Glassdoor has released a new survey that claims to measure sentiment around mission and culture in the workplace, along with the level of importance of both. Glassdoor surveyed over 1,000 adults in the UK (and a further 4,000+ in U.S., France and Germany) and, among key findings, claims 77 percent of people would consider a company’s mission and purpose before applying for a job there, and 57 percent say workplace culture is more important than salary when it comes to job satisfaction.
“Having a compelling mission, culture and values are critical when it comes to attracting and retaining top talent in a competitive job market – it is what differentiates each and every employer, ” said Christian Sutherland-Wong, Glassdoor President and COO. “It’s clear that job seekers are seeking more meaningful workplace experiences. Job seekers want to be paid fairly but they too want to work for a company whose values align with their own and whose mission they can fully get behind.”
Culture over cash
Today’s young adults cannot simply be ‘bought’
While the majority of UK adults place culture above salary when it comes to job satisfaction, company culture significantly matters more among younger adults. Two-thirds of millennials (66 percent) place culture above salary when it comes to job satisfaction, compared to just over half (52 percent) of those above 55 years old. Perhaps indicating that today’s young adults cannot simply be ‘bought’; instead employers need to invest in an attractive culture and proposition to attract and retain this crucial demographic.
Company culture is also a critical factor for UK adults today when applying for a job and when deciding whether to stay with a company or not. 75 percent would consider a company’s culture before applying for a job, suggesting that a negative perception around culture could significantly impact efficiency to fill open jobs. Furthermore, 69 percent would not apply to a company unless its values aligned with their own personal values. For companies fighting for talent today, this highlights the importance for an employer to clearly define and communicate their values, as well as demonstrate that they are living up to them.
When it comes to retention, 63 percent of UK adults say their company’s culture is one of the main reasons for staying in their job, while 70 percent would look for a job elsewhere if their current company’s culture deteriorates.
Recruiting needs to be mission-minded
89 percent of UK adults believe it is important for an employer to have a clear mission and purpose, 77 percent would consider a company’s mission before applying for a job there, demonstrating just how important a clear mission is to recruitment, and, 60 percent of employed UK adults say their company’s mission is one of the main reasons they stay in their job.
In a sign that company mission may be be top of mind for job seekers, 78 percent of UK adults believe employers are becoming more mission-driven to recruit and retain talent.
Culture is a key driver of employee satisfaction
Coinciding with this survey, Glassdoor Economic Research published a new report on the leading drivers of employee satisfaction across five countries: UK, U.S., France, Germany and Canada. According to millions of reviews shared voluntarily and anonymously by employees on Glassdoor, the culture and values of an organisation are the strongest predictors of employee satisfaction, followed by quality senior leadership and career opportunities.
“A common misperception among many employers today is that pay and work-life balance are among the top factors driving employee satisfaction,” said Dr. Andrew Chamberlain, Glassdoor Chief Economist. “We find little support for this notion in Glassdoor data. Instead, employers looking to boost recruiting and retention efforts should prioritise building strong company culture and value systems, amplifying the quality and visibility of their senior leadership teams and offering clear, exciting career opportunities to employees.”
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Source: Work Place Insight
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