Culture Amp has released its annual benchmark report that highlights important workplace trends for tech workers. The 2016 New Tech Benchmark Report is the industry standard for analysis and insights into what is keeping people engaged at the companies they work for.
Employee engagement is an expensive issue with the cost of companies losing valuable people as high as $188 billion per year.
Whether companies are classified as New Tech or not, the Culture Amp New Tech Benchmark 2016 is relevant reading. Understanding trends across the board can help organizations identify key areas that can impact the engagement of their employees.
The Report covers a broad range of insights, including:
- Despite reports in the media that millennials are much unhappier at work than other generations, our data suggests that the situation is not really that simple. People whose ages range from 18-24 are actually more engaged than 25-34-year-olds, and neither of these groups is really that different from the 35-44-year-old group.
- Companies that are commercially successful have more engaged employees, and they are 80% more likely to recommend their company as a great place to work. They also had a 40% higher CEO approval rating on Glassdoor.
- Whether resources are being directed effectively or not is proving to have an increasing impact on engagement scores, and it is also often found to be a lead indicator of company performance.
- Walking the talk when it comes to social responsibility commitments is essential – people want their companies to care. Companies should be revisiting their communications strategy to ensure that people are aware of its actions to meet social responsibilities.
- Providing an environment where people can develop their skills and managing expectations of job scopes can help increase employee satisfaction.
- While the media often reports that an employee’s direct manager has the most significant impact on their job satisfaction, Culture Amp’s analysis consistently reflects that this is not true. How high-level leaders perform – in shaping and guiding a company’s vision and mission – is often more important than people’s direct leaders’ performance.
- Age, gender and tenure have an impact on engagement levels.
- Marketers at New Tech companies were the least engaged people when classified by role.
Download the full report here.
About the methodology
Data is sourced from a subset of Culture Amp clients who fit the New Tech description. All companies provided consent for data to be used anonymously and, in return, have access to Culture Amp benchmark data. All data was collected in 2015 and only includes companies with 25 or more employees. Growth and Total Funding information has been sourced from Mattermark.