Attracting new talent has been challenging for many employers post-Covid-19 lockdown. As we all continue to navigate new norms, it is important for businesses to not only fill the workforce gaps of today but plan for the unknown future.
In marketing, it costs less to market to existing customers than it does to prospects. This is because you have already overcome the brand recognition hurdle (learning curve), and they are vested in the brand in some way. The same can be said for hiring employees: it costs less to retain a current employee than it does to hire a new one. This is again because of the learning curve that accompanies the onboarding of a new employee. Even if they are well versed in the position they have accepted, there still are many company processes, procedures and culture differences they will have to overcome in the process.
What is company culture?
Company culture is how people within an organization interact with each other and work together. It is typically a shared set of standards, values, goals, attitudes, and practices that make up an organization.
Teamwork makes the dream work
Company culture first and foremost should be developed and driven by upper management from the top down. This includes developing or refining the company’s mission, values, ethics, goals, expectations and/or employee handbook and work environment.
When developing company culture, include employees in the decision-making process with surveys or open suggestion forums. Some perks may come at a greater cost to a business’ bottom line than others, but they just may be the most valuable thing to employees and should be taken into consideration. Company culture should be a continuous evolution as new staff members are added. Keep in mind that you want to introduce and implement changes slowly to allow existing employees time to adapt before introducing more changes. Open channels of communication are key to making sure implementation goes over well.
Offer unique perks that go beyond the standard benefits package
A sign-on bonus or bigger salary are not always a determining factor in today’s job market. Yes, there are some factors you may not be able to change in your business growth situation (such as location). But you may be able to make some concessions to promote a positive company culture to retain employees as well as attract new candidates. Some enticing examples are:
- Flexible hours
- Remote or work-from-home options
- Unlimited PTO
- Tuition assistance and sponsored professional development
- Lunch and learns
- Casual dress code
- Bring-your-pet-to-work days
- Healthy vending machine options
- Gym membership reimbursement
- Company retreats
- Time off for volunteering
- Corporate matching gift programs
- Company-sponsored charity events
Create a positive work environment that focuses on retention
Company culture affects nearly every aspect of a company, both positively and negatively. High turnover not only costs a business a lot, but it can also harm their reputation and make it difficult for them to attract new talent due to bad word of mouth.
A positive culture fosters a sense of employee loyalty. Employees are much more likely to stay with their current employer when they feel they are treated with respect, given opportunities, get along with co-workers, and enjoy going to work every day.
Recognizing employee achievements not only helps with job satisfaction and employee loyalty but is also good PR for the company when printed in the newspaper, on the company website, and/or posted on social media. It showcases both the culture and the longevity of employees, meaning they have stayed because they are happy.
Examples of employee recognition include:
- Celebrating birthdays and employment anniversaries
- Hosting parties to recognize the contribution of employees retiring or leaving for other employment opportunities, additional education or family reasons
- Reminding employees their work matters: praising team members for reaching sales targets, successfully launching a new product, achieving safety goals, etc.
Summing it up
We hope this information helps your business build a positive company culture for both current and new staffing needs. If you find your organization is having a difficult time reaching qualified candidates for your job vacancies, contact BPM today, and we can help you develop a strategy to get your openings optimal exposure.