Toxic workplace culture is more than 10 times as predictive of employee attrition as insufficient compensation, according to research using Revelio Labs workforce data.
The finding was highlighted by The New York Times in “Why Wall Street Is Suddenly Bullish on Work-Life Balance,” an article examining why investment banks were reconsidering demanding workplace expectations as employee morale declined.
Read the full story here.
Why workplace culture matters for retention
Published in MIT Sloan Management Review, the research analyzed 34 million online employment profiles collected by Revelio Labs to identify workers who left their jobs between April and September 2021.
Researchers then estimated company-level attrition rates across 500 organizations representing roughly a quarter of the U.S. private-sector workforce. Revelio Labs CEO Ben Zweig was among the study's authors.
The findings offer insight into why higher compensation alone may be insufficient to retain employees in workplaces struggling with cultural problems.
Read the full New York Times article for more on Wall Street's changing approach to work-life balance.
Read the full article: https://www.nytimes.com/2022/02/04/nyregion/wall-street-toxic-work-place-culture.html
FAQ
What does Revelio Labs measure?
Revelio Labs provides standardized workforce data covering areas including employment, job postings, hiring, compensation, skills, company headcount, and employee sentiment.