Should companies open their books to employees? New research from global staffing firm Robert Half Management Resources shows 77% of workers in Canada are interested in hearing about their organization’s financial performance. In a separate survey, the majority of CFOs (88%) said their company regularly shares this data with at least some staff; 48% give updates to all workers. 

While private companies aren’t required to disclose financial results, 84% of CFOs at these organizations said quarterly and annual information is made available to at least select employees, up from 53% in a similar 2016 survey. 

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 – 48%
  • Yes, we share financial information with select employees – 39%
  • No, we don’t share financial information with employees – 12%
    *Responses do not total 100 per cent due to rounding

Workers were asked, “How interested are you in hearing about your company’s financial performance?” Their responses: 

  • Very Interested – 38%
  • Somewhat interested – 38%
  • Not too interested – 16%
  • Not at all interested – 8%

“Financial transparency provides staff valuable insight into the company’s performance, shedding light on potential growth opportunities for individuals and the business itself,” said David King, senior district president of Robert Half Management Resources. “By connecting the dots between organizational performance and team efforts, leaders show employees how their contributions positively impact the bottom line, which can help keep them motivated.” 

“Have regular discussions with employees about the goals of the organization and invite them to share their ideas where it fits,” King added. “Professionals are drawn to companies that demonstrate trust in their staff’s opinions and actively engage with the things that matter to them ― which makes promoting open lines of communication around business objectives an important way to attract and retain talented workers who want to have a voice.”

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 300 CFOs in Canada with 20 or more employees and more than 500 workers 18 years of age or older and employed in office environments in Canada. 

Source: Cision News Wire