In today’s day and age, it is integral for companies to be as transparent as possible when it comes to their external and internal affairs. Transparency with the media is also something that comes in handy, especially with review websites, like yelp.
Transparency in business is positively correlated with higher employee morale and productivity. Transparency builds trust and makes employees feel like they are working for a company that has high ethical standards.
While transparency has only more recently become a bigger priority as of late, it is still very important and has become so due to distrust of large corporations, social media visibility, and availability of information.
Thanks to the internet, companies are finding that they need to be more visible with their media, which also means that they need to be more transparent with their dealings. It is unlikely that the demand for transparency will decrease, especially as we become a more interconnected world. Businesses need to be prepared.