US-based job portal Glassdooor.com is unique in that it allows former employees to leave anonymous reviews of workplaces and CEO’s. This rating system has become so popular that Glassdoor head of international Diarmuid Russell claims they’re used to influence a company’s financial decisions.
Russell recently told the Australian Financial Review:
"If you're talking about a merger and acquisition situation where you're doing your due diligence, [Glassdoor] gives you a sense of what might be being felt a level down from the people you're actually meeting when you go into a company."
The job portal’s influence was illustrated last year when hacking group DCleaks leaked emails revealing top companies like Salesforce, ServiceNow and Bank of America all using Glassdoor data to assess company performance and evaluate acquisition targets.
Mr Russell said Glassdoor was often used to assess CEO's performance, including how they look "after the honeymoon period".
"It gives you insights that you can't necessarily get – in particular I think it gives you a sense of how good a job the management team is doing and whether the company has a consistent culture or consistent value," he said.
Glassdoor is the second largest job portal in the US, but it’s influence in Australia is relatively small with only a few native companies being reviewed.
It will be interesting to see if the influence of Glassdoor’s data penetrates the Australian market.
Read Full Story Here