In a tight labour market, how does an organisation stand out from the rest when attracting and retaining the best talent?
A 2019 study from Glassdoor found that over half of the 5000 respondents agreed that company culture is more important than salary when it comes to being satisfied at work. As long as the pay is market rate, it’s not a priority.
Research from Robert Half found that more than a third of people would turn down the perfect role if the company culture was wrong, while a report by Robert Walters found that almost three quarters of workers have left a job because of a bad cultural fit.
So, what is “culture”?
It can seem difficult to define, but it's essentially a set of shared attitudes, values, goals, and practices.
The first thing an organisation needs to do is identify what theirs is. Which can be difficult from within, but it’s crucial that all staff working there know what they’re part of.
For those businesses who want to stand apart from the crowd when attracting and retaining talent, they must have a clear vision and purpose. This needs to be communicated to everyone in the company clearly.
Tips for a good culture:
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Treat everyone with respect
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Be diverse and inclusive
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Set clear values that are championed by those at the top
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Regular training and development
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Tailored feedback and recognition
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Outline the individual’s role in the bigger picture
Culture in practice
This starts from the top. Good leadership means to lead by example and those at the top shape the company culture. It needs to be reflected in their actions and beliefs.
If there is a deviation from the culture, then proactive steps need to be made to ensure they are realigned.
That then needs to be implemented throughout the team. It won’t be successful unless everyone feels like they’re a part of it and that means that inclusion and diversity are intrinsically linked with company culture.
Any damage to the culture also needs to be identified and addressed quickly and efficiently.
All of this creates an environment where employees feel motivated and engaged. Where they feel comfortable making their voice heard, where they have a sense of belonging, and where they know their personal development and growth is valued.
And the reward is simple - retaining and attracting the best talent.
By Tom Seymour, an online content writer for alterniq inspired growth.
