Company culture: the next battleground in the war for talent?

by Rossa Brown

Watch our interview with a CEO and a head of PR exploring why company culture will be THE differentiator for your organization when attracting and retaining future talent.

In the seventh in our film series, we asked the question “How can company culture attract and retain Gen Yers?” Take a look at the video to see where we ended up.

Nearly 60% of young Americans say they value the quality of their work lives over the financial payoffs. And over half of Gen Yers plan to find a new job in less than three years.

Two reasons why organizations need to find ways to build engaging and supportive workplace cultures. The cost of failure will be high. You won't be able to attract the next generation of talent to your organization. Worse - you won't be able to keep hold of your existing talent.

“In the future, your people and your culture will be the differentiator.”

- Greg Besner, founder and CEO of CultureIQ

Build a culture to attract Gen Y

Four quick tips for a more Millennial-friendly culture.

  • Have more one-to-ones. Gen Yers who regularly meet with their managers are twice as engaged at work.
  • Put the team first. Have a team-orientated environment and apply it both physically in the workplace, and digitally with the tools and software you use
  • Over-communicate. Build an environment where giving and receiving feedback throughout the year is the norm (not just in one go at an annual review)
  • Use the right tools. Tech can play an important role in boosting employee engagement. Tools like Workplace that go beyond simple communication and become the specific mechanism people use to connect with others and form deeper communities at work

These things can be investments that pay off. 80% of companies that focus on culture during a digital transformation sustain strong performance.

And if you can maintain that focus your culture will develop and grow. Which pays further dividends as you go out in to the market to make new hires.

Because as Greg Besner, founder and CEO of CultureIQ says, “In the future, your people and your culture will be the differentiator.”

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