Crunching the numbers

Houston workers remain both wary and optimistic of data collection in the workplace, according to a report

According to a new report from Accenture, Houston employees want clarity and control when it comes to data collection and use. Getty Images

Chances are good your employer has a lot of data about you stored away in the company's cloud. The real question is whether or not you trust them with it. According to a new study from Accenture, the jury is still out for Houston employees when it comes to data collection.

Data misuse scandals have stirred the pot quite a bit, and 68 percent of Houston workers surveyed said those events have raised their concern about their employer's use of their data. Similarly, 64 percent of Houstonians are worried their data is vulnerable to a cyber attack. Just over half of the survey respondents are worried about their employer using technology and data to spy on them.

Despite this skepticism, 81 percent of Houston respondents said they would benefit and improve from data-based performance feedback.

"Organizations are sitting on a wealth of data that, if harnessed, can help them unlock the vast potential of their people and business," says Diana McKenzie, chief information officer of California-based Workday Inc., in the report. "A key element is establishing a track record of trust built on ethical, responsible behavior as part of an organization's people strategy. Organizations that have invested in laying this critical foundation have the opportunity to tap into this data, in turn accelerating innovation and creating a workplace that benefits all people."

The general consensus of the study, which surveyed 500 Houston workers and 10,000 workers across the globe, is that employees want control and clarity from their employers when it comes to data collection and use. Of those surveyed in Houston, 66 percent say they are open to data collection if their employer co-created the policies with feedback from their employees. Meanwhile, over 70 percent of employers say they either already do that or plan to co-create technology policies with their workforce.

Here are some key findings from the report.

  • 56 percent of Houston workers are aware that their employer is using workplace apps — like email, instant messaging tools, calendars, etc. — to collect data.
  • 66 percent of survey respondents in Houston are fine with their data being collected as long as they receive personal benefits from the data collection use.
  • 65 percent of Houston workers want to own their own data to take it with them if and when they leave the company. Meanwhile, according to the national report, 58 percent of employers are open to that idea.
  • 65 percent of Houston employees are open to the practice of data collection — as long as C-level executives and the board monitor and are held accountable for responsible use of new technologies and sources of workplace data.
  • 60 percent of Houston workers would consider leaving the company if they learned their superiors didn't responsibly use new technologies and sources of workplace data.

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Building Houston

 
 

These Rice University students are going for extra credit in the name of sustainability. Photo via Rice.edu

A group of Rice University students have added a new extracurricular to their transcript.

Launched last fall, Rice New Energy Fund, or RNEF, is the country's first student-managed energy transition investment fund, according to a news release from Rice. The fund's goal is to generate returns for scholarships while advancing decarbonization technology and providing education and diversity in investment.

“We needed more funds and a more focused strategy to be competitive,” Shikhar Verma , class of ’24 and founder of the fund, says in the release. “Everyone in Houston is talking about the energy transition, but not many people know what that actually entails. We want students to learn how to be responsible financiers and lead this transition.”

To join, students are required to participate in the Rice Undergraduate Finance Club’s training program and undergraduate investment fund, since the RNEF operates as a part of the club. Anyone can join the program, no matter their major.

“Our team’s diverse academic background allows us to explore investments more holistically,” Verma says. “For instance, we have engineers who can evaluate technologies and scaling risk and pre-law students to appraise the regulatory and policy environment.”

Verma says he and his fellow team members have tapped into a group of mentors, advisers and donors for the fund, including former Rice Board of Trustees chair Bobby Tudor as well as renowned executives Steve Pattyn and Stephen Trauber, per the release.

The RNEF has raised $200,000 in donations, and plans to start investing in the fall with a hope to create a portfolio of 200 new energy-related companies.

“We needed more funds and a more focused strategy to be competitive,” Verma said. “Everyone in Houston is talking about the energy transition, but not many people know what that actually entails. We want students to learn how to be responsible financiers and lead this transition.”

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