Radical transparency is where everyone in a business knowing everything and it’s a major driver of performance.
As a manager just imagine knowing in real-time exactly how all of your employees are performing and being able to compare their results.
Having this information would enable you see how your employees are performing, who deserves praise and who needs some support.
But, Radical Transparency is not just about managers or business owners knowing how their employees are performing, it’s as much to do with employees knowing how they fit in and what contribution they are making.
Performance targets need to be set on an individual basis and in context. You want people hitting their targets and feeling good. The Radical Transparency framework includes:
- Quarterly objectives
- Weekly meetings
- Daily reporting
Insights from neuroscience support Radical Transparency in that we work better when we no longer feel the need to worry. If we hit our daily targets we know we’re doing well and are being recognised.
Radical Transparency improves business performance in three ways:
- Growing talent
At the beginning of each quarter employee set targets so there is crystal clear clarity on what will achieve our goals.
Radical transparency increases engagement because employees feel in control and are recognised for their performance. They also feel the culture is fair (a key drive of engagement) because data doesn’t lie.
By making the performance of top performers accessible the business can excel through developing and encouraging best practice.
It’s important to recognise that transparency creates winners and losers, and that environment can be tough for someone who is not an “A” player.
Image from Flickr by Dicemanic.