Hiring and Retaining Top Talent
One of the biggest challenges for employers in 2018 has been hiring and retaining top talent. In order to do this, many companies have incorporated a variety of perks, from ping pong tables in the break room to free season passes to nearby amusement parks, sporting events, or even ski resorts. While these are fun benefits to have, is this really what working professionals are looking for in their job? To answer that question, LinkedIn conducted a survey of over 3,000 U.S. professionals. The results may surprise you!
Listed below are key takeaways from the survey:
- 44% of respondents said strong workplace benefits, like health coverage, paid time off, and parental leave are what makes them want to stay with a company for five or more years.
- 49% stated increased health and wellness offerings as top benefits they would most like to see in their workplace. This backs up early research from U.S. Chamber of Commerce Foundation and the Harvard Business Review.
- 87% said they need to feel proud of their company in order to stay. Things listed that would make them proud to work at a company include, having a positive impact on society, a strong workplace culture that encourages employees to be themselves, good work-life balance, and flexibility.
- 71% stated they would take a pay cut in order to work for a company that shares their values and has a mission they believe in.
- The biggest takeaway of the survey was that 70% of respondents said they would refuse to work for a company with a negative culture.
Putting Survey Results into Action
Now that you have the most recent information outlining what employees look for in a job, it is time to put those results into action! Here are tips from Nina McQueen, Vice President of Benefits and Employee Experience at LinkedIn, on how to transform your company culture and start hiring and retaining top talent.
- Invest in your employees. Investing in your employees’ health and well-being is the best investment you can make. Focus on healthcare, wellness programs, and promoting work- life balance. Not only will your employees’ overall health improve, but so will their productivity and engagement.
- Maintain your values. Values are what define your company at its core an is a key factor in hiring and retaining top talent. Today’s professionals are looking for a company with a clear set of values that are communicated and upheld through the hiring process and through everyday business practices.
- Create a positive, inclusive culture. Creating a culture where everyone feels accepted is the “secret weapon for retention.” Having coworkers they enjoy working with and who they can be themselves around is a top priority for working professionals, and that feeling is a direct result of having a positive, inclusive workplace culture.
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