When your people thrive, so does your business. And the foundation for that success is designing a workplace that brings out the best in people, as individuals and teams. In other words, creating a great culture. How do you do it?
Let’s dig into the numbers.
Employee Retention: How Do Culture & Connection Play a Role?
What Are Employees Looking for in Their Next Job?
What role does workplace experience play in keeping current employees engaged, productive—and with you long term? A lot.
Gallup surveyed more than 13,000 U.S. employees in 2022 to ask what was most important to them when deciding whether to accept a job offered from a new employer. The data reveled something interesting: yes, compensation matters, but work-life balance came out on top of their paychecks—with job security and “doing what I do best” coming in very closely behind.
5 Most Common Reasons for Leaving a Job in 2022
When asked what would make them leave a job, employees went back to life-work balance, but ranked engagement and culture on top. Engaged employees consider themselves to be connected to the mission, vision, purpose, and values of a company in an authentic and real way. Culture programs can underline this from a leadership point of view and filter it down to every employee.
How Many Employees are Open to Leaving the Company?
Is your team struggling with turnover and attrition? Nearly half of employees are ready to run from their current employer to a new one—and nearly one-third say now is a good time to find a new job.
Does Investing in Employees Pay Off?
Short answer, yes it can! Things like upskilling, wellness programs, and reviewing your benefits packages can make an impact on both retention and productivity. It can also help build a strong, vibrant culture of connection.
Now’s a great time to review your company culture and it’s impact on how your employees succeed day to day, but also consider how the environment in your workplace may be impacting the bottom line.
If you could use a hand with finding your company’s connection and culture north star, check out Compass, Insight Global’s culture consulting arm. We can help with interactive workshop facilitation, team experiences and customized change solutions to help leaders take better care of their people and improve business results.
Sources: The HR Digest, Gallup’s State of the Global Workplace 2023 Report