Businesses the world over run on optimizing processes. It is through this habit they can begin to blossom. It has been known that businesses sometimes take certain shortcuts to success, and this can often lead to controversy or a bad working atmosphere for those involved. While Jeff Bezos and Elon Musk are inspirational figures, bad working conditions have been alleged for some of their businesses. This negative PR can often cripple businesses and their income. It can lead to a brain drain of skilled employees wishing to work elsewhere. It can limit shareholder value, or investment at all.
Of course, your business is certainly allowed its secrets. But it must also ensure a layer of transparency to ensure its ethical practices are possible to observe. In short, you need to ensure your business has nothing to hide. As a wise man once said, if you tell the truth, you won’t have to remember anything.
This is a very idealistic way of looking at things of course. Putting things into practice via this vein can be much harder. However, this guide hopes to imbue you with advice to make that a reality. Consider the following:
Staff Policy
A stringent, clear and well written staff policy, in full compliance with employment legislature and written with lawyers present, can ensure your staff contracts are watertight. This can help you take action against staff that are impeding your business, or perhaps causing issues for your business.
This can help you refute wrongful termination claims, or perhaps litigate against employees who reveal confidential information about your business.
It can also show the care you take in ensuring staff safety and working enjoyment. This might mean that if your business is ever called into question about staff safety policies, you can show this fundamental document as well as evidence that you act with safety as a main priority. With this, you can also see how you manage and care for staff, such as detailing HR protocols, expected behavior, time off and holiday accrual among many other things.
Of course, this might also detail your hiring process. If accused of only hiring one particular demographic of people, you can prove alleged bias incorrect by showing the fair procedure you apply to your proceedings. It has been leveled against high-profile tech firms (those that we will not name here,) that those of East Asian descent often make up the fundamental demographic of the high-profile design teams. What may seem like initial prejudice against other races is absolutely proven wrong when the statistics line up with the graduating success of this demographic in the highest end of the STEM cell markets. In other words, and of course without making a blanket statement, in these situations it has been shown that pure merit is to thank for this demographic makeup. With information like this, and similar statistics like it, you can defend yourself against unfounded criticisms, and prove your heart is in the right place.
This staff policy should be only gifted to new hires of course, but should have thought of everything in the life of an employee. Why spend so much time crafting this document in clear, easy to understand language? It can help you draw the line between a staff member acting out of line, and you acting out of line, effectively helping you stay financially and reputationally immune if a negative exchange comes to pass.
Accounting
Accounting is essential to consider when managing your financial status. Without a competent account service at your side, you’ll struggle to manage all of your firm's affairs, big or small. Accounting is a full time job. It requires intelligence, patience and continual care. Without this, you can land yourself in hot water.
A mismanaged budget here, tax errors there and even hidden embezzlement have been known to bring businesses down before, perhaps businesses even larger than yours. No matter who you are, your financial matters are the backbone of your operation. With a diligent eye watching from the background and helping you inform your decisions, you will be a better service as a result. It’s also important to build strong ties to an accounting service or your accounting staff. Ideally, relationships that last for years. This is because accounting is often a historical process, something that is informed by long-term understanding beyond the numbers, and ability to read yours in context and use them to predict future patterns.
Invest heavily in correct accounting. It will structure your business in ways you may never fully know.
Admitting Mistakes
There’s nothing more suspicious than a business that cannot, will not, will never admit it’s made mistakes. Of course, admitting one of your products sucks or that your service was sub-par can always be avoided, or perhaps phrased in a different way. But refusing to apologize, to comment on large scandals, or to be present at all can all be considered the opposite of strong, but fearful. While you shouldn’t argue with every bad tweet on the internet (you’d be there until the end of time,) a healthy attitude to admitting mistakes can be well worth it.
For example, let’s say someone leaves you a negative review because of bad service they received. Instead of arguing with them (unless they are being unreasonable,) apologizing, stating you’ll get to the heart of the issue and perhaps compensating them for their difficulty can help your business take on a responsible air.
