Employee data can play a significant role in talent retention, new research has suggested.
A report published by Gekoboard revealed that a quarter (26 per cent) of workers have left a job due to a lack of business transparency.
In addition, over four in five (80.4 per cent) of those polled said they wanted their bosses to share more information with them.
Despite the high demand for information, less than one in ten (nine per cent) reported that they are aware of company progress in real-time.
Speaking about the research, Paul Joyce, chief executive of Gekoboard, said: "They say no news is good news; however our research shows that this is far from the case when it comes to business management. Without a clear view of the company position, how can we expect our employees to make the right decisions and perform against business KPIs to drive business growth?
“Ditching the style of mushroom management and instead adopting a clear, transparent data position with staff will not only boost morale, but will help a business get the most out of its employees."
Failure to share company data was creating an atmosphere of mistrust, according to the study which showed that four in five (79 per cent) said that they did not trust their bosses who failed to share company data. Over a quarter (28 per cent) said that the lack of information led them to believe their boss was playing power games.
The report clearly highlights the value and the high demand for data, not just among businesses but employees themselves.
However, one way that businesses can create more trust among their workforce is by giving them the tools to take more control over their own data.
One such tool for example, is Self Service HR technology which allows employees to check their own records quickly and easily and update their own personal details subject to authorization.