Do you know that 51% of employees are neutrally disengaged in the workplace, while 13% are actively disengaged?
This is a huge number. Right?
So how do hiring managers and business owners bridge the gap to ensure long-term productivity and satisfaction on both sides? The answer values.
Value-based recruitment helps employers identify candidates whose beliefs, behaviors, and personal values complement their company.
Traditional hiring practices focus more on a candidate’s skill set and knowledge required for the position. Values-based hiring does not overlook the importance of technical aptitude but focuses more intently on the concept of mutual fit. Mutual fit examines what is important to both the candidate and the company and whether the two parties align.
Companies want to acquire talent that wants more than just a paycheck at the end of the month. They look for candidates who believe in their purpose and whose values align with the company’s core values.
It helps build a robust business culture. As a result, you will have happy and engaged employees.
Let us look at what value-based recruitment is and how to implement it when hiring for your organization.
What is Value-Based Recruitment?
Value-based recruitment objective is to create a cohesive workplace culture and improve employee engagement and retention. It ultimately leads to increased job satisfaction and better overall performance.
What are Values?
Values are the core principles and beliefs that guide an organization’s decision-making and culture. It helps define how employees collaborate and what kinds of investments the company will make. It also helps in understanding what types of people the company wants to hire and grow.
Workplace values assist companies in developing a shared goal as well as some guidelines for achieving that goal.
Integrity, innovation, teamwork, and customer-centricity are some examples of common organizational values that can be considered in value-based recruitment.
How Value-Based Recruitment Benefit your Organisation?
Emphasizing values throughout the recruiting process does more than ensure everyone is on the same page. Here are some of the advantages of a values-based recruitment strategy:
- Increase employee engagement: When employees share the same values as the organization, they are more likely to be engaged in their work. They also feel a sense of purpose. This leads to higher job satisfaction, lower turnover rates, and increased productivity.
- Improve cultural fit: Value-based recruitment can help ensure that new hires are a good fit for the organization’s culture. When employees share the same values, they are more likely to get along with their colleagues and work well together. Overall, this helps to create a productive workplace.
- Boost organizational culture: A shared set of values among employees can lead to a positive organizational culture, which improves morale, teamwork, and communication. This can help create a more cohesive and supportive work environment.
- Improve performance: Value-based hiring ensures that employees are more likely to understand the company’s goals and mission and work in the same direction. This can lead to better performance as employees are more motivated and aligned with the organization’s objectives.
- Build a positive brand image: A strong organizational culture can help attract and retain top talent, as well as build a positive brand image. This can be particularly important for organizations that are looking to attract millennials and Gen Z. As these individuals tend to prioritize working for companies that share their values.
How to Implement a Value-Based Recruitment Plan
Incorporating a value-based recruitment plan can be daunting. Also, it will reap no benefits if not executed properly.
It is important to use effective strategies when it comes to showcasing the value of your company’s hiring process. Every stage of your hiring process must demonstrate the values and principles your organization has. It will help you connect with the right candidates for your organization.
Let us discuss the steps involved in implementing a value-based hiring plan:
1. Define your Company’s Core Values
The first step in a values-based recruitment strategy is to clearly define your company’s core values. These are the principles and beliefs that guide your company’s behavior and decision-making. Your core values should be authentic, meaningful, and relevant to your organization.
To define your core values, start by asking yourself what is important to your company, what you stand for, and what sets you apart from others. Once you have identified your core values, communicate them clearly and consistently across your organization. You can include these values in your job postings, website, and other recruitment materials.
2. Communicate your Values to Candidates
The next step is to communicate your values to candidates. This can be done through job postings, career websites, and social media. Make sure that your values are prominently displayed and clearly explained.
During the interview process, try to use behavioral-based questions to assess whether the candidate shares your values. Ask questions that relate to your company’s values and culture and listen carefully to their responses.
3. Identify Candidates Who Share your Values
Next step in a values-based hiring plan is to identify candidates who share your values. This can be done through a variety of methods, including:
- Reviewing the candidate’s resume and cover letter for any mention of your company’s values or related experience.
- Checking the candidate’s social media profiles to see if they align with your company’s values.
4. Assess Candidates Based on their Values
Once you have identified candidates who share your values, it is important to assess them based on those values. This can be done through a values-based assessment. It is a series of questions designed to evaluate the candidate’s alignment with your company’s values.
In addition to a values-based assessment, you can also assess candidates based on their behavior during the interview process. Look for signs that they are passionate about your company’s mission and values. You can also check if they have a track record of behavior that aligns with those values.
5. Make a Values-Based Hiring Decision
The final step in values-based recruitment is to make a values-based hiring decision. This means selecting the candidate who is the best fit for your company’s culture and values.
To make a values-based hiring decision, consider the candidate’s alignment with your company’s values. Also, consider their skills, experience, and potential for growth. Make sure to communicate your decision to the candidate in a timely and respectful manner.
Value-based recruitment is an excellent strategy to include in your hiring plan to meet top talent. However, remember that the procedure is challenging. By following the above-mentioned steps, you can identify and attract candidates who share the same values as your company. And make a hiring decision that is grounded in your company’s core principles.
Start by mapping out your company’s values to efficiently incorporate them into the recruitment process. Also, take advantage of hiring and recruitment software to quickly streamline the process and hire top talent.