Expose your financial secrets to employees? Are you crazy?
Want a fast way to jump-start your workers' productivity? Open your books to them--that means the P&L statement and much of the rest of your financial recordkeeping. Can it really be that simple?
Apparently so. Since we wrote about the subject four years ago, numerous companies have jumped on the bandwagon. "Companies that have done this have seen higher productivity and large increases in profits," says Craig Minnick, managing director of American Express Tax and Business Services Inc. (TBS) in Chicago.
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