Peers keep 51% employees from exiting- Report
About half (51%) of employees, regardless of their job title or role, say their peers are the No.1 group that inspires them to stay with a company, according to a new report released by a digitally native technology services company Globant.
The study also found that two out of three employees (62%) wish they knew their coworkers better, and four out of five (83%) believe that knowing their coworkers better would make them a more engaged team member.
These key findings from Globant's "Powering a People-First Culture" report highlight the direct link between close personal connections and creating a strong organizational culture. Based on a survey of 1,000 U.S. employees across a range of industries, the study points to an urgent need for organizations to increase their focus on enhancing the employee experience or risk losing top talent.
"Organizations are continually facing new customer expectations, new kinds of competitors, and new demands from their workforces. To be successful in business and keep their best people, organizations need to digitally transform, but for that to work, they need to undergo a cultural transformation first," said Guibert Englebienne, Co-founder and CTO, Globant.
Difficulty hiring the best talent and high employee turnover remain significant challenges with 90% of respondents report hiring is a problem at their companies, and nearly the same number (87%) say employee attrition is an issue. For this reason, many organizations are increasingly investing in HR technology. However, "the problem is that most technologies focus almost exclusively on systematizing HR processes, not creating a meaningful employee experience as a way of enhancing company culture," said Englebienne.
Employees want a closer connection with their peers, and this is a major pain point for organizations that don't have the right technology required to meet this need, especially global enterprises that have people spread across multiple locations.
"Many organizations believe their culture is their true differentiator, and are increasingly realizing the impact of their vision, values, and employee relationships on their business. What we have experienced at Globant, that is still a significant opportunity for many companies, is the role technology can play in bringing the envisioned culture to life," said Sanja Licina, Ph.D, Future of Organizations leader at Globant.
She also noted that the culture platform, StarMeUp OS, helps create strong relationships across the company no matter the tenure, role or geography that someone is in. In addition to bringing employees closer together, the deep insights help leaders uncover hidden talent and have a better view into organizational dynamics to know how to most effectively keep shaping their culture.
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