A new study from Robert Half Management Resources revealed that 53 percent of all professionals wish they had more insight into the effects of their contributions on their companies' bottom lines.
This is especially true of younger workers. Nearly 65 percent of those surveyed who were between the ages 18 and 34 said they wanted more information on how their work helps their company make money.
"Employees who see the direct correlation between their contributions and company performance are more engaged, make better spending decisions and can identify new ways to increase productivity and growth," Tim Hird, executive director of Robert Half Management Resources, said in a statement.
Currently, 47 percent of the workers surveyed said they are always able to make the connection between their day-to-day duties and how they contribute to the company's bottom line. Meanwhile,14 percent said they are rarely or never able to connect those dots. [See Related Story: Communication Is Key to Genuine Employee Engagement]
When examined by age group, those typically in leadership roles have the hardest time making those connections. Just 38 percent of those between the ages of 35 and 54 are always able to understand how their work affects the bottom line, while 19 percent said they aren't able to make those connections on a regular basis.
"It is concerning that so many workers who are 35 to 54 — a group that often serves as managers and top executives — lack a complete understanding of how their responsibilities help their organization's bottom line," Hird said.
Since younger workers put more of a priority on knowing how their work is serving a larger purpose, it is critical that employers make sure they are helping them connect those dots, Hird siad.
"Managers who do not have regular conversations with staff about how their work affects the company are missing a major opportunity to develop ideas for improving the business," he said.
To help employers, Robert Half Management Resources offered several tips for keeping workers more informed about how they are contributing to the company's financial standing:
- Give updates to everyone. Often, employers provide financial updates only to high-ranking managers and executives. Conversations about company performance and how workers are meeting, or not meeting, goals should be held with everyone in the organization, regardless of their level. Giving workers a better understanding of how their contributions make an impact is a good way to help employees improve their performance.
- Have regular discussions. Instead of detailing how the company is performing only once or twice a year, employers should have their managers give more specific feedback to individual employees on a regular basis.
- Get an outside perspective. It never hurts to hear what those outside the organization think of how the company is performing. Every so often, check in with those in your network, or industry consultants, to not only get their insight into how the company is performing, but also to learn best practices from other organizations.
The study was based on surveys of more than 1,000 U.S. workers over the age of 18 who were employed in an office setting.