A culture of joy can have a positive impact on employee retention and reduce costs related to recruiting and onboarding new staff. Research conducted by the Institute for Employment Studies in the UK found that improving employee well-being led to improved performance, fewer absences, and increased retention. And according to a study by A.T. Kearney, the current generations expect to experience joy at work. In the Kearney study, 500 employees of various ages from different companies that are worth $2 billion in revenue across different industries, promoting a full range of experiences that visibly yield joy was a critical factor in acquiring new talent and retaining it. This resulted in nearly 100% of newly recruited consultants consisting of millennials and Gen Zs. Of the recruits, 90% of the respondents said they expect to experience a substantial degree of joy at work for their careers. (Liu, 2019).
When companies are able to provide employees with the culture of joy that they are expecting, they are more likely to stay with a company because they have connected on common values.
