Research study finds engagement and sense of purpose significantly impact employee retention.
HERNDON, Va., March 14, 2024 /PRNewswire-PRWeb/ -- Leading research and experience management firm Sogolytics has released an original study examining key factors impacting employee engagement and retention, two major issues impacting businesses today.
As current economic conditions are forcing many organizations to reevaluate their budgets and financial incentive programs, understanding these factors was the key driver behind this study. Few businesses can afford to compete on salary alone, but the good news behind the research findings is that salary is not the only variable driving employees' decisions whether to stay or to go.
With the understanding that employee engagement data varies significantly by employer and industry, this cross-sectional study collected data from over 1,000 Americans in January 2024, with an age-range distribution balanced to reflect the most recent (2020) US Census.
A few key highlights:
- 28% of employees report a sense of disengagement
- Employees who find a purpose in their work are 37% more engaged
- Employees who find a purpose in their work are 74% more likely to stay loyal to their employer
- 39% of 'Extremely engaged' employees are 'Very likely' to leave within six months
Sogolytics VP of Success Melissa Krut, who has highlighted key findings in recent webinars and event presentations, notes that "People are shocked when they see statistics like these. Can you imagine losing nearly 40% of your most engaged employees over the next six months? There's a clear call to action here."
To read the full report, click here. To learn more about how Sogolytics works to help organizations to collect their own data and uncover insights from their most important audiences, connect here.
About Sogolytics:
Sogolytics stands at the forefront of experience management solutions, empowering businesses to efficiently capture, analyze, and act upon customer and employee feedback. Committed to innovation and driven by a dedication to its clients, Sogolytics is reshaping the landscape of customer and employee engagement. For further information, please visit Sogolytics.com.
Media Contact
Melissa Krut, Sogolytics, 1 7035429624, [email protected], https://www.sogolytics.com/
SOURCE Sogolytics
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