CopywriterSee All Posts
It used to be that culture was a task lumped into HR’s basket. A popular buzzword on career pages and a hot topic in job interviews, but outside of that, how seriously were businesses really investing in culture beyond Friday night drinks and a foosball table?
Flash forward to 2019, and almost 60% of young Americans value the quality of their work lives more than the financial payoff of their job. Makes sense considering that in the US, 89% of employers think that staff quit their jobs for more money, when in reality it’s the main driver for only 12% of people.
What employees want more than bigger bucks is a supportive, engaging environment to work in every day. One in which people can collaborate effortlessly with their colleagues, ideas flow freely, and everyone’s voice can be heard in a business no matter what their job title is. When it comes to building these work environments, collaborative work tools have a crucial part to play.
Take the recent findings from a comprehensive study into the Total Economic Impact of Workplace by Facebook, conducted by Forrester Consulting. The study involved over 200 companies that have used Workplace for a number of years. As a direct result of using Workplace to connect all employees on one platform, and enable bottom-up communication and cross-team collaboration, these companies achieved:
On average, these companies also reported a 3.9 x return on investment in Workplace over a 3 year period and $13.1 million in quantified benefits over 3 years. These tangible improvements across a number of business areas make a strong case for using collaborative, intuitive tools to build a more connected workforce.
If we dig a little deeper into that first statistic on employee retention - it’s estimated that employee turnover costs businesses in the US billions of dollars every year. The stats tell us that when employees quit their jobs, 75% do so because of their boss, not because of the job itself. It’s not possible - or fair - for the success of a company’s culture to rest on the shoulders of a handful of bosses. But having employees plugged into one connected platform where they can have conversations with other colleagues in the business makes employees part of a larger support network. Feeling connected and engaged with other colleagues is a valuable lifeline that may make employees less likely to walk away from a good job because of a bad boss.
The additional benefits of creating a more connected workforce are that it creates more opportunities for peer feedback and employee recognition, and allows people to have more meaningful conversations at work. All positive, culture-building activities.
Much to the HR team’s relief, bringing everyone onto the same page with collaborative work tools makes every employee a custodian of company culture. Forget the token foosball table, building closer communities at work is the way to foster better culture.
At Enablo, we are constantly exploring ways to apply modern digital solutions to drive essential breakthroughs in organisational culture and business value. We believe that the future of work requires networking, mobility, and collaboration. This is why we have partnered with Workplace by Facebook.
Stay in the loop on all things Enablo and Workplace by Facebook by signing up to our newsletter.