Survey: 82% Of Workers Want Updates On Company Financial Performance
Thursday, January 30th, 2020
Should companies open their books to employees? New research from global staffing firm Robert Half Management Resources shows a majority of workers (82%) are interested in hearing about their organization's financial performance. In a separate survey of CFOs, 88% of respondents said their company regularly shares this data with at least some staff; 56% give updates to all workers.
While private companies aren't required to disclose financial results, 87% of CFOs at these organizations said quarterly and annual information is made available to at least select employees, up 31 points from a similar survey in 2016.
Workers were asked, "How interested are you in hearing about your company's financial performance?" Their responses:
Very interested |
53% |
Somewhat interested |
29% |
Not too interested |
9% |
Not at all interested |
8% |
99%* |
*Responses do not total 100 percent due to rounding. |
CFOs were asked, "Does your company provide employees with regular updates on its quarterly and annual financial performance?" Their responses:
Yes, we share financial information with all employees. |
56% |
Yes, we share financial information with select employees. |
32% |
No, we don't share financial information with employees. |
12% |
100% |
"Staff feel more invested and engaged when leadership provides updates on company performance," said Jason Flanders, executive director of Robert Half Management Resources. "Professionals are also often happier and more productive if they understand how their work contributes to the firm's bottom line."
Flanders added, "In today's competitive hiring environment, business transparency may provide a recruiting advantage. Job seekers want to identify with an organization's goals and strategies and are drawn to employers that provide open, ongoing communication."
Additional findings:
More publicly traded (68%) than privately held (55%) companies provide all employees with financial updates.
Large companies with 1,000 or more employees (65%) are the most financially transparent.