Transparency as a competitive advantage
First of all, transparency means giving every employee access to all of the company’s strategic information, regardless of their hierarchical level. First coined in 1993 by John Case as Open Book Management, “the information that employees receive should not only help them do their jobs, but to better understand how the company works as a whole.”
In other words, for John Case, companies perform better when employees feel as engaged as their top managers.
Beyond this notion of transparency, it’s also about training employees in the company’s overall strategy so that they understand what’s at stake, feel involved in the operation of the company and thus contribute to its profitability.
Transparency in companies: a strategic value
Transparency is one of the pillars of success, both for the company and for its teams.
According to Forbes, it facilitates exchanges between team members and allows problems to be resolved more quickly. It also helps to instill greater confidence in management, which has a direct impact on well-being at work and performance.
In addition, when there is trust, teams tend to feel more valued and to stay longer. This reduces staff turnover and the cost of hiring new staff. Likewise, employees who feel good in your company won’t hesitate to recommend and co-opt their acquaintances to join them.
But for it to be effective and have a tangible impact on employee engagement, it must be more than two or three announcements a year. It must be an integral part of the corporate culture and of an internal (and increasingly external) communication strategy.
Transparency and responsibility in Public Administrations
For public administrations, transparency is an obligation. Law 19/2013, of December 9, on transparency, access to public information and good governance, aims to promote and strengthen the transparency of public activity, to regulate and guarantee the right to information related to such activities and to define the duties incumbent on public officials in the area of good governance.
The law applies to all public administrations and to the entire public sector of the State, as well as to other institutions, such as the House of His Majesty the King, the General Council of the Judiciary, the Constitutional Court, the Congress of Deputies, the Senate, the Bank of Spain, the Ombudsman, the Court of Auditors, the Economic and Social Council and other similar regional institutions, within the framework of the activities of administrative law.
The law establishes the publicity obligations affecting public entities to ensure the transparency of their activity and regulates the right of citizens to access public information.
Transparency in the Digital Age
The digital age has transformed the landscape. Information is now more accessible than ever and expectations for transparency have increased. Companies and administrations must adapt to this new reality and use digital tools to share information in an active and accessible way.
Digital transparency also offers opportunities for collaboration and innovation. For example, open data can be used by researchers, entrepreneurs, and citizens to develop new products, services, or policies.
The digital era has made it possible to implement a series of tools that promote transparency, such as Infoempresa.com. Our service provides access to financial and commercial information for companies in Spain and other European countries, promoting transparency and access to information. Users can get detailed information about the ownership structure, directors, financial statements and more. This information is of great value to investors, competitors, suppliers and customers, as it allows them to make informed decisions. In addition, companies can use platforms such as Infoempresa.com to demonstrate their commitment to transparency and increase confidence in their operations.
