I read an interesting article that talks about “the open-book revolution”. It is a style of management that says that if you want to compete and grow, you have to be open with all your employees, do not hide any business details from them and let them feel that they are part of the wheel. It is a way of management that says employees have to be involved in the figures to be able to suggest and adopt ways of cutting costs and solving problems.
I personally like the idea of making everyone responsible. The old fashion way of “I am the boss” does not work anymore. When you as an employee feel that you are a decision maker and that you take responsibilities higher than your title, you become energized and you innovate. You will not imagine the number of ideas and ways of tackling problems that could come up from this way of managing people.
the quotation below from the article summarizes it all:
“chain-of-command style of management is out; today’s boss is supposed to walk around, involve the troops, and encourage participation. Gone, too, is the notion that employees are no more than tiny cogs in a machine. Workers are now supposed to take on big responsibilities — to solve problems, cut costs, and reduce defects. The language of business reflects the new ideas. Trendy companies don’t have employees, they have associates. They don’t have managers, they have coaches.”
Is there a risk involved?
Yes, there is! when all employees (even juniors) know all the business details (including the details of your books) they could use it against you, especially if it goes to your competitors. But when we really think it over, anyone who has the bad intention will be able to harm your business anyway. Even if you do not tell him yourself, he will figure out a way to sneak in and get the information he needs to use it against you.
So, I believe that the new open-book revolution is the right way to manage. I like the part where they say that companies no longer have managers, they have “coaches”…..this is the best way I think to generate effective output; to be a coach not just a manager.
There are still some managers who micro-manage. The image on the left demonstrates what happens when people do that, you just create stupid followers!!
You need to trust your staff, delegate intelligently and give them the full authority and you will see the vast benefits that you will reap.