ATLANTA--(BUSINESS WIRE)--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.
