Everybody knows that employees could leave their jobs for a better offer at any time, but it’s assumed that offer better be good, instead of escaping your organization for a paltry raise. That only happens when employee loyalty is down – and weak culture is to blame, says a report by employee experience platform TINYpulse. One glaring finding from their new report was that 43% of workers might leave their job for a 10% raise. (The previous year TINYpulse asked that question, only 25% of workers said they’d consider leaving).
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The 2019 Employee Engagement Report polled 25,000 employees across 20 industries spread out across North America, Europe, Asia, and Australia.
But it wasn’t just the 10% raise that factored into employees leaving. There were other intangibles, like workplace culture, that were important parts of the equation of weakening loyalty.
Work culture really matters
One employee said that besides the 10% raise, “It would depend; if the other company had a strong culture and good benefits, such as work from home, casual Fridays, or a more flexible schedule, I would leave.” Another employee cited must-haves such as “sense of team, and quality of work/life balance” to be more than a 10% raise, another said they had taken a $10k cut in pay to work at a place that provided the the intangible most important to them: “environment and culture.”
In short, culture, environment, and balance matter more than ever, and employees are willing to leave jobs for a very small bump in pay – or even take a pay cut – to find it.
Creating or stimulating a company culture isn’t just a matter of throwing together some free snacks and a ping-pong table – those are perks, not culture. Culture isn’t what you do, but how you do it and live your mission eight hours a day.
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