Fantastic article by Josh Bersin in Forbes on company culture and how important it is to attract and keep the best talent (and I might add, the best customers).
It’s a long read so I’ve recapped highlights:
Culture, engagement, and employee retention are now the top talent challenges facing business leaders. More than half of business leaders rate this issue “urgent” – up from 20% last year.
Thanks to websites like LinkedIn, Glassdoor and Indeed, a company’s employment brand is now public information so if you’re not a great place to work, people find out fast. This shifts power into the hands of job-seekers.
What is culture anyway?
Culture is the set of behaviors, values, artifacts, reward systems, and rituals that make up your organization. You can “feel” culture when you visit a company, because it is often evident in people’s behavior, enthusiasm, and the space itself.
More below including different company culture manifestos (NetFlix, Google, Quicken Loans etc).
Once culture is established and communicated, it becomes a tool to screen and assist candidates. The Talent Board (a research group that studies the job candidate experience) found that 41% of all candidates search for information about a company’s culture before they apply. So your culture is already a screening tool when you recruit people.
Remember: great cultures are easy to understand. If you can’t write your values and culture down in a few words, it’s probably too complex.
Companies that focus on culture are becoming icons for job seekers:
Younger companies that focus on culture see a huge payoff.
HubSpot has Glassdoor ratings of 4.6, far above the industry average. They provide free education for their staff and believe so strongly in transparency that they post their board meeting notes and culture manifesto online.
NetFlix’s culture manifesto ”freedom with responsibility” is one of the most popular documents on the internet with over 11 million viewers.
Zappos’ cultural values focus on innovation.
Quicken Loans uses its colorful “ISMS” to guide values (“call back every client the same day” is one of their values).
Google has its 10 ”truths.”
Salesforce focuses on community.
About the Author: Josh Bersin is a leading analyst in HR, talent, leadership, and HR technology. He is also founder and Principal of Bersin by Deloitte, a leading research and advisory firm.
Link to full article with great charts here.