Transparency Pays Well for Companies in 2017

In business both traditional and online, reputation is everything and companies trying to project the best image possible. By paying attention to the demands of their customers, offering professional support and addressing complaints quickly, they solve most of the problems. The highly competitive business environment has prompted ventures to come up with new plans and increasingly original approaches.

A couple of industry leaders have decided to try something different and take transparency to a whole new level. On paper, most companies brag about being transparent in the manner they conduct business, yet they have plenty of things to hide. Some say they do it for the benefit of their employees and customers, but many simply don’t want to take any chances. The ones that took a leap of faith and wholeheartedly embraced transparency are very successful and their example could inspire others.

Communication is key!

Forget About Confidential Salaries

In the Western world, there is usually a lot of secrecy surrounding salaries and employees don’t like to discuss such matters even with their colleagues and friends. Truth be told, things haven’t always been this way and this new attitude was cultivated by corporations. Buffer don’t hide employee salaries and instead do their very best to properly explain why each employee gets the wages he receives. They display the pay rate of every employee from the CEO to the latest employees to join the organization.

The idea of posting all the salaries is bold and innovative, although many modern ventures are reluctant to walk in their footsteps. This propensity to transparency doesn’t stop at listing the salaries, but the company also explains the formula it uses to come up with these wages. Buffer hopes that by making things this transparent, it will increase employee satisfaction and also make the company more attractive from outsiders. Prospective workers will know exactly how much money they could be making and also estimate their income ahead.

While Buffer make these changes of their own volition, other companies had to make certain amendments after big scandals. Whole Foods has smoothly rebounded from a class action lawsuit where they were accused of mislabeling products. They are now the only company to offer total GMO transparency, in an attempt to convince existing and prospective customers that they sell the best products.

Welcome Visitors to Your Headquarters

Another thing that companies have so far been reluctant to do is to allow outsiders into their headquarters. There are good reasons for maintaining certain boundaries, but Zappos are known for transparency and now ready to shatter this barrier as well. They facilitate tours to their company center and those who attend can see exactly how work is being done in its various departments. There’s a good chance for some of the visitors to be impressed with what happens here and the tour can act as a magnet for talented individuals. Since everything is done under supervision, the company doesn’t take many chances.

This also sends a strong signal out there, that the company is not afraid of customers and business partners’ taking a peek at what happens behind the curtains. The fact that they have nothing to hide should encourage them to strengthen the ties or open new business channels. This proactive approach is also worth considering by companies who want to prove their environmentally friendly business model.

Online gambling operators are also contemplating the possibility of taking transparency to the next level. Since it’s more difficult to bring clients at their headquarters and players care less about the employees’ salaries, a new approach is needed. PlayOJO are a braver, fairer online casino and among the first to waive the wagering requirements on bonuses. With them, what you see is what you get and juicy promotions, such as cashback deals have no hidden clauses or tricked terms and conditions.

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