Know-How: Steps to Build Magnet Corporate Culture for Attracting and Retaining Top Talents
Corporate Culture is a hygiene factor that can either boost or restrain productivity. Words like job satisfaction, employee retention, talent magnet are closely associated with corporate culture. Most companies expect their employees to adapt to the existing corporate culture, instead of evolving it with time to ensure job satisfaction.
As per the recent trends, organizational culture is one of the top reasons employees leave the job. According to a survey, 25% of candidates stated that they could change jobs to avail better company culture. Therefore, every company must strategize well to build a corporate culture that can attract new talents and ensure talent retention. Here are a few simple steps that can help you do it.
How to Build a Healthy Corporate Culture?
A company is said to have a healthy corporate culture when it rates high in the job satisfaction parameter. According to research, job satisfaction is associated with not only compensation and benefits but also with feelings like appreciation, respect, engagement, and alignment at the workplace. The best way to build a healthy corporate culture involves the following steps.
Evolve with Time
Can you imagine how people would react to tattoos in offices just 5 years earlier? The corporate culture has evolved with time to accept personal choices at the workplace. 91% of Senior managers have vouched that organizational culture has evolved and become more relaxed in the last decade. There has been some relaxation given to dress codes, tattoos, piercing, and a few other restrictions.
Accepting and respecting personal boundaries and choices at the workplace help new employees to adapt to the company culture easily. Moreover, it is the first step of giving them a free hand to express their personality, thoughts, and ideas. Any company that follows this will indeed have happy and satisfied employees.
Nothing is permanent except change. Therefore, the company culture should evolve with time to tap the top tier talents and retain them.
Throw New Challenges for learning
In the cutthroat competition, every employee is focused on learning skills through their current job so that they can grow as a professional. Often employees prefer to change jobs if the job is monotonous and does not help them develop their career.
Skills are best learned when you learn them through challenges. Therefore, the best strategy to create a healthy corporate culture throws challenges at your employees that ensure continuous professional development. Failing at this step may cost you the top-performing employees of your firm.
Know Your Employees
Engagement is an essential factor in building a healthy corporate culture. The employer-employee relationship plays a significant role in determining how good or bad the company culture will be. Therefore, if you are strategizing to build a healthy company culture, you must establish a bond with your employees.
It is essential to know their personal goals and how that can be served as a reward in the near future. Every employee has a different perspective. While some strive for greater pay, some choose a higher position at the firm rather than a monetary incentive.
If you want to develop a magnetic corporate culture, make sure you know the hired talents to retain them.
Offer Career Advancement Plans
As stated earlier, nowadays, employees hate to be stuck in a job that does not provide motion to their learning. Therefore, if you want to attract the top talents in the market and retain them, you must introduce and offer certain career advancement plans.
Career advancement plans refer to training programs for learning relevant skills, cross-training, leadership training, etc. Indeed, these programs add value to your employees and ensure a greater employee retention rate.
Team Building Opportunities and Exercises
A company comprises several individuals, and the company progresses only when the individuals work as a team. It is essential to foster a team spirit to promote healthy company culture. You may have noticed some companies arrange new year parties or a winter picnic for their employees. Yes, it not only refreshes every employee’s mind but also helps them to connect with each other.
This tip may seem to fall in the ‘not-so-important’ category if you do not understand the profound impact of team building. A talent will enjoy working at your firm only if there is no ‘pulling-the-leg’ culture, and this can only be possible if the employees work as a team.
Value Your Employees
The golden rule of building a healthy corporate culture is to value your employee and make them feel values. Top talents strive for excellence, and if you want to retain them, you must chalk out how their abilities have contributed to the excellence of the company. You must provide them with a sense of accomplishment.
The Bottom Line
Company culture plays a significant role in attracting talents and retaining them. Most successful companies have developed greater talent acquisition and retention rates by promoting welcoming company culture. If you have not considered the importance of corporate culture yet, you must start working on the given tips right away.
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