In our experience leaders (with the best intentions!) promise full transparency but rarely can deliver. There is information in an organization that needs to be handled with sensitivity – more importantly, actual full transparency is not necessarily something people want.
A study by McKinsey showed that employees generally want enough information to do their job but do not need or want to know every detail. It's more about understanding how their role fits into the overarching business strategy, the knowledge around how key decisions are being made, and trusting that someone is managing information and its implications responsibly.
We’ve found it's not about promising full transparency, but committing to responsible, thoughtful, and consistent communication – and beyond this, treating your employees like adults, letting them into how you’re making disclosure decisions and if you don’t know the answer to something own up to it.
Sources:
McKinsey & Company. “The dark side of transparency.” McKinsey
Forbes. “The Case For Transparency In The Workplace, And Its Impact On Organizational Performance.” Forbes