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Staff 'must be kept in the loop over strategy'
A leading UK businessman has underlined the need for companies to keep staff informed over their corporate strategies and direction.
Speaking to the Telegraph, John Timpson, chairman of high-street cobbler and key-cutter Timpson, said many firms are overly paranoid about their business secrets from being leaked to competitors.
As a result, they make the mistake of not providing their employees with access to important information, which can leave workers feeling as though they are not in possession of the full facts.
Instead, the business leader said it is better to tell their staff and partners everything they need to know, while relying on the strength of their strategy to maintain their advantage.
Mr Timpson said: "Occasionally one of our leavers passes on a useful tip to a competitor, but it happens so rarely I am happy to ... continue to treat our colleagues with respect and tell them everything."
Earlier this year, a report from the Chartered Institute of Personnel and Development suggested that employee engagement has become particularly vital given workers' current worries over job security.
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