In my former company, we opened our books about 15 years ago. And since then, it was a crucial part of our collaboration.
In an agile organization, opening the books—sharing financial information, strategic plans, and operational metrics—can be a transformative practice, fostering a culture of participation and loyalty among employees. When employees have access to transparent information about the company’s financial health and performance, they feel more engaged and invested in the organization’s success. This transparency builds trust and empowers employees to make informed decisions aligned with the company’s goals.
Open books also promote accountability and collective ownership. When everyone understands how their individual contributions impact the organization’s bottom line, they are more motivated to work collaboratively and contribute to continuous improvement. This culture of participation encourages employees to take initiative, share ideas, and take ownership of their work, leading to higher levels of productivity and innovation.
Furthermore, open books contribute to a sense of fairness and equality within the organization. When financial information is openly shared, employees can see how compensation decisions are made and understand the rationale behind them. This transparency reduces feelings of resentment and fosters a more inclusive and supportive work environment where everyone feels valued and respected.
Hint: communicate your facts and figures
– on a regular basis, e.g. monthly
– proactively with a space for feedback or dicussion
– link them to your current situation and your future goals and strategy.
– be prepared to admit mistakes, but also celebrate successes.
Albrecht Günther 