For HR professionals responsible for attracting and hiring top talent, it’s important to understand what most motivates today’s workforce. Recent economic turbulence may make the prospect of courting employees through more conventional means like aggressive salary packages seem less than ideal. With that in mind, what can companies lean on to pull in the best employees in lieu of inflated financial compensation?
You may be surprised to learn that what attracts new employees today even more than money is company culture. In fact, a survey conducted by Monster.com reported that 87 percent of candidates want an employer that “truly cares about the well-being of its employees,” while just 66 percent prioritized a high base salary. While this is good news for employers, it’s also important to understand the importance culture has on your workforce, and what you can do to help steer it in the right direction.
A Purpose-Driven Workforce
One of the biggest differences that separates the upcoming millennial generation from the current incumbent workforce is a widespread emphasis placed on purpose and impact in the workplace. No longer are employees simply looking for a “job” to occupy an eight-hour block of the day and then forget about until the next morning. Inbound employees instead increasingly desire work that they feel will have an impact on the world around them, FastCompany.com reported.
Employers should be looking to foster this purpose-driven mentality, as it can very often lead to a much stronger feeling of ownership and results-focused workplace habits. As an employer, there is an opportunity for you to recognize and capitalize on this right from the interview. CareerProfiles.com recommends making discussion and emphasis on culture a key component of the interview and corporate training program, so that new hires can be introduced to your overall company mission right from the start.
Trust In Skills, Value Results
Every employee wants to feel they are a valued and unique part of their workplace team. A study reported by USA Today listed employee trust in management as the number one commonality among companies reported to have the best corporate cultures. Simply put, if employees feel respected by their boss, they will in turn be much more likely to reflect that respect back up the management chain, leading to a happier and more efficient workplace.
The flip side of this is not only giving employees opportunity to take initiative and solve problems, but also recognizing individual successes and rewarding outside-the-box thinking. Whether it be something tangible like a small bonus or even something as simple as sending around an e-mail publicly acknowledging the employee’s accomplishments, workers whose efforts produce results, which in turn produce recognition, is an essential part of making each member of your workforce feel wanted.
Show Your Appreciation
According to USA Today, company pride and camaraderie are some of the most prevalent characteristics of companies with healthy culture. After all, work is where your employees spend the bulk of their day and their brain power, so it’s important to make them feel like their job is worthy of their time and effort. Sure you’re paying your employees, but it’s always helpful to take time to openly demonstrate that you appreciate all the hard work they do for you.
Your efforts at employee appreciation need not be extravagant. Things as simple as ordering lunch in for the office or as full-blown as a summertime pool party all go a long way in demonstrating to your workforce that you value their dedication to your company values, and will help establish the office as a place your employees feel good about spending time in.