L
THE TRANSPARENCY TRANSFORMATION: EVOLVING YOUR BUSINESS FROM OPAQUE TO OPEN
ast year, KSM Transport Advisors (KSMTA) published a monthly article highlighting the key traits of highly profitable trucking companies.
The main themes were based on many decades of observations and discussions with over 200 carriers. This series hit the mark with carriers and discussed many often-overlooked business characteristics that could steer carriers toward important company discussions, positive change, and greater profitability.
Based on the very positive feedback and requests to provide more actionable steps to implement and embody these traits, this year’s monthly series will offer a detailed roadmap for carriers to use as a guide. We will also share in-depth profiles of the companies that were used as role models for the 12 Traits series.
Circling Back to the Trait of Transparency
Our first focal point of the year goes back to the trait that kicked off our 12 Traits series: transparency. It may not be the most important of all the traits, but it generated some passionate responses, mostly expressed as fear of becoming transparent. More specifically, a worry that employees may decide to “jump ship” if they see the true economic realities of trucking from the income statement level. This is all relative to the current state
of the industry. For example, in upcycles, the fear would be of key employees asking for a raise.
In reality this fear of creating internal turmoil is completely
unfounded. One of the most important by-products of becoming more transparent (open book management) is that it will give employees greater insight into the company’s margins and lead to a more
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CARRIERS & BROKERS
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