Does a positive work culture affect a company’s bottom line? Research conducted at the IBM Smarter Workforce Institute and the Globoforce WorkHuman Research Institute shows a connection.
Researchers set out on a twofold mission—to identify the ideal employee experience and measure its impact on business. They surveyed 23,000 employees across 45 countries, and developed a five-facet Employee Experience Index, which measures belonging, purpose, achievement, happiness, and vigor. Results of their study, which are reported in Workforce magazine, found that high scores in each category predicted higher retention rates, work performance, and discretionary effort—all which can affect a company’s bottom line. The study also identified providing work-life balance, recognizing employee achievements, and building organizational trust as key practices to improve employee work experience.
Read the full study results here.