Talent Acquisition & Company Culture: What’s the Correlation & Why Does it Matter?
Over the past two years, individuals have seemingly been much more critical of where they’re working and why. But, perhaps to the surprise of many, is that this isn’t something new. SHRM published an article in 2016, surveying over 1,000 professionals, and the top reason they would choose one company over another was their company culture. What is new now in 2022 is the number of people taking bold action and leaving jobs that don’t fit with their values. The sheer number of people leaving companies with toxic workplace cultures for those who are investing in the happiness, health, and success of their teams has shone a light on this time-old problem.
In fact, MIT Sloan Management Review shared that the number one predictor of turnover during the Great Resignation was toxic company culture. But, on the other hand, they also shared that turnover caused by toxic company culture cost American employers almost $50 billion annually before the pandemic and the Great Resignation. So again, nothing new.
If your company isn’t focusing on company culture to attract top talent in the top of your talent acquisition funnel, you may be missing out on some of your best fits.
A Few Key Elements of Company Culture That Job Seekers Are Searching For
All that said, regardless of the Great Resignation, company culture needs to be a top priority for management as it can truly make or break your ability to attract top talent in any era. So, what are a few of the most critical places to start when building a positive company culture?
Aligned Core Values
You may have core values on your website, but do your actions match? It’s one thing to paste them all over the employee handbook or have them posted on the break room wall. But what are you doing to take inspired action towards fulfilling those values to lead to employee satisfaction and business growth?
Implement core value shout-outs at town hall meetings, ask interview questions to gauge alignment with your values, etc.
Use of Technology in the Hiring Process
When companies put innovative, yet human-centered technology at the forefront of their hiring process, candidates notice. Almost half of job seekers have turned down a job offer due to a poor recruiting experience. Technology takes out a lot of the human errors and bottlenecks that drag on the hiring process and contribute to poor hiring experiences. And the best technology also makes a candidate feel empowered, talked to on a personal level, and valued from the get-go. With this sort of experience, candidates gain confidence that the company is at the forefront of innovation and they’re joining something monumental.
Ethical, Inclusive, & Empathetic Leadership
Now more than ever, people want to work for those who have integrity, guided by sound moral values. They want workplaces that celebrate differences and listen to their employees’ opinions and ideas. This starts at the top and filters down from there.
Flexible Work Scenarios
If a parent works better in the wee hours of the morning before the kiddos are off to school, or if a mid-level manager needs to take time off during the day to complete master’s coursework, as long as they’re getting their work done, why can’t they? A survey by the Wall Street Journal uncovered that 95% of people want flexibility in the way they work. So, offer this as a part of your culture and you will reap the benefits when engaging top talent.
5 Keys to Building a Company Culture That Attracts Top Talent
If you’re not quite there yet in terms of building your company culture, that’s okay. The important part is that you’re taking steps toward that brighter future! Here are a few ways you can start or continue to build a positive company culture to share throughout your talent acquisition cycle to engage top talent:
Encourage your team to show up to work as their authentic self. Integrate and accommodate team members, regardless of gender, race, sexual orientation, age, or disabilities.
A healthy team is a productive team. Start investing in mental health resources, fitness perks, bonuses for walking challenges, etc. and you will reap the benefits via a happy and strong team.
LinkedIn’s 2019 Workforce Learning Report uncovered that nearly 95% of employees would stay at a company that invested in their learning. It’s a simple investment that can sow long-term benefits.
Only about half of workers believe their employer is open and upfront with them which isn’t the best way to build trust and loyalty. The more open and transparent, the more connected your team will feel to your mission, values, and work!
No one wants to work for a stuffy company! Have a good time, encourage team building and bonding activities, and don’t take yourselves too seriously.
The first step to ensuring top talent is aware of your company culture is ensuring it’s infused into your human resources and talent acquisition infrastructure. If you’re experiencing Workday challenges that are getting in the way of sharing your culture to engage top talent, let’s chat. We offer our first 10 hours of consulting free of charge!