, 71% of employees say they’re likely to leave a company if they lose trust in their employer and 22% of employees said they had left a job due to trust issues. Employees prioritize accountability, transparency, clear communications, and admitting to mistakes when defining what drives trust for them.Family businesses have historically had better retention rates than non-family firms
, but even their natural resistance to turnover will be tested by today’s competition for talent. Organizations that see this challenging environment as a unique opportunity to attract talent will be at an advantage. To deepen trust with current and potential employees, family businesses should:Be transparent about what your company stands for; how you support your people; how you champion diversity, equity and inclusion; and your ESG goals and progress — then get the word out.
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