Making Book On Open-Book Management
You know the theory: sharing profits and financial information with employees is supposed to make them feel and act more like owners. But how can you tell whether employees understand -- or care about -- the numbers you're giving them? One CEO tells us he knew for sure that his workers had bought into the company's open-book system when he noticed a new twist to the office betting pools. In addition to gambling on football games, employees had started using their knowledge of the company's operations to bet on the size of the monthly profit-sharing bonus. Our question is, who sets the odds? Open bookies?