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Ways to Share Company Financial Information with Employees

Ways to Share Company Financial Information with Employees

The title of chief financial officer comes with a number of responsibilities, most notably managing and reporting the company's quarterly financial results.

Still, while these quarterly results are made public, it is essential for CFOs to share their company's financial information with their own employees on a regular basis. This allows staff members to have a feel for the company's well-being and an understanding of what direction it is heading in.

Wayne Rivers, president of The Family Business Institute, told Inc.com that practicing transparency was a crucial part of building a cohesive company culture.

"Its consistent with business planning - sharing 1-, 3-, and 5-year goals," Rivers told the publication. "It's a big part of making a participative culture vs. a patriarchal culture."

The manner in which this information is presented to employees is also important, as many employees may not be able to dissect the simple raw numbers. Instead, Rivers suggests using percentages and bar graphs, to allow the workers to fully understand the company's financial picture.

Maintaining this type of transparency has become more important for CFOs in recent years, as competition for the top talent is increasing just as companies are making cuts to their budgets, according to the Robert Half Global Financial Employment Monitor.
 

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