Staff quitting over 'hidden' company information

UK and US firms are accused by employees of a 'business information blackout', leading to an increase of walk-outs in favour of jobs with increased transparency and trust...

LONDON - October 29, 2015.

A survey of two thousand employees in both countries by the company metrics firm Geckoboard found 26 per cent will be heading for the door this year because of frustrations over a lack of access to financial and business data.
 
The key performance indicator firm's findings show that over 80 per cent of employees think managers should be sharing more of their company's information with them, with less than one in ten aware of their firm's progress in real-time.
 
Only nine per cent believe their bosses are data-driven, with over a quarter accusing employers of creating an atmosphere of mistrust by not sharing data with them - a factor they attribute to bosses 'playing power games'.
 
Just over half of those polled admitted to playing detective and sourcing their own information about the business, either by gathering data internally or by using business intelligence agencies to get a true picture of their firm's financial status.
 
Half again admitted their level of productivity was closely tied to their knowledge of the integrals of their employer's financials, with transparency directly affecting their efficiency.
 
The highest proportions of employees looking for business information about their own company, by sector, were: Human Resources (74%), Arts (67%), IT (60%), Professional Services (59%), Legal (58%).
 
Some 93 per cent said they would rather know the details of problems within the company than not.
 
In a phenomenon termed 'mushroom management' by analysts, only half of UK workers get to see their key company data quarterly or less, with the other half left completely in the dark about their company's financials.
 
Geckoboard asked: "How can employees be expected to make good decisions and perform against business KPIs to drive business growth if they cannot see a true picture of a company's operations?"
 
Experts suggest reasons for transparency within a company can provide a decisive advantage over the competition.
 
While, transparency is about speed of execution, organisations that embrace transparency can move faster than 'opaque' rivals, they argue.
 
Clearly, Dave Girouard - former president of Google Enterprise - would agree with this sentiment. He has said: “All else being equal, the fastest company in any market will win”.

Presswire

Further Information


PARTNER