CEOs Should Tell It Like It Is
As the highest-ranking person in the company, you think that you are best able to handle bad news. The opposite is true nobody takes bad news harder than you. If things go horribly wrong, others can walkaway, but you cant. As a consequence, employees handle losses much better.
There are three key reasons why being transparent about your company’s problems makes sense:
Trust. Without trust, communication breaks. As a company grows, communication becomes its biggest challenge. Telling things as they are is a critical part of building this trust. A CEO’s ability to build this trust overtime is often the difference between companies that execute well and companies that are chaotic.
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