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Businesses should be more ‘transparent’ with their finances

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Businesses working in serviced offices and other buildings should adopt a policy of transparency with regards to their finances, suggests the Stress Doctor.

Terri Bodell, a clinical psychotherapist and the Stress Doctor, explained employees who know the financial situation of the company they work for will feel a lot better for it, especially if the finances are in good shape.

She said: “I think one of the concerns in the workplace these days is that companies get very tight-lipped during economically restricted times, and they don’t tell their employees anything.

“If there are situations where [the business] is not doing very well financially, the best thing you can do is to tell your employees and ask if they can all pull together and help you to get through.

She added that businesses were more likely to get better output from their staff than they would if they kept “tight-lipped”.

Her comments come on the back of new research from executive search and leadership consultancy Korn/Ferry Whitehead Mann, which discovered workers in the UK rate communication skills as the most important factor for effective business leadership, but only 21 per cent believe their boss to be a good communicator.