Corporate culture is all about the shared characteristics, beliefs and values that a company stands for, and “cultural fit” is a major component of recruitment that HR people take into consideration when interviewing candidates. Since personal characteristics aren’t usually part of the job description, when it comes down to finding the right candidate, the deciding factor may actually be “cultural fit”. So how can “cultural fit” impact your bottom line? Here’s how:
It Helps Retain your Top Talent
While turnover is a major issue impacting the performance and profitability of many companies, it’s strongly correlated with the lack of cultural fit among your employees. When you create a great, unified corporate culture, people will want to stay. That means that hiring for culture is no longer elective. Keep in mind that retaining existing employees is more cost effective in comparison to attracting and hiring new ones.
A strong corporate culture improves collaboration between coworkers. This makes perfect sense, as spending time with people you genuinely like and get along with can make your work hours go by faster and can encourage creativity and teamwork. When employees are in an environment that shares a set of solid beliefs and values, they’re more likely to be fully invested in the work they do, which will enhance the quality of the work they put on the table.
Higher Job Satisfaction
Job satisfaction levels will likely suffer for employees who love their job but hate the environment they work in. By placing “cultural fit” at the top of your hiring standards, you’re giving your employees a job that they love and an environment that they appreciate. This can ultimately improve job satisfaction rates at your company and reduce turnover.
It Positions you as an Employer of Choice
A positive corporate culture can give your company a significant competitive advantage and will help position you as an employer of choice. Make sure that the leaders in your organization are the role models by encouraging them to make the organization’s core values transparent to everyone on the team.