When I talk to my friends and peers about Delivering Happiness and what we do, I am met with some very similar “I wish” responses. They go something like this:
Their responses usually reveal at least two important insights: 1) their company culture has room for improvement and 2) their leadership has some trouble getting on board with this “culture” thing.
Believe us; your company is not alone! All of our clients – from Century 21 to Airbnb have had to gain buy-in [agreement and alignment] from leadership as the first step in transforming the foundation of their culture. So how do you do it?
Well, we’ve compiled some surprising facts about company culture that you can share with colleagues, your company’s decision-makers, or anyone who is on the fence about the importance of a purposeful, positive organizational culture:
More People Will Stay – Increased Retention!
According to Gallup, disengaged employees are almost twice as likely as engaged employees to seek new jobs. And it’s not just the disengaged ones that you should worry about - 51% of U.S. employees say they are on the lookout for new jobs.
As a manager, you can assume that your seemingly unmotivated or bored employees are [most likely] looking for new jobs and at least half of your team is [most likely] looking too. Out of these likelihoods, we can confidently assume that somebody is ready to leave.
On the flip-side, when employees are happy and engaged at work, they are 59% less likely to leave. That means you can reduce your turnover by more than half! In a report by SHRM, the average-cost-per-hire in the U.S is $4,129. Losing just ten employees in a year can result in an estimated $41,000 loss!
Before their culture change, Canpa had a turnover rate of almost 30%. After a DH masterclass, their employees were able to live out their core values and felt more connected and purposeful in the work they were doing every day. In less than three years, their turnover rate fell to zero [read the full case study].
Less Burned Out, More Adaptable Workforce
Employee burnout is a real phenomenon in the workplace and is costing the U.S up to $190 billion in incremental health care costs. Understand this, engaged employees can still get burned out – but creating a culture based on positive psychology and the science of happiness can be your best tool in supporting a productive work-life balance.
In a Deloitte Well-being Survey of 1,000 full-time employees, 32% of them said they've consistently placed work commitments over personal ones, and 33% do not feel comfortable taking personal time off/vacation days.
A third of your workforce is choosing work over their personal lives and feel like they can’t use the PTO they are entitled to. It’s easy to imagine how trapped they must feel in their roles – like a hamster in a cage! This type of stress can manifest as changes in your body, mood, and behavior [anyone ever heard of anxiety?]. You only need to be around a stressed out team for a short while to realize how much it changes the environment of the workplace.
More Profits and Cost-Savings
Saving money and increasing your company’s bottom line is always a positive – especially if you’re not cutting corners [or people] to do it! Here are some wow-worthy stats on how much it can save and make for your organization:
Do you still need a stronger case for investing in your company culture?
You got it! Use this free worksheet to get the ball rolling: