Open communication and transparency are perhaps the two most valuable characteristics of a successful work environment. According to a recent report, firms with a high-trust environment, where employees can collaboratively and transparently share knowledge, gain stock returns two to three times higher than the industry average and have 50% lower turnover rates than competitors. An ineffective knowledge sharing culture, on the other hand, can cost large U.S. firms up to $47 million in lost productivity annually.
Why Withholding Information at Work Won’t Give You an Advantage
Research reveals that it may even backfire.
November 14, 2019, Updated November 26, 2019
Summary.
Many of us hide knowledge because we fear the potential costs of sharing it — like losing power or worrying we will be judged based on what we know. If those costs are personal, we may even withhold knowledge to protect ourselves and expect to gain, or maintain, an advantage by doing so. But whether or not we succeed has been questionable, up until recently. Researchers conducted three studies to explore whether and how knowledge hiding backfires. They found that those who engage in knowledge hiding are about 17 percent less likely to thrive at work, or experience learning and growth. On the contrary, knowledge hiding makes employees feel psychologically unsafe.
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