Toxic Workplace Cultures Cost Companies Billions

One in five Americans have left a job in the past five years due to bad company culture. The cost of that turnover is an estimated $223 billion, according to a new Society for Human Resource Management (SHRM) report on workplace culture.

 

“Billions of wasted dollars. Millions of miserable people. It’s not a warzone—it’s the state of the American workplace,” said SHRM president and CEO Johnny C. Taylor, Jr., SHRM-SCP. “Toxicity itself isn’t new. But now that we know the high costs and how managers can make workplaces better, there’s no excuse for inaction.”

 

The report, The High Cost of a Toxic Workplace Culture, surveyed American workers to explore the impact of workplace culture on both the well-being of workers and the bottom line of businesses. It found toxic culture costs companies a fortune in turnover and absenteeism; highlighted common indicators of bad workplace cultures, such as discrimination and harassment; and underscored the alarming impacts on employees.

Source - Read More at: facilityexecutive.com

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