According to the most recent EX Intelligence Report by leading global advisory, broking and solutions company WTW’s (NASDAQ: WTW), companies that provide transparent communication to employees during turbulent times are more successful.
The report finds that 82% of employees in financially high-performing companies are more likely to say their leaders are providing a clear mission and strategy compared with their peers in average performing companies (76%).
High-performance companies are distinguished by their ability to communicate effectively, inspire employees around their purpose, build high levels of trust in their leadership, drive a competitive position in the market, and recognize employees through transparent and equitable pay and benefits.
In contrast, average-performing companies often struggle with effectively conveying their mission and strategy, leading to a disconnect between leadership and the workforce. This gap in communication can have far-reaching consequences, including reduced innovation, lower morale and diminished productivity.
The most high-performing companies prioritize making use of employee insights and supporting better communication, trust and engagement. In fact, 79% of employees in financially high-performing companies believe their leaders are making a more concerted effort to gather their thinking and opinions compared to only 68% of employees in average-performing companies.
“As the economic landscape remains uncertain, companies that effectively communicate and bolster employee insights are likely to see better outcomes in terms of employee engagement and overall performance,” said Jill Havely, head of global community excellence, Employee Experience, WTW.
“In an environment characterized by rapid change and increasing complexity, top-tier organizations recognize the value of employee insights and make use of them to shape rewards landscapes and communication strategies focused on two-way dialogue that foster trust and engagement.”
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