Okay then. Your peers who do will show a return on assets six times higher than your company achieves. If you don’t want to make the case for an open communication culture, then your chances of creating customer loyalty top out at 64% compared to your peers. And since a 5% increase in loyalty creates a 25% to 95% profit increase, can you really afford to be losing 36% of potential loyalty? Think about it.

So what is an open communication culture? It’s one in which information flows freely and is easily accessible to both insiders and to the public at large. And, consistent with the culture and values of the organization, its leadership enables, advocates and provides open access to information in which employees, customers, shareholders and the general public have a legitimate interest. Pretty straight-forward, eh? So why don’t you have one?