What is the secret recipe for a successful organization? Why do some employers get maximum performance from their employees while others struggle to engage and retain top talent? Recent research points towards an organization’s culture as the critical difference.
A recent SHRM study found that about one in four employees say they dread going to work every day, and one in five have left a job in the last five years due to the organization’s culture. The research also estimates that turnover due to cultural issues cost organizations over $200 billion, also over the last five years.
The global consulting firm Willis Towers Watson conducted a recent study that reveals a definitive link between the employee experience and the employer’s successful financial performance. Businesses that demonstrated a strong employee experience consistently out-performed those that did not in key areas: revenue generation, profitability, organizational growth, and employee retention.
How do these progressive-minded employers achieve this success? The answer is reflected in the mind-set of employees working in organizations generally recognized as some of the best places to work. For one, these workers are genuinely inspired by the organization’s mission and purpose, demonstrated by management that will “walk the walk,” as opposed to just “talk the talk.” They have a strong recognition of their ability to achieve their potential and reach their career aspirations in a positive workplace culture. They are also motivated to succeed due to the organization’s sincere commitment to customer focus, plus showing innovation & the agility to meet the demands of the marketplace. Above all else, employees in these places have a deep sense of trust in senior leadership, because those at the top set the tone when it comes to crafting workplace culture, both good and bad.
The organizations that embrace these key elements that create and shape a positive work environment are the ones that have found the winning formula for a high-performance workplace culture both now and for many years to come.