The Soft Costs of Turnover: Why Company Culture Matters for Retaining Knowledge Workers

The Great Resignation saw a record number of people change their jobs post-pandemic – 49 million US professionals switched jobs in 2021, and one in five workers worldwide were planning to quit their job in 2022. Surveys consistently found that job switchers were looking for better, fairer, working conditions and for more fulfilling work. Even before Covid, companies struggled to attract and retain professionals, often relying on financial incentives, often unsuccessfully. Our research suggests another, more sustainable, retention mechanism – company culture.