While high salaries and unique perks may have once been the keys to attracting top talent, a new survey from Glassdoor shows that a company's mission and culture matter most to job seekers.
Glassdoor's Mission & Culture Survey 2019 found that over 77% of adults across four countries (the United States, UK, France, Germany) would consider a company's culture before applying for a job there, and 79% would consider a company's mission and purpose before applying. Furthermore, over half of the 5000 respondents said that company culture is more important than salary when it comes to job satisfaction.
"Across the countries we surveyed, it's clear that job seekers are seeking more meaningful workplace experiences," said Christian Sutherland-Wong, Glassdoor President and COO. "Job seekers want to be paid fairly but they too want to work for a company whose values aline with their own and whose mission they can fully get behind."
Interestingly enough, culture matters even more to millennials and younger adults. Our survey found that in the U.S. and UK, millennials are more likely to prioritise culture above salary. Plus, 73% of all adults surveyed would not apply to a company unless its values alined with their own personal values.
You may be asking yourself and your HR colleagues, "Are we investing in our mission and culture as much as we should?" In today's tight job market, corporate culture is paramount to recruiting the best candidates.
What Aspects of Company Culture Matter Most to Job Seekers
Culture is on employees' minds, and it drives their relationships with their employers. In fact, 96 percent of Glassdoor reviews that MIT recently sampled discuss some element of culture. This helped researchers isolate the Big Nine.
The Big Nine are those aspects of culture that matter most in today's job market. Here's how they break out:
Agility: Agile companies are nimble, flexible and quick to seize an opportunity. Internet and management consulting companies are leading industries when it comes to this value. Uber is a top-notch practitioner of this corporate value.
Collaboration: When companies exercise this value, their employees are cohesive and productive, within their group and across teams. Fast food and retail apparel are some industries that have this down to a science; HP is a standout.
Customer: The customers' needs are central, for businesses that radiate this value. The company prides itself on listening to customers and creating value for them. Pharma & bio tech and medical devices are leading industries, while Chick Fil A is a distinguished player.
Diversity: Bring yourself, because there's a place for everyone in these inclusive cultures. Diversified financial services and consumer goods are some top industries when it comes to cultivating diverse cultures, and TD Bank is a leader.
Execution: Companies implement this value by fostering behaviours like taking personal accountability for results, delivering on commitments, prioritising the activities that matter most, and adhering to process discipline. Toyota is a high performer when it comes to execution.
Innovation: Companies that value and fuel creativity and experimentation and are eager to implement new ideas exhibit this value. Communications equipment and enterprise software are lead industries when it comes to innovation, and SpaceX is a standout.
Integrity: Staff members across the board, from entry-level professionals to company leaders, maintain a code of honesty and ethics that consistently inform their actions. Industrial conglomerates and electrical equipment companies are leading industries when it comes to integrity, and Charles Schwab is top notch.
Performance: The company recognises performance and rewards results through compensation, recognition and promotion, and it handles underperforming employees tactfully and strategically. The insurance and semiconductor industries stand out when it comes to performance, and Goldman Sachs is a leader.
Respect: Employees, managers and leaders exercise consideration and courtesy for each other. They treat one another with dignity, and they take one another's perspectives seriously. Consumer goods and enterprise software are high performers when it comes to this value and SAP is a standout.
The research makes it clear that today's job seekers no longer solely prioritise pay and benefits. Rather, people are looking to work for a company whose values aline with their own and whose mission they can support.