In today’s competitive job market, where the top talent often has the luxury of choosing from a range of opportunities, how can employers make themselves competitive?
Hiring managers are quick to turn to salary and benefits packages. While it’s undeniably important to keep up with the market and offer candidates the value they expect, it’s hard to compete on salary alone.
However, there is something that employers can do to truly stand out, something that will be completely unique to them that no other employer can offer. Their company culture.
According to our recent LinkedIn poll, 92% of job seekers rank a good company culture within their top three priorities. 38% rank it as their number one priority! Plus, we aren’t the only ones to find this. Glassdoor surveyed over 5000 workers and found that 56% prioritise company culture over salary.
So, how can you go about improving your company culture? Let's delve into some actionable strategies any organisation can use:
1. Establish Clear Company Values: Define what your company stands for. Are you driven by ambition, innovation, quality, care, or knowledge? These values are the building blocks of culture as they tell employees and jobseekers what you prioritise. Clearly articulating your values not only guides decision-making but also aligns employees with a shared purpose.
2. Open Communication Channels: Make it a habit to regularly check in an actively listen to your employees. After all, these are the people best placed to feedback on how your culture is currently perceived. Use surveys to find out what your team like about working here and if they have any suggestions. Then, most importantly, act upon the feedback you receive. Transparent communication fosters trust and empowers employees to contribute meaningfully to your organisation.
3. Embrace Transparency: Communication must go both ways, and transparency is the foundation of trust. Keep your team informed about company plans, progress, and challenges. Instead of asking yourself, “is it necessary to share this?”, think “is it necessary to conceal this?” Transparency reduces uncertainty, creating a more cohesive and engaged workforce.
4. Recognition and Appreciation: Celebrate individual and team successes openly and frequently. Let your team know that you value them. You could distinguish between perks and rewards so that you can respond to specific employee contributions and encourage continued excellence.
5. Lead by Example: Cultivating a positive culture starts at the top. Leaders need to embody company values themselves if they’re going to ask it of their team. Address unacceptable behaviour promptly and decisively to prove to staff that they are in a safe and respectful environment. Empower employees and avoid micromanagement to show that you trust them, too.
6. Create Opportunities for Connection: There’s a reason why team-building exercises are a thing. Creating opportunities for informal interactions strengthens bonds between colleagues. You can foster camaraderie and teamwork through social outings, collaborative projects, or even just by having an inviting space for your team to have their lunch in.
7. Support Professional Growth: Attending to your team’s professional needs is very much part of company culture. Many people want to know that they can progress but it’s important to work with individuals to identify their specific goals. Encourage continuous learning and provide opportunities for career advancement.
8. Prioritise Mental Health: Recognise that mental wellbeing is not something to be taken lightly. Employers have a responsibility to prevent their team from becoming overwhelmed and burnt out. When building your benefits packaging, consider including wellness initiatives, flexible work arrangements, and adequate time off. Regular check-ins and an open-door policy create a supportive environment where employees feel comfortable discussing their concerns.
9. Introduce a Nominated Charity: More and more, people want to feel a sense of fulfilment from their work. Gen Z and Millennials in particular have reported that they consider a company’s CSR programme when job searching. Aligning yourself with a charity is a great way to put action behind your words and demonstrate your values.
Of course, cultivating a wonderful company culture will do great things for your staff retention rate. But how do you communicate your culture to job seekers?
Remember, investing in your company's culture isn't just a perk—it's a strategic imperative in today's competitive business landscape.
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