Recruiters often speak about lack of a good talent pool or poor joining ratios as some of their major pain points. On further analysis, we figured that in both cases, candidates look out for more information on the organization culture but fail to get it from authentic sources. Before taking the plunge, your potential employees want to know what your values are, as an organization.
Are you showcasing it right or showcasing it at all?
Organizational culture is a clincher for almost all candidates who are contemplating change these days.
“Culture” is a concept which can be broken down into simpler day to day relationships that employee’s experience. Have you ever analysed what are the key elements of your organization’s culture?
Great Place to Work® Institute says workplaces are effectively built on three defining principles:
- TRUST the people they work for;
- Have PRIDE in what they do; and
- ENJOY the people they work with
TRUST, among these, is the most critical that any workplace should have! The Trust factor is something that is created through – management’s credibility, respect received by each employee by the way they are treated, and to what extent a fair game is maintained amongst each employee.
Speak, Listen And Inspire. These three elements help you achieve your organizational goals. It helps build that much required bond between the managers and employees and together they work as a team/family by hiring, sharing and celebrating!
Many organizations work on these principles already but unfortunately they do not showcase their culture for candidates to see. We have listed some innovative, yet simple examples which has helped organizations achieve the trust, transparency and camaraderie are given below:
- Own your Own Stocks! at Cadence
82% of the employees at Cadence, a leading provider of EDA and semiconductor IP, are shareholders. Employees have seen a substantial appreciation of the stock over the last four and a half years (over 800%). Employees have been provided over $250 MIL worth of equity, not including the Employee Stock Purchase Program.
- Know Your New Recruits! at Mahindra Intertrade!
At Mahindra Intertrade, the managing director welcomes new hires into the family by personally engaging with new recruits during their first 6 months in the organization. This includes a minimum of two formal interactions and multiple informal opportunities for interaction.
- Great Employee Benefits at NTPC
NTPC provides monetary benefit and support to employees and their families in the event of permanent total disablement or death of the employee while working with the organization. Under this scheme, the beneficiary is entitled to a monthly payment equivalent to 50% of the employee’s salary last drawn till the employee’s date of superannuation.
- Overtime for what? at Forbes Marshall
At Forbes Marshall, employees have to seek special permission from a central team in case they need to work beyond 8 p.m. on any day. If an employee is observed working beyond 8 p.m. for more than 3 times in a week without prior permission, the employee as well his or her manager is asked for an explanation by the central team.
- Work life Balance At Godrej Consumer Products
Godrej Consumer Products lets employees opt to work part time for up to a year, in order to balance unexpected work and family demands, recover from an illness, pursue an education, and devote time to a volunteer activity in the community or other exigencies
- 0 Hospitalization, 0 fatality at Lodha Group
As per the environmental, health and safety guidelines at Lodha Group, each site has to achieve the goal of ‘0 hospitalization, 0 fatality’. To incentivize associates to achieve this goal, every site that remains free of any major accidents for a financial year is eligible to receive a safety bonus of INR 5,000 for each confirmed construction management associate working on that site.
Just Employee incentives and appraisals might not always be enough to motivate employees to work for the best outcome! You need to increase loyalists at your organization!If you are facing the same problem, go back and analyse all your candidate touch points to see how you are conveying the culture of your company.
And if you have any examples you’d like to share, be sure to leave a note in the comments!