Workplace culture is not an additive to a successful team, rather it is the foundation for which goals are reached, employees are retained and organizations gain momentum. In a time when the Great Resignation is shaking up businesses, a healthy corporate culture can act as the glue, holding your team together and driving your success. While this positive workplace morale can cause your team to thrive, a toxic culture can destroy it.
Top Factors that Shape Culture
Since the start of the Great Resignation, employers have tried to find ways to keep workers from seeking opportunities elsewhere. From prioritizing work-life balance to offering flexible schedules, the race to retain talent has been felt across the country in all job sectors. While leaders search for the ‘why’ behind the mass exodus of workers, research shows that corporate culture is a strong indicator of employee attrition. In fact, a toxic workplace culture is 10 times more important than compensation in predicting turnover.
Supportive Leaders: As the workplace adage goes, ‘it starts at the top.’ Leaders matter, and bad bosses are one of the top elements in spoiling work culture. Research shows that employees leave managers, and 84% of workers say poorly trained leaders create unnecessary work and stress. A GoodHire survey of 3,000 full-time American workers revealed that 82% of respondents would consider quitting their job because of a bad manager.
Respected Employees: One of the top predictors in determining an organization’s culture is whether or not employees feel respected. Regardless of employee perks or added benefits, studies show that employees want to feel valued and heard. In fact, a recent Gartner survey found that the pandemic shifted the way employees viewed their purpose and value at work, with 65% saying the pandemic made them rethink the place a job should have in their life. Essentially, employees want to feel a sense of value at work and be respected for the role they play.
Core Values: Studies indicate that a lack of leadership living out core values does not greatly impact employee retention. However, when management does in fact embody the organization’s core values, the workplace culture score jumps. This means that when bosses exemplify core values, it matters and employees take notice. An organization’s values set the tone for the culture, and the MIT Sloan Management Review study found that 72% of companies correlate their workplace culture with their core values. While listing core values on a website is a great step, leadership must truly explain, model and coach employees on living out core values for them to effectively impact workplace culture.
In a time when employees are changing jobs more than ever, workplace culture matters and has the power to make or break your team. Understanding the top elements that contribute to culture can help leaders shift priorities and make impactful decisions to better retain employees. With an emphasis on supportive leadership, ensuring employees are respected and heard and living out core values, you can boost your workplace culture. At Work Shield, we offer the solution to cultivate open, positive cultures of integrity and trust.