18 Statistics About Company Culture You Can’t Afford To Ignore
Whether it’s employee engagement, happiness, productivity, attrition, hiring or any other important measure of a company’s success, the commonality between them is creating an amazing company culture.
But how do you create an amazing company culture? What if you let your culture slip as you grow. What if you sacrifice happy employees for short term revenue growth? What if you treat HR as just another process and forget about your people?
Put simply, the consequences can be fatal. You already know that though, right? You don’t need me to tell you that. You love your employees and want to make them happy and more engaged.
On that note, let’s look at 17 alarming statistics about company culture and everything it encompasses.
- Companies with engaged employees outperform those without by up to 202%
- 64% of all employees do not feel they have a strong work culture
- 49% of all employees are not satisfied with their direct supervisor
- More than 1 in 4 employees do not have the tools to be successful in their jobs
- 87% of the global workforce is disengaged
- Only 21% of employees feel strongly valued at work
- Peers and camaraderie are the #1 reason employees go the extra mile – not money
- Companies with engaged employees vs competitors with low engagement levels enjoy 2.5x more revenue growth
- Highly engaged employees are 87% less likely to leave the company they work for than their counterparts
- $11 billion is lost annually due to employee turnover
- 75% of people voluntarily leaving jobs don’t quit their jobs; they quit their bosses
- * Companies who implement regular employee feedback have turnover rates that are 14.9% lower than for employees who receive no feedback
- * 90% of leaders think an engagement strategy has an impact on business success but less than 25% of them have a strategy
- * Unhappy employees take fifteen more sick days each year than the average worker
- * Happy workers are 12% more productive than the average worker and unhappy workers are 10% less productive
- * Job turnover at an organization with a high focus on company culture is 13%, but 48% in companies with a low focus
- * Increasing employee engagement investments by 10% can increase profits by $2,400 per employee, per year
I’ve put stars next to statistics 12 to 17 because they are the ones we’re extremely passionate about. In fact, it’s why we’re building StackHands (if you’re a leader in a company with 50+ employees and multiple offices, you should request an invite).
So what can you do with the statistics above? Well how about we use the data presented to create a brief summary of key take away points that companies with the best cultures follow and implement?
- Listen to your employees and give them a way to provide honest (and anonymous) feedback
- Create and implement an engagement strategy, even if it’s lightweight
- Ask your employees how happy they are on a regular basis, because happy employees are 12% more productive
- Let everyone know company culture is a focus and take steps to make it so – just doing this can reduce attrition from 48% to 13%
- Find and train or replace your bad managers – remember, people mainly quit their managers not their jobs
- Make sure your employees have the tools they need to do their best work
Want to be a HR hero and make your employees happy?
StackHands helps you collect ideas and anonymous feedback from your employees to make your company a better place to work. Learn more.
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