Matching this data by collaborating with Baker Foundation Professor Leonard Schlesinger at Harvard Business School, we found that companies with High-Purpose Cultures see substantially greater results. They had an average of 11.5% on stock returns annually over a 17-year period, compared with an overall market average of 6.4%. They also had employee turnover rates approximately 50% lower than competitors in their own industries. With average turnover costs estimated at 90% to 200% of the exiting employee’s base salary, these lower rates result in significant cost savings as well as knowledge retention within the organization.
Read more: The Benefits of Framing Culture as a Management System