While employees at publicly traded companies are offered an inside look at their companies' financial performances each quarter, those at privately held companies are less likely to receive information on financial performance, according to a new survey by Robert Half Management Resources.

In fact, 76 percent of private-company chief financial officers surveyed report their companies don't give quarterly or annual financial updates to all employees while 17 percent of private-company respondents do so. Only 7 percent of private-company respondents share financial information with all employees.

"Private companies are not obligated to publicly issue financial results, but providing at least some indication to employees of how the organization is faring could ease any uncertainties that may exist," says Paul McDonald, a senior executive director with Robert Half. "Financial data is sensitive and complex, but choosing a few basic metrics to share can help staff develop a better understanding of the business and the challenges it faces and build stronger team focus.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.