Transparent companies just work better. We’re sure there is a statistic out there to back this claim up, but the anecdotal evidence is quite powerful on its own.
Take Bringg, for example. Transparent communication and feedback practices help the company build a culture based on empathy, understanding and trust, says HR Director Noga Preisler. One of the business benefits of grounding Bringg’s culture in transparency is that employees feel more empowered as decision-makers.
“Fast adaptation requires a constant flow of information and real-time communication,” Preisler said. “By practicing transparency, team members stay informed and are able to make timely decisions.”
Transparent practices can also help companies reach larger organizational goals, like becoming a more diverse, equitable and inclusive workplace. Candice Allen, HR business partner at fintech company Adyen, said increased transparency around employee evaluations, decision-making and in addressing biases has helped create a more welcoming environment for diverse talent.
If that anecdotal evidence about transparency isn’t convincing enough, Yello CEO Corey Ferengul noted that his company saw a 34 percent increase in employee satisfaction with leadership communication after implementing more transparent practices.
Transparent companies just work better, but building one is no easy feat. Preisler, Allen and Feregul spoke with Built In Chicago about the specific processes and practices their companies utilize to promote transparency.
Adyen is a fintech company that offers a single platform for merchants to accept payments online, in-store and via app.
Please describe the transparent practices in place at Adyen in detail.
Our way of working is guided by the Adyen formula, a set of eight company values that have remained consistent since our founders created them. The formula unites us across the globe, enabling us to function effectively as a holistic team. Our formula, in its essence, is a transparent practice. Two formula points that really speak to our transparency are “we include different people to sharpen our ideas” and “we talk straight without being rude.”
Adyen is made up of incredibly diverse talent from different backgrounds. We encourage people to bring their different views forward, resulting in a collaborative and innovative work environment. For employees, this creates a strong sense of trust within the business, which is extremely consistent throughout our team. When you speak to employees in any of our 27 offices, you can hear how passionate Adyeners are about our organization. This wouldn’t be possible without clear, transparent messaging regarding our company values.
Transparency is also crucial for promoting diversity. At Adyen, we exemplify this through inclusive decision-making, fair performance evaluations, clear communication, trust and accountability.
Why were these practices implemented?
I believe these practices, in particular our Adyen formula, were implemented to ensure we could move quickly and have a consistent way to scale as a growing company. By having open, clear and easily understandable core values, we were able to remove barriers. As we began to grow at a steadier rate, the formula helped build a culture that is unique and adaptable, no matter where employees are located. These practices exemplify the way we work together internally and externally and keep people invested in the future.
Transparency is also essential in personal and working relationships. It means being honest, open and forthcoming in our communication and actions. It also means sharing our thoughts, feelings and intentions. It builds trust, fosters understanding and enables healthy and meaningful connections. The feedback culture of speaking directly means you can speak comfortably to anyone, whether it’s a team lead or the CTO. We’re a very flat organization in this way.
Transparency in the workplace plays a vital role in promoting diversity and inclusion.”
What are the outcomes of this level of transparency? What employee feedback have you received about these practices?
The outcome of being a transparent organization is massive. It may not be something you can touch or feel immediately, but it builds a level of trust that is unmatched. As an HR business partner, I encourage employees to speak openly about challenges and be clear about their needs moving forward. This will always help in work relationships. More importantly, transparency in the workplace plays a vital role in promoting diversity and inclusion. Ensuring equal opportunities, fostering inclusive decision-making, enabling fair evaluations, building trust, addressing bias and promoting accountability help create an environment where individuals from diverse backgrounds can thrive and contribute their best.
With this, Adyen is able to build sustainable teams where everyone has a high sense of belonging. Our colleagues come from many different cultures and all walks of life, which also discourages groupthink. The feedback I have received from people seeking opportunities with Adyen is a consistent surprise around how the company “really walks the walk.” Whether you speak to one employee or 100, you’ll see consistent messaging because our values are built into our DNA at every level.
Companies use Bringg’s cloud-based logistics platform to manage last-mile deliveries as well as fulfillment and returns.
Please describe the transparent practices in place at Bringg in detail.
Transparency is a core philosophy at Bringg, guiding us as we strive to cultivate an open and honest environment based on trust. We foster a culture of empathy, encouraging deep understanding and connection among individuals. Empathy creates an environment where transparency is valued and challenges and successes are shared with care and active listening. Additionally, we prioritize a culture of feedback, promoting open communication at all levels of the organization. This includes using performance feedback sessions, roundtable discussions and employee surveys.
