Most Canadian employees want updates on company's financial performance

Three quarters (77%) of workers in Canada said they are interested in hearing about their organization’s financial performance, according to a recent survey from HR and staffing consultancy Robert Half.

Though private companies don’t have to disclose financial results, 88% of CFOs said they share quarterly and annual information with at least some employees – up from 53% in a similar Robert Half survey from 2016. Forty-eight percent of CFOs said they share financial info with all employees – up from 27% in 2016.

Workers were also more interested in hearing about their company’s financial performance, with 77% very or somewhat interested. This was up from 2016, when 55% were very or somewhat interested.

"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."

King also recommended that managers discuss company goals with employees and ask for input. “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."

There firm also offered a few tips on sharing financial performance insights with staff. First off, companies need to determine what to share by getting a sense of what staff want to know and what management is comfortable disclosing. Consultants can help with this by shedding light on best practices at other firms.

Companies should also create an info schedule and let staff know when they will receive updates. It’s also a good idea to let employees “connect the dots” by showing them how their works is affecting the bottom line.

Finally, Robert Half recommends that companies thoroughly explain the numbers to staff, remaining available to answer questions and address concerns.