Company Culture: the Key to Employee Longevity
Company culture has become one of the most important factors in attracting and retaining employees. 91% of hiring managers say a candidate’s fit with the company culture is equally or more important than applicable skills and experience.
So, what exactly is “company culture” and how are top tech companies like Google and Netflix strategically using it to attract IT professionals?
A company’s culture is defined by a variety of factors including corporate values, size, and the different markets the company serves. It is the core beliefs and collective behavior that represent the company’s vision. It is utilized in the hiring process to not only locate successful employees but also retain them.
The more likely a candidate fits into the company culture, the more likely they are to stay with the company long term. If an individual is hired who has a perfect technical skillset and experience, but does not seem to mesh with the company culture, they will probably have difficulty adjusting and leave their position. A study found that 46% of newly hired employees fail within 18 months and, of that group, 89% fail due to difficulties adapting to the work environment and company culture.
When emphasizing company culture fit in your quest for finding new employees, it is important to have a clear definition of what your company’s culture is. One of the best ways to do this is through the official mission statement. Make sure your company’s mission statement is straightforward, accurate, and accessible to the public. It should reflect not only the current character of the company but also the values important to directing your company into new areas of growth and success. Displaying the mission statement on the company website serves as an effective way to relay company culture to future job candidates and clients.
Another tactic is to present your employees’ personal statements about their experience. This allows people to learn about the company culture from an authentic and diverse viewpoint. If you conduct an on-site interview, give the candidate an office tour and allow them to ask questions about the workplace and atmosphere. This will also assist the hiring manager in gauging the candidate’s interest.
When screening a candidate, it is important to look for an individual who is a culture fit rather than a culture addition. Critics of cultural hiring are often concerned with the potential of creating a team of people who all think, look, and act alike. A culture addition is when you just add people with the exact same ideas to your team and it can be risky. This can hinder group progress due to a lack of originality. A culture fit, however, is an individual who shares similar values and work ethic, not personality, background, or other beliefs. This is an individual who will strengthen your business and stick around for the long run.
Hiring for a culture fit benefits both the employee and the company and is regularly being used in today’s hiring process across many industries. ABS Technology has a “work hard, play hard” attitude, which is evident in employees in every department. This mentality, along with the modern workplace and the mission statement, works to create an innovative company culture here at ABS Technology. Together, employees create and embody the atmosphere, success and ultimately culture of the company.
Erin joined the ABS team in 2019 as a recruiting intern. As a rising senior at the University of Virginia, she is studying foreign affairs and international business. Prior to coming to ABS, she worked as a recruitment and legal intern for LightGrid.