Turns out, a high salary isn’t enough to attract or retain employees. In today’s competitive job market, companies have to go abovethat keeps people engaged, happy and productive. Here is what a recent survey conducted by Hibob showed… and beyond to create and maintain a work environment
Turns out, a high salary isn’t enough to attract or retain employees. In today’s competitive job market, companies have to go above and beyond to create and maintain a work environment that keeps people engaged, happy and productive. A recent survey conducted by Hibob showed that 69% of job candidates will reconsider an offer if current employees do not seem happy in their roles.
“Poor culture and employee dissatisfaction are driving away more than two-thirds of candidates,” said Ronni Zehavi, CEO of Hibob, the company behind the transformative platform bob, which brings together employees and managers to help them communicate and collaborate more effectively. “While popular trends in perks have come and gone, culture and opportunity are key drivers of employee happiness and support collaboration and productivity.”
So can you empower your employees as a manager or company leader? These are the things to consider:
Offer opportunities for growth
Clear opportunities for growth are among the top priorities for job seekers: 56% of employees rank opportunities for growth as more important than salary. With more than 50% of today’s workers dissatisfied with their current jobs, companies must cater their offerings to the needs of modern workers in addition to offering a competitive salary.
Some companies have an online library of resources that employees can explore on their own time. Others pay for employees to take off site classes and develop their skills. Whatever the opportunity may be, as a leader, your team will excel if you offer them the chance to grow. Challenge yourself with creating these opportunities whenever you can. It will pay off in increased productivity, team morale and retention.
In this new economy, the line between work and life has never been more fluid. Job seekers are keeping their ideal work-life balance in mind. The amount of vacation time offered (45%) and potential commute distance (35%) are key factors that are taken into consideration. Whether your company offers unlimited paid time off or remote work options, addressing these concerns will help workers achieve a better sense of work-life balance.
Create a strong corporate culture
Strong corporate culture is also a top priority for job seekers: 77% of employees feel it is extremely important. Even when there are clear growth opportunities, a competitive salary and other desirable benefits, 69% of candidates will reconsider if a company has a high turnover or if current employees seem burnt out as it shows a lack of employee satisfaction and a weak culture. The challenge is for companies to ensure that their employees are satisfied to prevent fast turnover and loss of morale.
Companies with great corporate culture typically attract and retain top talent. Job candidates care about whether an organization aligns with their personal values, purpose and has a positive work environment. In this landscape, it’s not just a nice thing to have, but it is essential to the long-term success of your company.
While every company defines this concept differently, a strong corporate culture works on improving these two main things: communication and employee well-being. These three strategies will help you build a strong company culture.
With strong competition for top talent and a constantly evolving workforce, employers are faced with the challenge (and opportunity) of keeping their employees engaged, productive and happy—and ultimately, retaining them.