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:
Not too interested
Not at all interested
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.
Yes, we share financial information with select employees.
No, we don’t share financial information with employees.
“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.”
- 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.
For more advice on how leaders can effectively communicate, visit the Robert Half blog.
About the Research
The online surveys were developed by Robert Half Management Resources and conducted by independent research firms. They include responses from more than 1,000 CFOs in the United States with 20 or more employees and more than 1,000 workers 18 years of age or older and employed in office environments in the United States.