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Responsible Use of Workforce Data Required to Strengthen Employee Trust and Unlock Growth

DAVOS, Switzerland – Business leaders will need to implement responsible workforce data strategies if they are to build the employee trust that will help generate sustained revenue growth, according to a new report from Accenture (NYSE: ACN).

The Accenture Strategy report, “Decoding Organizational DNA,” is based on qualitative and quantitative research, including global surveys of 1,400 C-level executives and 10,000 workers across 13 industries.

Among the key findings: While more than six in 10 C-level executives (62 percent) said that their organizations are using new technologies to collect data on their people and their work to gain more actionable insights — from the quality of work and the way people collaborate to their safety and well-being — fewer than one-third (30 percent) are very confident that they are using the data responsibly.

In addition, more than half (52 percent) of workers think that the use of new sources of workforce data risks damaging trust, and 64 percent said that recent scandals over the misuse of data makes them concerned that their employee data might be at risk too. The good news is that 92 percent of workers are open to the collection of data on them and their work, but only if it improves their performance or well-being or provides other personal benefits. More than six in 10 workers (62 percent) would exchange their work-related data for more-customized compensation, rewards and benefits, and 61 percent would do so for more customized learning and development opportunities.

The report shows that, globally, US$3.1 trillion of future revenue growth is at stake for large companies, depending on how their workforce data strategies affect employee trust. Companies that put in place responsible data strategies could see revenue growth up to 12.5 percent higher than that of companies that fail to adopt responsible data strategies.