Today, more and more organizations are opening their books to share their financial information with their employees. For some, this can be a frightening concept. If we share in good times, will our employees demand higher pay? If we share during tough times will our employees get nervous and jump ship? What should we share and how often? But don’t let these questions stand in the way of sharing with your staff. You will find that the benefits far outweigh any costs.
An organization’s financial accounting system has the potential to hold incredible amounts of useful data. It is like a storage building full of all the information you may need to make strong decisions and plan for your organization’s future. But sometimes the data cannot be easily obtained.