New Definition of Business Generosity Drives Action
26 Junio 2024 - 6:00AM
Business Wire
Why 96% of Georgians Expect It and 51% Will
Leave Without It
When goBeyondProfit began tracking business generosity in 2019,
only 47% of employees considered it important. Today, a resounding
96% of Georgians believe it’s important that the company they work
for is generous according to the 2024 Business Generosity
Report.
Executives and employees report that the definition of business
generosity has changed, and the data shows that a lack of
generosity is motivating employees’ decisions to leave their
jobs
Understanding the meaning of business generosity is now critical
for companies of all sizes. Traditionally, generosity meant
charitable contributions and acts of service. In recent years, the
scope expanded to include employee well-being, as well as
generosity in the way a business operates. From company culture and
purpose to product sourcing, vendor relationships, and consumer
engagement, the definition of generosity now permeates all aspects
of a business.
People Will Leave…In Fact, They’ve Already Left. Data
reveals that 51% of Georgia’s employed adults left a job because of
a lack of generosity to employees. Additionally, 1-in-4 left a job
because of a lack of generosity in business operations (27%) or to
the community (28%). Generosity is a significantly bigger motivator
for Gen Z employees and employees of color.
It is important for executives to note this is an on-going
trend, the data shows that employees hired within the last 12
months are more likely to report leaving a previous company because
of a lack of generosity
People Will Work for Less Compensation. Employees also
claim they are willing to accept less compensation in return for an
improved quality of life. Specifically, 67% of employees currently
are or would be willing to accept lower compensation to improve
their quality of life. This number climbs to 72% when focusing
exclusively on employees under the age of 35.
Executives greatly underestimate this trend: while 34% of young
employees say they are currently making that sacrifice, only 19% of
employers believe they would be willing to.
For those operating a business, this new report shows that
employees everywhere are willing to walk away if they do not see
business generosity permeate all aspects of business.
The 2024 report is based on concurrent surveys that were
conducted between March 12 – April 28. To see the full methodology,
click here.
About goBeyondProfit:
goBeyondProfit is a statewide alliance of more than 2,100
business leaders who pledge to operate generously and improve
people lives.
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version on businesswire.com: https://www.businesswire.com/news/home/20240626822150/en/
Tyler Jacobs, tjacobs@gobeyondprofit.org