Culture Is More Important Than Money
It's not enough just to pay competitively. Today's workers place at least as much -- and often more -- importance on a company's culture than on comp and benefits.
"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," said Christian Sutherland-Wong, president and COO of Glassdoor, which recently released the results of a survey measuring sentiment around mission and culture in the workplace.
Of the 5,000 adults surveyed in the United States, United Kingdom, France and Germany, 77% said that before applying for a job, they research and consider a company’s culture. If it doesn't mesh with their personal values, 73% wouldn't even apply.
So significant are a company's values and culture for job satisfaction, that 56% consider them more important than pay.
“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 Sutherland-Wong.
In the US and UK, culture is even more important to younger workers. In the US, 65% of 18-34 year olds in the survey put culture ahead of salary for job satisfaction; 66% in the UK said the same thing.
The Glassdoor survey points to the importance of articulating values and mission in recruiting. A salary needs to be competitive, but paying a few dollars -- or more than a few more -- won't entice candidates if your company culture isn't one they can support and believe in.
Glassdoor's chief economist, Dr. Andrew Chamberlain, counsels, "Employers looking to boost recruiting and retention efforts should prioritize 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.”