How to improve employee retention: Upholding company values
Are the values of a company important to an employee? According to the latest surveys, it seems that the answer is yes.
Are bosses good at upholding the company values?
The majority of Singaporean workers find the values of the company as important. When asked to rate their companies in promoting values, almost 6 in 10 employees said their bosses are merely doing an "average job". 3 in 10 workers said that their companies are doing a good job, while 8 percent said their companies are doing a bad job.
This is compared to the average response from Singapore, Thailand, Malaysia and the Philippines, where 51% said that their companies are doing an average job in upholding positive values,44 percent say that their companies are doing a good job, and 5 percent are doing poorly. Also, more than 40 percent of Singaporeans said that the values of the company they work for are important, and 16 percent said that it is very important, whilst only 33 percent are somewhat important. In contrast, 4 percent said that it is somewhat unimportant for their jobs to have values, with 2 percent said that it is unimportant, and only 1 percent reported it is very unimportant.
Will Singaporeans compromise their values while working for a company?
Singapore is also the top country where workers will not compromise their values for a job, with 55 percent saying that they will not do so. This finding was the highest amongst the other countries surveyed. However, 40 percent of workers also said they are willing to forgo their values as long as they do not commit anything illegal, while 6 percent said that it does not matter whether they need to compromise their values. With more than 90 percent of Singaporeans saying that the values of their employers are important, more than ⅓ are willing to work in a firm which goes against their values. Almost 1 in 10 also said they are fine if their employer lies or manipulates the truth if it is not illegal.
What are your thoughts about the survey findings? How can companies better uphold the company values to attract and retain employees?