When you become the owner of a small business, and hire your first batch of employees, you have the choice of what kind of boss you’re going to be. Are you going to bring in bagels every Friday morning with a twinkle in your eye only to announce, “Everybody off two hours early today!” Or do you steer a little more towards the Miranda Priestlys of the world a la "The Devil Wears Prada"? Along with that decision comes the choice of how much company information you’re willing to share with your team. Some companies have chosen to go the very open route and share just about everything with their employees. Then there are other CEOs who feel sharing that much with employees will just lead to inner-company drama.
So on the days that you’re not sure how much is too much, refer to our easy ‘Do Share’ and ‘Don’t Share’ list for a reminder as to what is and isn’t appropriate to share with your employees.
Do Share: Monthly Sales Numbers
In the front of our office we hang a big thermometer on the well, complete with dollar amounts lining the sides, to fill in as we hit a new number at the end of each day. Not only is it a great way to keep everybody aware of how we’re doing, but it’s good for building a sense of teamwork and camaraderie. If we hit our goal for the month (get to the top of the thermometer) I order the team lunch, and we celebrate!
Don’t Share: Salaries
Though it may work for Whole Foods, in a small business setting, sharing salaries can lead to internal conflict. Each CEO will have a unique method for determining salaries based on seniority, experience, and a lot of other factors specific to each situation. Just giving out the salary information without a lengthy explanation behind each case is asking for trouble.
Do Share: Employee Transitions
Instead of hoping an employee that has chosen to leave the company exits quietly and unnoticed, let everyone know that they are moving on, and that you all wish them the best. A simple update email about new things happening in your business with a quick mention of the departing employee along with a goodbye at the end of the update will suffice just fine.
Don’t Share: Employee Vacations
Though it’s nice to say goodbye to an employee when he or she leaves the company, you do not need to let everyone in the company know of each and every vacation an employee takes. Alert the departments that will be affected so that duties can be re-arranged for the absence, but alerting everyone of every vacation is unnecessary and can again lead to internal drama.
Do Share: Overall Company Profit/Loss Numbers
About once a year I like to send out an email about what our company has accomplished for the year, and what areas I feel we need work in. In this email I typically include, in percentages, how much we've profited financially compared to previous years. How specific you want to get -- if you want to use percentages, actual numbers, or a pie chart -- is up to you.
Don’t Share: Your Drama
Though it is common for small business employees to feel like a little family, it’s important to still maintain a level of professionalism. Feel free to share that you’re married, but maybe don’t detail the fight you had with your spouse last night.
