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Want to win in the next recession? Skip the foosball cultivate trust, belonging, and purpose.

Want to win in the next recession? Skip the foosball cultivate trust, belonging, and purpose.
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"Companies that rank in the top 10% in engaging their employees…posted profit gains of 26% through the last recession, compared with a 14% decline at comparable employers…"

Source: www.wsj.com

Since the 50’s we have known employee engagement flourishes when people feel a sense of purpose, belonging, and autonomy. 

 

I’m always skeptical of which is cause and which is effect in claims like those in this WSJ article, but the connection between employee retention and company culture is hard to question.

 

At WD-40, where over 90% of employees are engaged (compared to the U.S. average of 34%) and shareholder returns have grown at a compound annual rate of over 20%, the CEO insists "It’s because of our people." From the decorations on the wall to the shared vocabulary they use, the company emphasizes "positive lasting memories."

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