We hear a lot about corporate culture. But what does it really mean? In essence, the concept defines your company’s vision and the way it treats its various stakeholders. No wonder the idea plays such a crucial role in the recruiting process, letting you attract better candidates and improve your team-building possibilities.
Workers want you to define a strong culture and use it to guide your operations. One study found that nearly nine out of 10 employees (88%) think a distinctive culture helps a company achieve success.
Meanwhile, ignoring culture will effectively eliminate most of the high-value candidates you hope to recruit. A survey conducted by CareerArc found that a terrible employer reputation will lead four out of five candidates to move on to other opportunities.
Don’t let this happen to you. Make culture one of the pillars of your recruitment strategy. To convince you of the value of this course of action, here are the ways improving company culture can attract better candidates:
More Than Money
Of course, top talent demands top dollar. Your high-value candidates will definitely ask for competitive salaries. But this is just the start of the process of recruiting a winning team. Your best hiring options will usually want a strong culture as well.
One study showed that more than three out of four job candidates (77%) said they considered a potential employer’s culture before weighing a job at that company. That figure represents a huge part of your potential workforce.
Building a strong culture might not land you the best talent on its own. However, not having an enticing vision and a welcoming atmosphere will cause you to lose out on strong candidates. You’ll still have to compete on other measures, like compensation, but the right culture puts you in the mix for the employees you need.
A strong corporate culture helps you win candidates once you get to the job-offer stage. But the benefits don’t stop there. Culture can also expand your pool of possible candidates, letting you connect with talent you would miss if you had a more restrictive mindset.
A winning culture includes developing a welcoming, inclusive environment. It means embracing diversity and keeping an open mind. This allows you to deepen the talent pool for your open positions as you search for candidates of different backgrounds, different generations, and different skill sets.
Thanks to these dynamics, diverse organizations outperform their competitors. One study showed that diversity led to the creation of 19% higher revenue. Culture makes this kind of boost possible.
Another Mode of Recruitment
Developing an enticing culture can also expand the ways in which you approach talent. The nature of the modern economy makes job seekers as much like consumers as they are applicants for a position. Finding the best talent involves leveraging some of the tools of marketing to connect with the type of candidates you need.
In this way, culture becomes a core aspect of your employer brand. Here are some of the ways a strong culture opens up your recruiting options:
- Improve Your Online Reputation
- Word of Mouth
- Passive Recruitment
Having the right culture helps you attract the best talent possible. Meanwhile, great employees make it easy to build a winning culture. To find those team members, partner with a top recruiting firm, like SmartTalent.
Contact SmartTalent today to learn more.