It's the start of another year and with it comes a plethora of new opportunities to transform your organization. The last couple of years have seen a transformational shift in the workforce, with the COVID-19 pandemic driving many companies into new conditions with remote or hybrid work arrangements for their teams. While the amount of remote workers has decreased since the pandemic’s peak, one study estimates that 20-25% of workers could still work from home at least three days each week [1] With a changing workforce, how can leaders ensure their teams can thrive and achieve organizational goals in 2022? What is the secret to making sure your individual contributors are aligned with your mission and motivated to perform? The short answer is culture. Culture is often a far too nebulous term that people interpret as a workplace with free snacks or office happy hours. Culture has several key dimensions we are excited to dig into, but to kick off the year let’s start with 30 stats that can get your gears turning on how you can prioritize culture in 2022.
Talent Attraction—How culture impacts finding the best talent [2]
- 46% OF JOB SEEKERS STATE CULTURE AS VERY IMPORTANT
- 47% OF ACTIVE JOB SEEKERS SAY CULTURE IS THEIR BIGGEST MOTIVATOR
- 35% OF U.S. WORKERS SAY THEY WOULD PASS ON THE PERFECT JOB IF THEY FELT THE COMPANY CULTURE WAS OFF
Talent Retention— Culture impacts keeping your best people [2]
- EMPLOYEES ARE 26% MORE LIKELY TO LEAVE THEIR JOBS IF THEY FEEL A LACK OF RESPECT
- EMPLOYEES WHO DON’T LIKE THEIR COMPANY CULTURE ARE 24% MORE LIKELY TO LEAVE
- 56% OF MILLENNIALS BELIEVE THAT EMPLOYEES SHOULD STAY WITH THEIR COMPANY 20+ YEARS, CONTRARY TO POPULAR BELIEF
If you thought it was all about pay—think again [3]
- 32% WOULD TAKE A 10% PAY CUT FOR A JOB WHOSE CULTURE AND WORK IS MORE ALIGNED WITH THEM
- 58% OF EMPLOYEES WOULD MISS OUT ON A RAISE TO STAY WITH A GREAT BOSS
- 60% OF THE TALENT POOL CARE MORE ABOUT JOB QUALITY THAN SALARY
Flexible work in a Post-COVID world [4]
- 76% OF EMPLOYEES REPORT SEEKING FLEX WORK OPPORTUNITIES TO CREATE WORK LIFE BALANCE
- 36% OF EMPLOYEES WOULD CONSIDER LEAVING THEIR COMPANY IF THEY HAVE NO OPTION TO WORK REMOTELY
- 28% OF WORKERS WOULD TAKE A PAYCUT TO HAVE WORK FROM HOME OPTIONS
- IT’S NOT JUST MILLENNIALS—65% OF EMPLOYEES 55 YEARS+ ARE MORE LIKELY TO TAKE AN OFFER IF THEY CAN TELECOMMUTE
- 65% OF EMPLOYEES THINK THEY WOULD BE MORE PRODUCTIVE AT HOME
- 77% OF EMPLOYEES SAY FLEXIBLE WORK IMPROVES THEIR OVERALL PHYSICAL AND MENTAL HEALTH
- 86% OF EMPLOYEES FIND FLEXIBLE WORK LESS STRESSFUL
- 76% WOULD BE MORE LOYAL TO THEIR COMPANY IF THEY HAD FLEXIBLE WORK OPTIONS
- 52% OF HIRING MANAGERS SAID THEY HAD LESS DIFFICULTY HIRING WHEN THEY OFFERED REMOTE WORK
Meaningful work and professional development—cornerstones of healthy culture [5]
- THOSE WHO FEEL THEIR COMPANY HAS PURPOSE BEYOND THE BOTTOM LINE ARE 27% MORE LIKELY TO STAY
- ORGANIZATIONS THAT HAVE A PURPOSE BEYOND PROFITS MOTIVATE THEIR PEOPLE TO STAY EVEN IF THEY GOT A 10% RAISE TO LEAVE
- 38% OF U.S. EMPLOYEES WANT A JOB THAT IS ALIGNED WITH THEIR PERSONAL INTERESTS AND PASSIONS
- 42% OF MILLENNIALS THINK DEVELOPMENT OPPORTUNITIES ARE THE MOST IMPORTANT FACTOR WHEN CONSIDERING A JOB
- EMPLOYEES WHO DON’T FEEL SUPPORTED IN THEIR PROFESSIONAL DEVELOPMENT ARE THREE TIMES MORE LIKELY TO LOOK FOR NEW WORK
- 43% OF EMPLOYEES THAT LEFT COMPANIES DID SO BECAUSE THEIR DEVELOPMENT WAS CONSTRAINED
- 67% OF MILLENNIALS WOULD LEAVE THEIR JOB IF THEY LACKED DEVELOPMENT OPPORTUNITIES
- 94% OF EMPLOYEES WOULD STAY IN THEIR CURRENT ROLE LONGER IF THEY FELT SUPPORTED IN THEIR CAREER
As a leader—you have more impact than you might think. [6]
- THOSE WHO RATE THEIR MANAGER POORLY ARE 4 TIMES MORE LIKELY TO PURSUE OTHER JOBS
- EMPLOYEES ARE 23% MORE LIKELY TO STAY AT THE COMPANY IF THEY FEEL THEIR MANAGER CLEARLY COMMUNICATES THEIR ROLE AND RESPONSIBILITIES
- ARE YOUR CANDIDATES CULTURAL FITS? 91% OF US MANAGERS SAY CULTURAL ALIGNMENT ENDS UP BEING MORE IMPORTANT THAN JOB SKILLS
- 61% OF EMPLOYEES DIRECTLY CONNECT THEIR SATISFACTION IN THEIR ROLE WITH TRUST IN THEIR LEADERSHIP
As you look ahead to 2022, let these numbers sink in. Your organizational culture has a tremendous impact on multiple facets of your company. Have you faced issues with hiring or keeping your best people? Culture could be your answer. Are your employees asking about flexible work options and remote work? Your response could have a serious impact on their perception of the company. Is your leadership, from the top brass to middle managers, equipped and ready to develop and lead your teams? Have you created a culture where talented people are aligned with your mission? This year, as you strategize about how to accomplish your goals and grow your bottom line, consider analyzing the various dimensions of a healthy culture, and making them a priority this year. If you have any questions about culture, leadership, or your 2022 goals, we would love to learn more about you and your organization. Simply follow this link to connect!
