities, customer comments, people, events and such
o      Monthly reviews by local managers on business successes, issues that have to be addressed and noteworthy news
o      Web-based notices on progress on team-based initiatives
Factors for Success      
Factors to  Avoid
1.     You are open with employees, but aware of the risks
2.     You report sensitive information verbally
3.     You update and maintain all information on a regular basis
4.     Important messages are delivered by your Managing Director
1.     Management only holding meetings when they need to report problems
2.     Providing information to competitors
3.     Giving confusing or conflicting messages
4.     Relying on the ‘grapevine’
Who does this apply to?
All managers
Realisable Benefits
A more committed workforce, many more people thinking how to resolve issues

Guides:

The working environmentThe working environment

The working environment

Sharing information with your workforceSharing information with your workforce

Sharing information with your workforce

Appraising employeesAppraising employees

Appraising employees

Succession planningSuccession planning

Succession planning

Ensuring employees gain experienceEnsuring employees gain experience

Ensuring employees gain experience

QualificationsQualifications

Qualifications

Reward schemesReward schemes

Reward schemes

Work/life balanceWork/life balance

Work/life balance

Reducing overtimeReducing overtime

Reducing overtime

Collaborating with educational establishmentsCollaborating with educational establishments

Collaborating with educational establishments