Why does company culture matter….

88% of workers say that company culture plays a key role in determining where they want to work.

69% of Gen. Z employees prefer a positive company culture over a bigger pay check.

86% of potential employees would not apply for a company with a bad reputation. 

A toxic culture is a major cause of turnover. Companies with poor cultures have a significantly higher probability of job turnover (48.4%) compared to those with high-culture organizations (13.9%).

A better culture can incentivize employees to stay, with 61% stating they would leave for a company with improved culture. Strong recognition programs, part of a good culture, are associated with 31% lower voluntary turnover. 

Companies with a strong positive culture can see a 4x increase in revenue growth.

A strong culture is vital for successful change and innovation. A large majority of executives (92%) see a strong culture as crucial for success, and 72% of employees agree it's instrumental for successful change initiatives. Organizations with robust cultures are 40% more likely to outperform peers in innovation and adaptability.

Companies with top-quartile cultures can see 60% higher returns to shareholders compared to median companies. Conversely, low engagement, often stemming from poor culture, can cost companies significantly in lost productivity. The impact of toxic culture is also evident in employee retention, with 44% of workers having quit due to such an environment.  

Employees connected to their organization's culture are 68% less likely to feel burned out. Toxic workplaces are a major contributor to burnout, with 66% of employees experiencing it regularly. Disengaged employees, often due to poor culture, also exhibit higher absenteeism and more errors.

Investing in company culture is not just a "soft" HR initiative; it is a business-critical strategy that drives profitability and long-term sustainability.