For Subscribers

Why Radical Transparency (With Staff and Customers) Is Good for Business

During the pandemic, entrepreneurs shared information like never before. That's not going away.

learn more about Stephanie Schomer

By Stephanie Schomer

Christine Han
Jamie Erickson, owner of Poppy's

In times of crisis, experts often have the same advice: Be transparent. There's good reason for that. "People see the news; they can read the writing on the wall," says Ana Mendy, a partner with consulting firm McKinsey & Company. "Transparency is how leaders build trust. We call it "candor over charisma.' "

At the onset of the COVID-19 crisis, most businesses took that advice. They started by sharing the literal lifesaving measures they'd taken to keep communities safe, but then something shifted, Mendy says. Businesses began sharing in ways they'd never done before — opening up about their day-to-day struggles, and starting very public dialogues with worried or confused customers. "Before, our clients would have never thought to do something broad-based on Zoom or in a two-way format," Mendy says. And now, she doesn't think it'll ever go away. "I expect the mode of communication may also shift moving forward in a way that flattens organizations and puts leaders at the center."

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Editor's Pick

This 61-Year-Old Grandma Who Made $35,000 in the Medical Field Now Earns 7 Figures in Retirement
A 'Quiet Promotion' Will Cost You a Lot — Use This Expert's 4-Step Strategy to Avoid It
3 Red Flags on Your LinkedIn Profile That Scare Clients Away
'Everyone Is Freaking Out.' What's Going On With Silicon Valley Bank? Federal Government Takes Control.
Leadership

How to Detect a Liar in Seconds Using Nonverbal Communication

There are many ways to understand if someone is not honest with you. The following signs do not even require words and are all nonverbal queues.

Business News

'Things Will Go Wrong.' Google Releases Its Chatbot Bard With Caution.

The AI-powered search tool went live today to a limited number of users in the U.S. and the U.K.

Marketing

Why Ecommerce SEO Matters More Than Ever in 2023

SEO is becoming more crucial to success in the digital age. Here's why.

Business Ideas

55 Small Business Ideas To Start Right Now

To start one of these home-based businesses, you don't need a lot of funding -- just energy, passion and the drive to succeed.