My organisation does this half yearly. The aggregate results are available to all and the top 3 and bottom 3 items are emphasized.
The CEO or immediate report runs a monthly floor brief that is as open and honest as it is possible for a person in such a position to be. We have an online facility to ask questions and vote on the questions we want answered. The online facility allows for anonymous questions though I choose not to be anonymous.
Most of the questions will be answered in the closing 10 minutes of the brief or earlier if they preempt what was going to be said. Some questions will be answered in a follow-up email, sometimes over a cup of coffee if the senior exec is in a particular office. It's an approach to staff communication I found gells with my personal values. It definitely influences how I perceive my place of work.