This can help people see your firm as one with its ethical principles in place, a firm with the ability to make changes and develop well. With this, people can see your firm as an ever growing, changing enterprise, perhaps one they begin to root for. Without this you seem stiff, unchanging, uncaring, and as if you have something to hide. Always hope to act as this former firm. You will build goodwill organically if you can achieve it.
Conclusion
It can also show the care you take in ensuring staff safety and working enjoyment. This might mean that if your business is ever called into question about staff safety policies, you can show this fundamental document as well as evidence that you act with safety as a main priority. With this, you can also see how you manage and care for staff, such as detailing HR protocols, expected behavior, time off and holiday accrual among many other things.
Of course, this might also detail your hiring process. If accused of only hiring one particular demographic of people, you can prove alleged bias incorrect by showing the fair procedure you apply to your proceedings. It has been leveled against high-profile tech firms (those that we will not name here,) that those of East Asian descent often make up the fundamental demographic of the high-profile design teams. What may seem like initial prejudice against other races is absolutely proven wrong when the statistics line up with the graduating success of this demographic in the highest end of the STEM cell markets. In other words, and of course without making a blanket statement, in these situations it has been shown that pure merit is to thank for this demographic makeup. With information like this, and similar statistics like it, you can defend yourself against unfounded criticisms, and prove your heart is in the right place.
This staff policy should be only gifted to new hires of course, but should have thought of everything in the life of an employee. Why spend so much time crafting this document in clear, easy to understand language? It can help you draw the line between a staff member acting out of line, and you acting out of line, effectively helping you stay financially and reputationally immune if a negative exchange comes to pass.
Accounting
Accounting is essential to consider when managing your financial status. Without a competent account service at your side, you’ll struggle to manage all of your firm's affairs, big or small. Accounting is a full time job. It requires intelligence, patience and continual care. Without this, you can land yourself in hot water.
A mismanaged budget here, tax errors there and even hidden embezzlement have been known to bring businesses down before, perhaps businesses even larger than yours. No matter who you are, your financial matters are the backbone of your operation. With a diligent eye watching from the background and helping you inform your decisions, you will be a better service as a result. It’s also important to build strong ties to an accounting service or your accounting staff. Ideally, relationships that last for years. This is because accounting is often a historical process, something that is informed by long-term understanding beyond the numbers, and ability to read yours in context and use them to predict future patterns.
Invest heavily in correct accounting. It will structure your business in ways you may never fully know.
Admitting Mistakes
There’s nothing more suspicious than a business that cannot, will not, will never admit it’s made mistakes. Of course, admitting one of your products sucks or that your service was sub-par can always be avoided, or perhaps phrased in a different way. But refusing to apologize, to comment on large scandals, or to be present at all can all be considered the opposite of strong, but fearful. While you shouldn’t argue with every bad tweet on the internet (you’d be there until the end of time,) a healthy attitude to admitting mistakes can be well worth it.
For example, let’s say someone leaves you a negative review because of bad service they received. Instead of arguing with them (unless they are being unreasonable,) apologizing, stating you’ll get to the heart of the issue and perhaps compensating them for their difficulty can help your business take on a responsible air.
This can help people see your firm as one with its ethical principles in place, a firm with the ability to make changes and develop well. With this, people can see your firm as an ever growing, changing enterprise, perhaps one they begin to root for. Without this you seem stiff, unchanging, uncaring, and as if you have something to hide. Always hope to act as this former firm. You will build goodwill organically if you can achieve it.
Conclusion
With these simple tips, ensuring your business has nothing to hide can be a fruitful, continual and achievable process. Transparency is an asset your business should prioritize!
I hope you enjoyed this article about how to ensure that your bootstrapped business is transparent and open.
Interested in more articles about business culture?
Read My Posts:
- Moral Management To Keep Your Business Ethical
- Why Customer Service Is Crucial
I hope you enjoyed this article about how to ensure that your bootstrapped business is transparent and open.
Interested in more articles about business culture?
Read My Posts:
- Moral Management To Keep Your Business Ethical
- Why Customer Service Is Crucial
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