Great teams are those that trust their leaders.
One great way to build trust is becoming fully-transparent about your company’s metrics.
Do you disclose your company’s cash flow or profit with your employees?
If you don’t – you might consider doing that from now on. In the end, your employees are the ones who help you achieve those numbers.
Letting them know about the performance of your firm helps you achieve some great things:
- It gives them a clue whether they’re improving as a team.
- It helps them understand their contribution and emphasizes their importance for your firm.
- It shows that you trust your employees. In return, they’ll often trust you even more.
The first two points are vital if you think about their engagement. In the end, you can’t expect people to give you their best if they don’t even know if their contribution is helpful. But the third point – trust – is critical. Especially when it comes to people like accountants.
Think about it.
They’re accountants. They live and breathe numbers. If there’s someone who can figure out your firm’s finances – it’s them. This means that hiding this information from them will create an atmosphere of mistrust that can only hurt your culture.
In the end, you can’t expect your employees to trust you and be honest if you’re not willing to reciprocate, can you?
The solution is simple – stop hiding your financial metrics and bring them out in the open. Tell your team about your profit and cash flow. Let them know how well they contribute to it and discuss your KPIs with them.
This will build mutual trust that’s necessary if you want to build a team capable of scaling your business.
Of course, trust is just one of the ingredients of success. Would you like to see what others are doing to achieve great results? Get my latest book called “The Wealthy Accountant”. It reveals data and case studies from other accounting firms. The data could be a great inspiration for setting your marketing goals. Click this link to access.