"The cost of decoding organizational DNA irresponsibly is high, as are the rewards of getting it right: the difference in growth rates between losing and earning employee trust through the use of workforce data is as much as 12.5 percent, or U.S. $3.1 trillion globally."
An Accenture survey of 1,400 global executives showed while nearly two-thirds of businesses are using new technologies (such as wearables, workplace applications, and online activity monitoring) to gather workforce information, only 30% say they are certain they are using it responsibly.
Other insights from the report include:
– 31% are holding back on investments in technologies due to employee concerns
– 49% say in the absence of legislation, they are charging forward without taking measures toward responsibility
– 70% of employees would give permission to employers to collect data if they were given more control over its use
The article offers a risk/reward analysis by industry and examples of businesses acting responsibly.