Business accountability refers to a company’s ability to confer responsibility in the non-financial areas of operations — for instance, social responsibility and environmental impact.
When businesses become accountable, they prove to their customers that financial profits are not their only goal. Responsible enterprises move with accountability towards community, environment, women, and children, which drives business as a side-effect.
However, accountability in our corporate work is a daily quality that improves work and business relationships. Many leaders educate their employees about accountability but are themselves poor role models of it.
Accountability is not only an essential quality in business but also in life as individuals. Think of a life where people had no answer to why they did what they did.
So, let’s look into the next section on how to make businesses accountable.
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Accountability is a side-effect when employees and leaders align themselves with the vision of the company. Many times people aren’t accountable in corporations is because they do not care enough.
Despite various talks and discussions in corporations, accountability is a constant struggle. Transformational leader Anne Loehr claims that 93% of employees are unaware of what their company wants to accomplish, making it harder for them to achieve accountability.
A workplace where everybody blames one another for mistakes creates a cascading effect throughout the company.
However, an organization where everybody takes a hundred percent responsibility for their actions and decisions creates a positive atmosphere. It snowballs into everybody being accountable and responsible workers.
Most employees working at your enterprise know what their responsibilities are.
They know precisely what they’re expected to do. When employees are made accountable for their actions, it gives them a sense of pride in their work. They also feel they are part of something bigger than themselves.
When you confer accountability upon them, you put your trust in them. You tell them, “I trust you and understand that you know better how to achieve results. In case you need my help, I am there.”
This gives them a sense of self-confidence, and they perform better.
Accountability is an excellent way to augment your bottom line. It is clear that when you and your team are not detecting bottlenecks within your business, you can plan and strategize on ways to push the company forward.
When employees see each other being more accountable, they push their limits and walk the extra mile. A company culture with greater accountability tends to outperform its competitors and drive 21% higher profitability, Forbes claims.
Many business coaches like Jason Blumer say that healthy doses of accountability keep people motivated and maintain a flow of ideas and execution, which is the simplest way to move forward.
The best way to achieve accountability in your business is to lead by example. When people observe every day that the top 1% of people in the organization act responsibly and don’t rely on hearsay, they will adopt the attitude into themselves.
After all, it is unfair to expect something like accountability from others when you as a leader fail to deploy it.
Accountability is the way for businesses!