Building a Magnetic Culture 

THE LATEST COMPANY CULTURE & EMPLOYEE RETENTION TRENDS 

Insight and action to help you create a workplace that attracts and keeps the best talent. 

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EMPLOYEE ENGAGEMENT TREND

The 'Big Stay' is Here

Employee quit rates have been declining since The Great Resignation—but so has employee favorability. A strong retention strategy will help you engage employees in the short term and retain them in the long term. 

 

In This Section

Now is Not the Time to Find a New Job, Employees Say 

Quit Rates are Declining – But So Is Engagement

Employees Would Still Leave for a Better Opportunity 

Employees Will Tell You They’re Leaving 

A Real HR Story: ODW Logistics Reduces Turnover by 36% 

How to Turn This Insight Into Action 

 

 
 

Check out the Data

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Now is Not the Time to Find a New Job, Employees Say 

When quit rates were at their peak, around November 2021 to April 2022, we saw a peak agreement that, “Now is a good time to find a new job.”  When employees are not confident in the job market, they are more likely to stay at their current organization.

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Quit Rates are Declining – But So Is Engagement

In 2023, employee engagement declined for the first time in almost 10 years according to Quantum Workplace data. The proportion of employees who were highly engaged dropped to 76.1%, just below the engagement levels seen in 2020. This decline reflects broader challenges to the workplace in a post-pandemic landscape including an emphasis on efficiency and productivity, a push to return to the office, a softening labor market, and inflation that outpaces wage growth. 

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But They Would Still Leave for a Better Opportunity 

When asked what would entice them to leave, employees said the top three factors were more pay, a promotion or career development, and better benefits. 

 

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Employees Will Tell You They’re Leaving

Employees will likely tell you when they’re a retention risk. 62% of employees discussed their decision to leave the organization with a manager or coworker prior to leaving.  

And if they don’t outright tell you, there are some signals you can look for.  

1 in 3 employees leave due to lack of fair pay.

Employees feel they’re not paid fairly.

Only 39% of employees were recognized for their contributions in the three months prior to their last job departure.

Employees don’t feel recognized for their work.

Only 25% of employees had a growth discussion with someone in the organization in the 3 months leading up to their last job departure.

Employees don’t feel they have growth opportunities.

 

A Real HR Story

“Our Q1 turnover rate in 2023 after a full survey and a pulse survey was 14.33%. That is unbelievably low, specifically for our industry in warehousing and transportation.”

Jill Spohn
Leadership Development Manager
at ODW Logistics

EMPLOYEE ENGAGEMENT TREND

You Can't Get by With Mediocre Culture

An engaging culture is critical to business success. Your culture is what keeps top talent from walking out the door and what makes candidates strive to work for you. 

 

In This Section

How Employees Define Culture

Culture Impacts Everything, Every Day

Culture Isn't in the Office

Engagement Impacts Perceptions of Culture

Ideal Cultures are Collaborative, Flexible, and Inclusive

Everyone is Responsible for Culture

A Real HR Story: Hudl Built a Culture of Listening and Feedback

How to Turn This Insight Into Action 

 

View the Previous Trend: The 'Big Stay' is Here

 

Check out the Data

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How Employees Define Culture 

Our various studies show that employees see culture as how work gets done. It’s the day-to-day attitudes, actions, and behaviors of an organization. 

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Culture
Impacts Everything, Every Day
 

 

According to employees, culture is a day-by-day, moment-by-moment experience. Two-thirds of employees say culture positively impacts their work and behavior every day.  66-percent-of-employees_magnetism_trends-report_2

 

 

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Culture Isn't in the Office

 

Employees say that they feel culture the strongest through the company’s mission, how they’re recognized, and how the organization manages performance. Culture is less about the physical workspace.

 

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Engagement Impacts Perceptions of Culture 

Engaged employees and disengaged employees have different views on their organizational culture. Engaged employees are more likely to say they have a positive culture that impacts their work and behaviors, and less likely to leave for a better workplace culture. Disengaged employees are 2.6X more likely to leave their company for a better culture.

 

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Ideal Cultures are Collaborative, Flexible, and Inclusive 

When asked to describe an ideal culture, highly engaged and not highly engaged employees had similar answers. Employees describe their ideal culture as inclusive, fun, collaborative, friendly, flexible, and diverse. 

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Everyone is Responsible for Culture

Employees say everyone plays a role in creating a shaping culture. But it starts from the top, with 83% of employees saying leadership plays a leading role. 

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A Real HR Story

“We have two organizational values that directly align to our Quantum Workplace initiatives: ‘We Listen’ and ‘We’re Respectfully Blunt.’ These values are at the core of nearly everything we do, and we strongly believe that everyone has a role to play, from both the top down and bottom up.”

Janell Hager
Senior Director of Global Talent Management & Organizational Development
at Hudl

More Employee Engagement Trends

Click on another section to learn more about what's happening in the workplace — and what you can do about it. 

Employee Experience

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● Employees Expect Post-Survey Action

● Engagement is the Key to Strong Retention and Performance

Performance & Impact

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● Employees Want to Drive Organizational Success

● Managers Matter - But They Don’t Feel Supported

Emerging Intelligence

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● Organizations Still Aren’t Ready for AI

● Change Isn’t the Problem - How You Manage It Is

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