Increased employee turnover is leading to the deterioration of company culture, a report has found.
Research published by Wiley Edge as part of its The hidden costs of onboarding graduate talent report found that company culture had suffered in almost two-thirds (63 per cent) of UK businesses as a result of high staff turnover.
The report, which gathered data from 500 UK-based business leaders, also revealed that high staff turnover had led to 23 per cent of businesses receiving complaints from remaining team members about a change in company culture, with another 23 per cent having noticed company culture deviate from the stated mission and values.
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The research also found that 22 per cent of organisations reported issues arising between team members because a ‘toxic culture’ had developed; 21 per cent had noticed a decrease in employee engagement; while 22 per cent had seen long-standing employees leave the company as a direct result of the culture change.
Further to this, the report highlighted how poor retention rates can turn into a vicious cycle where culture gets destabilised and results in even more employees choosing to leave, further increasing recruitment and onboarding costs.
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