Why company culture is more important in the recruitment process than you might think
A healthy salary is certainly higher up on the priority list for many job seekers, but is it enough to attract the best talent? The millennial and generation Z workforce place greater importance upon working for an employer that is aligned with their personal values. Most importantly, the employer must be able to maintain a positive, healthy environment and company culture for its workers.
It’s not by chance that specific organisations are consistently named Best Place to Work. These companies take a strong focus on creating a positive company culture to empower their employees to feel happy and be successful.
Research and statistics reinforce the success of this approach. For example, according to CultureIQ, “employees’ overall ratings of their company’s qualities — like collaboration, work environment, and mission and value alignment — are 20% higher at companies with strong cultures.” Further, Deloitte found in a survey that “94% of executives and 88% of employees believe a distinct workplace culture is important to business success.”
Below, Leonid Group reveals how corporate culture can play a critical role in the success of your recruitment process too.
The majority of workplace changes are being driven by the millennial generation. On top of this, Generation Z is only a few years away from stepping into managerial roles – some of them already doing so.
If you aren’t attracting this age group of talent, your growth is likely to be limited and it’s possible that you’ll eventually discover you have a skills shortage.
So, how can you prevent this problem from occurring in your business? This is the generation who want to be recognised as individuals rather than cogs in the system. More than anything else when reviewing job opportunities, a person of these ages will seek out strong company cultures. Ensure it’s a prominent feature in any recruitment campaign.
Authenticity is attractive to employees
As previously mentioned, a positive culture gives a company a competitive advantage – but it needs to be genuine. People like to do their homework on a potential new employer, from getting advice from recruiters to speaking with previous and current employees.
A company that has a strong, fun-loving corporate culture will attract talent that is seeking out long-term employers, rather than a stepping-stone.
Higher job satisfaction
After you’ve spent the time and money seeking out the perfect fit for a position, you want to ensure they stick around. Not only does culture attract talent, but it also maintains it. Job satisfaction tends to be higher at organisations with a positive corporate culture.
Investing in the well-being of your employees is not only beneficial to them, but it’s also advantageous to you too as you’ll be rewarded with happy, loyal staff who genuinely enjoy their work.
An extra bonus
Not only will you have an environment for your staff to be happier, healthier and less stressed, you’re also likely to see a significant return on your time investment. Don’t believe us? Let the numbers do the talking.
Forbes did the research and made the discovery that companies with strong cultures saw a 4x increase in revenue growth, with CFO stating that companies that have been recognised in Fortune’s annual 100 Best Companies To Work For list gain returns as high as 495%.
Getting your company culture “right” isn’t an overnight job and every business is different. Ensure you’re considering a strong set of company values that are relevant to your company objectives – but most importantly, ensure they’re maintainable and realistic. With time, you’ll increase your competitive advantage in the jobs market and have a happier, healthier workforce as a result.
Want help in how to promote your employer brand? Speak to us at email@example.com or call +44 (0)20 3958 7484 today.