Many CEOs are hesitant to openly share that they are often the only ones losing sleep over the business, and they believe that it can't change. Well, I call BS on that!
In order for others to "lose sleep", they need to know the company situation in numbers. Numbers tell stories and drive behavior. If only a handful of people know the numbers, only a handful of people will truly care to the point of "losing sleep".
If CEOs openly share up-to-date financial numbers with employees, they fear unpredictable reactions or decreased morale. However, these downsides are myths. Sharing real-time financial and business metric data with context empowers employees and elevates performance across the organization.
Myth 1: Employees Aren't Smart Enough to Understand the Financials
Some leaders believe that sharing financials will confuse employees who won't be able to comprehend them. But they hired smart people - no? With training, education, and context, employees at all levels can interpret financial statements in a way that empowers them to make better decisions aligned with company goals. Underestimating employee capabilities breeds resentment and distrust.
Myth 2: Employees Will Panic/Judge
CEOs often worry that exposing poor financial results will panic employees and tank morale. Or if the numbers are too good, they'll judge and expect the CEO to be driving Ferrari's to the office. However, transparency builds trust and shows employees that leadership has faith in them. With context and education around the numbers, employees feel equipped to positively contribute, not anxious and disempowered. Openness communicates that “we’re all in this together” to drive results. And if the results are so good, CEOs should be sharing some of the profits with their employees anyway.
Myth 3: Employees Will Misuse Information
Leaders may worry that employees will misuse financial knowledge, whether through leaks or self-serving actions. However, transparency does not mean losing control. With the right financial literacy training, employees learn to interpret numbers correctly and rally behind the company's interests.
When leaders openly share financials with care, education, and visibility into key metrics, the benefits are immense:
Employees gain context to prioritize work aligned with financial goals
Teams can course-correct quickly, rather than waiting for quarterly results
Employees feel trusted and valued, increasing engagement and morale
Innovation blossoms as employees gain visibility to contribute ideas
Employees at all levels learn finance literacy and business acumen
The bottom line? Sharing real-time financials signals trust in employees as partners in driving organizational success. With context and literacy training, employees have the vision to align their performance to financial goals, unlocking motivation, innovation and results across the business. The myth of downsides is far outweighed by the reality of engagement, productivity and profitability gains.