Which is more important, your company culture or your salary? Why the former may mean more to job satisfaction…
Employers may think a competitive salary is all that’s needed to attract and retain talented team members. Yet, while salaries are clearly important, this way of thinking can be risky in times of skills shortage.
After all, the latest findings indicate that:
- 57% of people believe their company culture has more of an effect on their job satisfaction than their salary level.
- 75% would ‘consider’ an employer’s culture before even making a job application.
- 63% think it’s one of the primary reasons they remain in their role.
- And 70% of employees would start looking for a new job if their working culture ‘deteriorated’.
- In addition, respondents favour businesses that represent a ‘clear mission and purpose’ (89%).
It’s not the first time we’ve read such stats. Back in the Spring, it was reported that employees would sacrifice their work-life balance in order to enjoy a positive environment.
Respondents even say they’d choose to work a 60-hour week rather than be a part of a business that ‘doesn’t value culture’.
What contributes to a positive company culture?
Business leaders will want to read this HR News post in full. In summary, there are many elements that contribute to a strong working culture. These include…
- Respecting – and being fair to – the team
- Displaying ‘trust and integrity’
- A culture of teamwork
- Being flexible/open to improvements
- Using ‘pre-boarding’ strategies, such as workplace buddies and mentoring for soon-to-be employees
- Providing continued support/guidance
- Offering recognition and incentives
- Flexible working opportunities
- And strong working relationships (including those with management)
Recognition is also prioritised ahead of pay rises…
Once again, the above list calls to mind another research report.
- More than 3/5 of employees would rather work for a company that expresses praise and thanks than to be paid 10% more without it.
- Yet there’s a clear gap between hope and reality, as only 16% of managers think they’ve been given the tools and know-how to ‘recognise colleagues effectively’.
How do you learn more about an employer’s company culture?
Naturally, it can be hard to truly understand a business’s working culture until you’re actively a part of it. Yet there are some great clues to help you decide whether it’s the sort of place that you’d like to work…
- Have a really good look at the company’s website. This sounds obvious, but you’d be amazed at how many people just have a quick glance at the ‘about’ page. Take the time to really read what the business is highlighting about itself and its team.
- As well as reading the business’s latest news via their website and social feeds, see what others are saying about them. How do their employees talk about their work on Twitter, etc? Has anyone reviewed their experience of working for the company? The latter tends to be more common for larger regional/national employers. Of course, reviews can be subjective yet they can be helpful if you read them with a critical mind.
- Job advertisements can also provide some useful insights. Especially if there are mentions of team outings, company events, employee benefits, charity initiatives, etc.
- Search for the business in the actual news – whether local, national or industry publications.
- Use interviews as a chance to find out more about the working culture and environment.
- And, of course, don’t forget to ask your recruitment consultant for their insights. This is just one of the many benefits of working with an agency who specialises in your field.
Ready to discover a new company culture? Here are the latest jobs.