In the wake of the so-called “Great Resignation” triggered the Covid-19 pandemic, businesses across America are struggling more than ever to recruit and retain the talent they need to drive profit and progress. What many don’t realize is that while the pandemic may have knocked over the first domino, toxic workplace culture is often the true culprit that keeps them tumbling. So much so, that research indicates that the impact of a vacuum in corporate culture is ten times that of perceived under-compensation when it comes to an employee deciding to quit. 

When leaders think that they can pay off the problem without tapping into workplace culture from the employee perspective, it remains impossible to slam on the breaks of runaway turnover. So what is the key to fixing workplace culture and restoring employee retention once and for all? In these instances, a Corporate Culture Audit is the ultimate resource. Only when the holes in workplace culture are seen and understood can the work of repair begin.

Why Improving Retention Should Be High on Your Agenda

Not only can a company expect to have to fork out 200% of an employee’s salary to replace them after they head for the door, but the problem is more pervasive than that. Recent research reveals that employees jumping ship often convince their co-workers to go with them. In fact, so rife is this issue that 38% of employees say they have encountered a coworker who encouraged them to leave their current positions with them. Allowing workplace culture to erode is a sure-fire route to a domino-effect that escalates exponentially. 

Going beyond the core issue, it’s also worth considering the fact that poor retention can be only one symptom of a far larger problem. When workplace culture has degraded, productivity is likely to plummet, customer care collapse, and misconduct issues ranging from malingering to employee theft and even white collar crime become far more likely to occur.

What Investing in Workplace Culture Looks Like

If retention issues sit among a cluster of warning signs that workplace culture has gone awry, what is the solution? Job satisfaction is key, but boosting this metric is not as simple as flipping a light switch—it calls for assessing workplace culture holistically. Factors such as strength of communication, leadership styles, achievement recognition, development opportunities, and supportive environment-creation all play their part. 

Equally, rooting out negative behaviors and habits is essential if they are to be tackled decisively. Re-evaluating company values and improving development programs will only go so far if workplace bullying and time theft is commonplace. Correcting workplace culture cannot be a band-aid solution—it needs to be approached accurately and comprehensively with no stone left unturned.

Building a Road Map to Stronger Workplace Culture

According to Harvard Business Review, satisfied employees reward their employers with 31% higher productivity, 37% higher engagement, and no less than triple the creativity. If you want your team to excel and innovate, the process begins with understanding your current workplace culture standing. 

To aid in this process, Lauth Investigations is proud to serve businesses across the country with comprehensive Corporate Culture Audits. With our assistance, a clear picture of the state of play can be realized and a course can be set towards the kind of high-caliber corporate culture that will enhance employee retention, increase performance, and grow your bottom line. Are your ready to get started? Discover more about the process or reach out to our dedicated corporate investigations team to discuss your needs.