Implementing These Culture Trends Will Increase Your Retention
During the recession, employers had little motivation to build an attractive company culture, but now that the competition for talent is fierce, companies that don’t have an attractive culture are at risk of losing out on top talent to companies that do.
The value of company culture is regularly indicated in surveys. A recent study by LinkedIn found 70-percent of American professionals saying they wouldn’t work somewhere with a bad culture. In fact, the same survey found that employees would rather put up with bad pay and forego an impressive title than work in a bad environment.
Clearly, it’s essential for companies to get on-board with the growing trend of culture as a recruitment tool. Consider the following techniques that companies are increasingly using to build an attractive and positive workplace culture.
Invest in the Well-Being of Staff Members
One of the leading factors cited in retaining top employees is offering workplace benefits with an impact on overall well-being, like significant paid time off, schedule flexibility and affordable health insurance. Professionals also say they enjoy more intangible things, like being at a company that promotes work-life balance, individuality and having a beneficial effect on society.
While people usually love the concept of fringe benefits like free food in the break room and areas for recreation, studies reveals these kinds of novel perks are some of the least appealing factors for today’s employees. Instead, employees say they would rather see their employer prioritize benefits like career development and local charity programs.
Uphold Strong Values
Values clearly define what your business is at its core and research shows they play a big part in attracting and holding onto top talent. In fact, nearly three-in-four professionals told LinkedIn they would take a pay cut to work for a business that has a mission they identify with. Furthermore, about two-in-five professionals said they would leave their job if asked to do something they had an ethical problem with.
Companies should regularly reassess their own values, as society’s values can shift, and younger workers today often have different priorities than younger workers from a decade ago or more.
Create an Inclusive Community
When employees feel like they belong to an inclusive community, they feel like they can be themselves without fear of judgement, a feeling that people say has a big positive impact on wanting to stay with a company. Almost one half of professionals surveyed by LinkedIn who said they are proud of their employer attributed that pride to the business having a positive culture where they feel free to be themselves.
Developing a workplace culture where all staff members feel like they belong is an ace in the hole for retention. The top factor keeping people in their jobs for at least five years is having a group of coworkers they enjoy being around and who enjoy being themselves around.
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At LTI, we fully support the recruitment and engagement efforts of our clients. If your company is currently looking for a staffing partner, please contact us today.