Company Culture: Your Best Recruiter.
When it comes to recruiting and retaining valuable talent, what differentiates your company from its competitors? How can you attract employees who will share your vision and your corporate ethos? How do you prevent the loss of time and money wasted on onboarding employees who leave the company within 6-8 months?
Even in competitive job markets, finding the right people for your company can be difficult. It’s not as easy as just placing an ad or hiring a recruiter. A recent study conducted by Built-In concluded that 35% of qualified applicants would pass on a job offer from an organization with the wrong company culture. The report goes on to state that 88% of employees believe that company culture is the key to a company’s long term success and 92% of executives agree.
Your company culture is what matters most to millennials (ages 25-35), with 67% of millennial applicants admitting that they would prefer a job position that offers half their current salary over a job with the wrong company culture that offered them twice as much.
These are strong data points that highlight the need for companies who currently do not place an emphasis on company culture to modernize in order to attract and retain the employees they want.
So, what exactly is a competitive company culture?
It May Start at the Top, but It’s Measured on the Ground.
Corporate culture is the way your company works, the values and the communication style encouraged within teams, the opportunities for growth and advancement you offer, and the added value you extend to your employees. It’s the personality of your organization and the human side of your employer brand.
This inhouse personality has been linked with employee turnover, productivity, creativity, profitability, corporate value and growth rates. The policies that create a competitive culture may be set in the C-Suite, but it’s most effective when employee perception is taken into account.
Corporate culture is a living attribute, a guided conversation between employees and managers that is ongoing and ever-improving, based on the flow of honest feedback and guided discussions.
What are the key factors that create a positive company culture?
A solid EVP (Employee Value Proposition) assessment examines the opportunities, rewards, work focus, people, and the organization itself to create a better understanding for both management and employees. The assessment can then be used to implement successful culture strategies.
A professional EVP assessment will address the following issues.
- Trust in management, achieved through clearly defined strategies and employee roles, and open communication and collaboration.
- Opportunities for growth and advancement. This includes ongoing training and learning opportunities, promotion from within the company, and recognition programs that reward employees for good work and add to their professional merits.
- Flexibility in work schedules. Among employees surveyed by Built-In stated they would be more loyal to their current employer if they were offered flexible working hours and 86% said they would be less stressed. From the hiring standpoint, 52% of HR managers reported a significant decrease in hiring difficulty when filling positions for companies that offer flexible work schedules.
- Competitive sick and vacation leave packages. Time off is associated with higher employee productivity and satisfaction rates. Applicants appreciate employers who offer them the opportunity to care for themselves.
- Employees work harder and invest more in their work when they believe the company has a relevant mission, even if it’s doing the same thing everyone else is doing, only better. Share your vision with your employees and help them to understand how they fit in.
- Shared values. Trust in management often comes in the recognition of shared values. Some organizations focus on freedom, while others prioritize efficiency, while others may foster both in different departments. Knowing your company’s values help you to choose the right candidate for the right position.
Why Invest in a Professional EVP Assessment?
It can be difficult to assess your company from the inside. Frequently, we see HR managers conducting in-house surveys that do not create a clear picture of the organization as a whole. Worse yet, it is often difficult for employees to trust and speak openly to a corporate representative, which is why assessments are generally more accurate and useful when conducted by professionals outside of the company.
With a professional EVP assessment, you get a detailed picture of your company culture as a whole, and also by teams and departments which may have developed subcultures of their own. This is important because knowing the cultural differences between departments allows you to hire professionals who will fit well with each team, making onboarding and retention more efficient.
A professional assessment gives you a holistic view of how your employees work within your company and what level of loyalty you have earned, plus an actionable plan you can use to boost productivity and recruitment.
There Are 4 Main Focus Areas of Work-stream
What Does a Professional EVP Assessment Entail?
A professional EVP Assessment can usually be completed within 30 days and has three phases.
In the first phase, we conduct guided one-on-one interviews with your employees, managers, HR representatives and C-Suite executives to ensure that all facts and viewpoints are taken into account.
In the second phase, we analyze the structure, workflow and communication style of your company to discover the ideal employee profiles that will best fit your organization and its departments.
With this information, we review the current EVP and note any problems, as well as any employer branding opportunities you may not be aware of. We create a solid plan to enhance your company culture and reach your optimal operational vision.
In phase three, we present you with our report and discuss any concerns or questions you may have. If desired, we can also assist you in the process of recruitment or marketing your employer brand.
Do you have a question about EVP or employer branding? Would like a free consultation to discuss how a professional assessment can help your company to attract, engage, convert and retain employees that will fit your team dynamic and add to your vision?
Call or send us a message today. Helping businesses grow is our passion and we are always happy to listen.