Open book management can empower employees

07/9/2009 | Bloomberg Businessweek

Giving employees access to a company's financial records can increase sales and cut costs, writes John Tozzi. Showing employees exactly how much money they need to pull in to keep the company afloat can be a powerful motivator in tough times, he notes, while having a broader sense of their financial impact on the company can help them find ways to do their jobs more efficiently. It's not enough just to provide access to data, Tozzi argues, leaders have to be willing to give workers the ability to act on the information they're being handed.

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