The importance of transparency and ethics in business

The importance of transparency and ethics in business

Loss of money and position in the market is not a difficulty or a threat to a business, but the actual and heavy loss for a business is losing the ethics and transparency within the firm. Loss of money and good positions in the market is temporary, sometimes things are good, sometimes it's bad and sometimes it's even worse. But the moment you start working for it, it comes back to you. These are the things which can be restored or reestablished.

But there is something which never reestablishes once it's gone. You want to know what it is? Well, the answer is the pure relationship between two people. That may be between an employer and an employee, or two friends or two family members. Once the thin thread of relationship breaks, it can never be the same again. So in order to make this relationship more trustworthy and ever-lasting, you need to be transparent enough towards your fellow employees or employers. And when the question's about your business or company, you need to be more transparent and ethical towards your fellow members.

 Importance of transparency and ethics in business:

If you are an employer or an employee in a business firm, you expect people around you to talk decently and have a good communication with you. You may feel comfortable around someone who is good to you. In this case, you will definitely hope everyone to be friendly with you so you can freely collaborate with them.

Transparent communication is very helpful and important in a business firm because you will be meeting various types of people who will work under you or above you. All the people are not the same in case of manners and behaviors so you need to be open enough to talk freely. Transparency helps to build trustworthy relationship between people and makes people or employees feel that they are working for a good and highly ethical company. When transparent and open communication is added to a firm's cultural and professional working strategy, employees feel like they should be more engaged and devoted towards the development of the firm. They become more committed towards the development vision of the firm.

According to an American Psychological Association Survey held in 2014, 25% of employees do not trust their employer. Many employees think that their employers are not free or open enough to them. They even think that these employers are not free to the point needed for the overall vision of the firm. The importance of open communication is that the employees feel that they fully understand their work and feel free to suggest what they think, they are able to present their ideas in front of their fellow office mates. They also present their thoughts and their creativity which leads to better and more better innovative ideas to be adopted by the firm.

Well, what's the best way to be transparent and ethical in the workplace? The answer is obviously communication. Direct, open and clear communication between the people working in a firm directs to the highest level of integrity and honesty.

Wait, but the communication one way is not enough, communication when becomes two way street both down up and up down is necessary. When the senior employees talk freely and communicate properly, employees feel like they should be more committed and engaged towards their job. When the employees feel like they are getting equal involvement and attention in discussions of their firm's strategic planning,  they are more likely to develop in their respective areas.

Transparency and ethics in business allows to make a strong bond of trust, involvement and commitment between the senior and junior, employees and employers.

Transparency expands relationships 

Sometimes there are people who don't want to leave or give up their jobs, but then there are those arrogant and irritating managers who are so hard to resist. This is the condition when a person is no longer willing to resume his job and ends up quitting. But when there is a solid and very close relationship with strong base of trust, it is the best thing ever in order to achieve everything in a firm. A Career Builder Survey held in 2014 showed that 37% out of the total 3008 employees surveyed were thinking about quitting their jobs only because of the lack of good communication and relationships between the higher and lower officials. They also say that they usually witness a lack of confidence while thinking about their positions in the company.

The moment you feel like you have a better insight, a new and positive perspective and have the courage to present your opinions in front of others, you are more confident, you are able to make your place in the firm and you are able to share your ideas freely. With these three most important features,  you are able to make better decisions in less time. You are then able to increase your ability of more productivity and you can set the perfect morale as an employee.

There are some points in order to achieve good transparency and ethics in your firm. They are;

  1. Honesty 
  2. Integrity 
  3. Loyalty 
  4. Respecting others 
  5. Concern for all
  6. Be law abiding 
  7. Be fair in taking decisions 
  8. Don't ever discriminate someone 
  9. Never underestimate someone 
  10. Give fair chance to all to put their thoughts 

These are the very important aspects in order to achieve good performance results from every employee in a firm. So always be good to all if you want everyone to be good to you. Dont ever discriminate against anyone,  dont underestimate anyone, dont stop anyone to present their feelings and opinions, be helpful and kind to all because you will get the same behaviour from others. Be good, do good because if you do, you deserve good at some point of time.