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Sharing information with employees should include financials

Clearly the employees in the operations department of a company would benefit from feedback on the quality and process times of the work they were doing to suggest where they could make improvements.

Identify the role, if any, for sharing financial information with these employees to help them in their efforts to improve quality, productivity, and process times. Please be specific about the types of financial information that would be helpful and the specific decisions or actions that could be made better by supplementing physical and operational information with financial information. Thanks for helping me out here!

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Employees and companies benefit from honest feedback. A company wants high quality cost effective work and employees will want the same if they know and understand where the company is headed. Employees should know and understand the company's strategic plan. The strategic plan includes financial data. In this day many companies are having difficult times and everyone is talking about working "lean" and how much things cost. Employees that do not know how the company is doing will hear or start rumors. Rumors in a company cause nervous employees which will decrease the ...

Solution Summary

This solution contains 401 words that describe open honest communication with employees. Employees need to know and understand the companies strategic plan, financial information is a part of this.