Leadership empowerment also plays a crucial role in creating a transparent culture. Using purposeful leadership routines, leaders are provided with information, business context and the authority to promote open discussions, collaboration and shared responsibility. Empowered leaders are able to empower teams to express themselves and use better judgment.
Lastly, open and accessible communication channels enhance transparency by enabling the free flow of information. Channels are formal and informal, such as real-time updates in Slack, company meetings, departmental meetings, business KPI dashboards and more.
Empathy creates an environment where transparency is valued and challenges and successes are shared with care and active listening.”
Why were these practices implemented?
In the past couple of years, transparency has become more important than ever as COVID-19 and the economic recession disrupted the sense of stability in our personal and professional lives. It is only natural that we seek a sense of stability, clarity and control in order to feel safe, and these have become needs that cannot be ignored. In an uncertain reality where change is constant, communication, information, knowledge and empowerment all play a critical role in achieving a higher sense of control and accountability, shared purpose and employee engagement.
Additionally, as a startup, we need to adapt to evolving circumstances. Fast adaptation requires a constant flow of information and real-time communication. By practicing transparency, team members stay informed and are able to make timely decisions. Transparency also supports a culture of collaboration and innovation where ideas can be freely exchanged and acted upon, empowering us to navigate a dynamic landscape. By embracing transparency as a means to an end, we aspire to create an organizational environment that fosters rapid adaptation and a growth mindset that drives the business forward.
What are the outcomes of this level of transparency? What employee feedback have you received about these practices?
The level of transparency we have achieved has resulted in several positive outcomes. It has fostered a culture of trust and openness, where employees feel comfortable expressing their thoughts and ideas, which promotes collaboration, innovation and shared responsibility. Our focus on empathy has created an environment where individuals feel valued, understood and supported by their leaders and peers. Additionally, our commitment to feedback and leadership empowerment has led to improved communication, growth-oriented discussions and a sense of ownership among employees.
Finally, our communication channels ensure that employees have access to relevant information, empowering them to make informed decisions and align their efforts toward shared objectives. With over 200 employees worldwide, achieving the highest level of transparency is not easy. It requires continuous thought, encouragement and bottom-up feedback. Most importantly, it requires the executive team, as well as HR, to lead by action and example, proactively seeking ongoing feedback and exploring improved ways to practice transparency in our day-to-day interactions.
Yello’s hiring technology offers a single solution for managing recruiting strategies, candidate sourcing and the applicant and interviewing process.
Please describe the transparent practices in place at Yello in detail.
We invest in frequent companywide communications like quick Monday morning update meetings, weekly notes, quarterly company meetings, and multiple yearly in-person company events. Through these channels, we share details on how we are tracking against our annual goals and details on our financial health, including our annual recurring revenue, new sales, renewals, customer retention and expense tracking. We spend time sharing internal and external success and failures, such as great product launches or outages, customer success stories and why we may have lost an account.
We ensure everyone is updated on product planning and the company’s strategic direction. Additionally, we cover promotions, the comings and goings of team members, and major activities across the company. The ultimate goal is to empower better decision-making throughout the entire organization because when everyone is pointing in the same direction and working from the same information, better decisions are made.
Why were these practices implemented?
COVID-19 helped drive a change where we not only doubled down on communication but also increased the level of detail shared across the company. There was so much uncertainty in the world and we wanted to be as direct and open as possible with our team. We leverage Slack a lot and I share detailed notes every week with the company about what is most important and what they need to know, including regular updates on sales, renewal and expense numbers.
We also have a questions-and-answers Slack channel where questions can be submitted anonymously. We’ve worked to create a culture where everyone feels comfortable bringing questions forward, even if they are tough questions — and we do get tough questions.
Transparency is also one of the things that employees share they most value about the culture at Yello.”
What are the outcomes of this level of transparency? What employee feedback have you received about these practices?
The changes we made in communication led to a 34 percent increase in employee satisfaction with leadership transparency according to data from our employee surveys, and we’ve maintained higher leadership satisfaction numbers in subsequent company engagement surveys. Transparency is also one of the things that employees share they most value about the culture at Yello, in addition to it being inclusive, supportive and collaborative.
People are clear on the direction and goals of the company, and we believe this has helped individual decision-making. There is no need to reach out to a manager every time there is a decision to be made because often an individual can make a call and get going faster.
