Report: Culture drives employee loyalty, satisfaction and retention

Nearly 60% of respondents say they’d jump ship to join a competing company with a workplace driven by trust, respect, fairness and integrity.

All hail the coronation of culture as our new workplace sovereign.

Speakap, an employee communication technology provider, conducted a survey to determine just how important company culture has become to employees. The findings support the notion that culture—defined in this case as the “sum of a company’s values, traditions, beliefs, interactions, behaviors and attitudes”—has risen to the very top of the worker perk pile.

For some respondents, culture even trumps cash. Many also expressed a willingness to work extra hours to join a company with a primo culture. The survey says:

Fifty-eight percent of employees said they’d take a job at a competing company if the new company had a better culture than their current one.

It goes on to say:

Forty-eight percent of respondents would be willing to work a 60-hour week in exchange for better office culture.

Of course, every company wants to create a compelling culture that attracts and retains great employees, but how do you do that? Speakap says:

To build a strong culture, emphasize respect, fairness, trust and integrity over transactional engagement.

To keep employees engaged for the long haul, prioritize substantive perks such as work/life balance, positive recognition, and schedule flexibility, the report says. However, don’t underestimate the importance of “job security,” which 74% of U.S. respondents list as the most important component of “job satisfaction.”

Nearly two-thirds (64%) of respondents also note that having “good relationships with supervisors” holds the biggest sway over job satisfaction, and 60% say the same about “good relationships with colleagues.”

Employers beware: Culture transformation requires much more than surface-level changes, events or adjustments. As the report says:

Change can only happen when people are open to listening to feedback and willing to acknowledge that the current practices and approaches may not be as effective as they believed. To put it in the words of former Girl Scout CEO and Presidential Medal of Freedom honoree Frances Hesselbein: ‘Culture does not change because we desire to change it. Culture changes when the organization is transformed— [and] the culture reflects the realities of people working together every day.

Read the rest of Speakap’s report for more ideas on how to refine, audit or improve your company culture.

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