We’ve said it many times, and we’ll say it again: Company culture is a main staple in the recruiting process. In order to attract the talent you want, you have to make the talent want you, and one way to do this is to have a culture that candidates are searching for.
A new report released by LinkedIn® explores what it takes to attract, retain, and foster top talent. The report also reveals what company culture means to employees nationwide and identifies what factors companies must prioritize in order to win the war for talent.
The report, Workplace Culture Trends: The Key to Hiring (and Keeping) Top Talent in 2018, features data from a recent survey that was conducted on behalf of LinkedIn. The online survey was conducted in the United States between April 26–May 2, 2018, among 3,010 adult full-time workers.
Culture and Retention
The number one reason employees are leaving your company, according to the LinkedIn report, is because of bad corporate culture (cited by 71% of respondents), followed closely by low pay (65%). Leadership can also make or break your company.
Employees who feel like they belong are more likely to stay with your company for 5 or more years, according to 46% of respondents. The report also says that employees want to feel pride in where they work—and an overwhelming majority of Americans (87%) say having pride in the company they work for matters to them.
Having pride in one’s work is a redeemable quality in any candidate. According to respondents, in order to attract these types of workers, companies would be smart to promote work/life balance and flexibility (51%), foster a culture where employees can be themselves (47%), and have a positive impact on society (46%).
When a company has a culture that allows workers to feel valued and “be themselves,” it is more likely to keep workers longer. And if your company has the budget for them, benefits are another way to attract talent and keep them working for you.
Companies that offer practical benefits are also more likely to retain workers, cited by 44% of respondents—which include paid time off, parental leave, and health insurance, among other things. And while perks are a nice thing to offer, only 19% of survey respondents said they actually prefer these over practical benefits, which means the days of attracting talent with ping pong tables and beer carts are over.
Tips for Improving Your Recruitment Efforts
With all these data in mind, how is a company supposed to expand its recruiting efforts? The LinkedIn report says to maintain your values as an organization and not to force workers to do things they think are unethical—as 39% of respondents say they would leave their current job if their employer were to ask them to do something they have an ethical or moral conflict with.
Breaking the research down by age, however, shows that the younger a worker is, the least likely he or she is to have a moral dilemma. Over half (51%) of Baby Boomers would leave their current job if their employer were to ask them to do something they have an ethical or moral conflict with, compared to just 40% of Gen X professionals and only 31% of Millennials.
Leadership is also a key aspect in helping to recruit talent. According to the report, 60% of respondents say their company’s leadership is the main reason why they are not proud to work for the organization. Showcasing your company’s ability to lead, and lead effectively, will benefit you for years to come.
The LinkedIn report also finds that nearly a quarter (21%) of professionals do not feel they have a senior colleague who has their best interest in mind and/or often advocates on their behalf. By building a strong mentorship program, you can get senior colleagues working with new hires, which, in turn, will help boost morale, improve communication, and allow workers to feel appreciated and respected.
By improving your company culture, refining leadership, and offering practical benefits, you’ll win the war for talent in no time!