Open books show how staff aid firm’s success — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Open books show how staff aid firm’s success

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Every employee of Anthony Wilder Design/Build near Washington, D.C., has an educated opinion about the small firm’s finances—because the owners hired a coach to teach them about business finance.

Founders Anthony and Elizabeth Wilder have opened the remodeling firm’s books to employees so they can see the bottom-line impact of their work and their decisions. They also give their 30 employees a bonus based on quarterly profits instead of on performance so they have a stake in the firm’s success.

The result: Employees at the $7.7-million-per-year firm have come up with cost-cutting ideas—like canceling the text-messaging service on all business cell phones. They even agreed to pay cuts of up to 30% to keep the firm solvent during the recession.

Contact: Elizabeth Wilder at (301) 907-0100.

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