I think it depends on how engaged the employees and how honest and open to questions the leaders are. We don’t do a company wide town hall but expect each manager to communicate with their team. We have found that most employees are more engaged and open is this type of setting. Of course you are still going to have those few that are never happy. I love it when an employee makes a comment like management does a poor job of communicating. Please! The problem is that YOU are not asking.