You are using an outdated browser. Upgrade your browser today for a better experience of this site and many others.
Should you open the books to employees?
At Connected Accounting we can advise business owners in the St Albans area on many of the issues you face. Here are some of the possible advantages of opening the books to your staff...
Opening the books to employees is a strategy that has been tried to varying degrees by business owners over the years, and has often proved to be successful in motivating the workforce and improving performance.
Those who have taken this route report a number of benefits:
Not every owner would want to go so far as to reveal everything to the staff, but it might be worth considering at least a little more transparency for your business.
For the strategy to succeed you will need to develop a system of reporting that provides your employees with timely financial information in a form they can work with. We would be happy to help you.
If you are in the St Albans area and are looking for support and advice from a team of professional accountants and business advisers, contact Connected Accounting.
09 Jul 2025
UK-based holders of cryptoassets will have to provide personal details to crypto service providers or face penalties of up to £300 from HMRC.
08 Jul 2025
Inheritance Tax (IHT) on pensions is the most unpopular of the tax raising measures introduced by the Labour government during its first year, according to a survey.
07 Jul 2025
HMRC plans to introduce a tax avoidance criminal offence risks overreach, the Chartered Institute of Taxation (CIOT) has warned.
04 Jul 2025
Prospective pension reforms could see small firms raise prices, cut jobs or slash profits, the Federation of Small Businesses (FSB) has warned.
03 Jul 2025
Business confidence rose in June building on a sharp rebound in May, according to Lloyds Bank's Business Barometer.
02 Jul 2025
More than one in four UK businesses have been the victim of a cyber-attack in the last year, with many risking 'sleepwalking' into disruption, according to a new report.
01 Jul 2025
MPs have warned that some people who pay into a Lifetime ISA might get less out than they put in.
30 Jun 2025
A Freedom of Information (FOI) request has revealed that high earners in the UK are facing a significant rise in tax investigations by HMRC as a result of a record-breaking amount raised by compliance revenue.
Get in touch with us today for a fresh perspective and a free consultation.