Having a great organizational culture is a smart way to not only keep employees engaged and motivated, but also a smart way to attract top talent. The movers and shakers you want to target with your recruitment strategy are the same people looking for companies with great perks. Offer a top-notch company culture and the best candidates will flock to your open positions.
Not sold yet on how essential a good organizational culture is for top talent recruitment? Here are some reasons why you can’t afford to ignore company culture:
Why Is Company Culture So Important?
- First of all, retaining new talent is far from simple. For small businesses, a whopping 46 percent of the talent you hire will be gone within 18 months. Why? In 89 percent of cases this employee turnover is due to a poor fit with the organizational culture.
- According to a 2012 Deloitte survey, 94 percent of executives believe a distinct organizational culture is essential to workplace success.
- The same survey shows 84 percent of executives consider motivated and engaged employees as the top factor contributing to a company’s success.
- The facts seem to back up this belief in the power of company culture. Startups with great company culture typically outpace their competitors who don’t spend much time considering the work environment. For the best company cultures, stock prices can rise as much as 900 percent versus the 75 percent gain for companies with only lackluster cultures.
So what does this mean for your recruitment strategy? And how does the video interview enter the mix? Let’s take a look at how the video interview can help your organization capture top talent:
Using The Video Interview To Determine Organizational Culture Fit
Looking at the statistics above, it’s obvious cultural fit is important. Whether you’re hiring for a big business or a small startup, keeping great talent within the organization is a key factor of success. This means you need to focus on how the candidate will fit into the company culture before they ever step foot into the office.
The video interview can give you a clearer picture of a candidate’s personality, ambition, and career goals. Using the video interview, you should evaluate whether a candidate will fit like a glove into your current culture. Ask questions about how they work with others and what their ideal office environment would be like.
The real benefit of the video interview, however, is its ability to get you a more personal view of candidates faster than in the traditional recruitment process. By watching a job seeker’s one-way video interview answers, you can weed ill-fitting candidates out of the pile of applications and focus only on the candidates who will be a good match for your organization. This helps you cut down on candidates who won’t fit into your organizational culture and will flee your company at the first sign of a better offer.
Use Video Interviews For Company Culture Branding
Obviously you need to be aware of your company branding efforts. Organizations with top-notch company culture brands will, as we’ve mentioned, attract the best and brightest candidates. Think about the talent flocking to companies with great perks like Google, Facebook, and Zappos.
Considering the high demand for talent in certain sectors, including technology, it makes sense to use any advantage you can to promote your organizational culture and try to lure in top talent. After all, the U.S. Bureau of Labor Statistics estimates technology hiring will more than double job growth for every other industry by 2016. In order to be competitive in a cut-throat market, you’ll need to appeal to the best candidates.
Using video interviews helps to brand your company as an organization embracing new technology. You’re showing the company is receptive to new ideas and new ways of approaching common problems. It helps brand your company culture as a place open to new concepts and innovation. In turn, this company brand will be more likely to attract smart candidates with big ideas on how to innovate and grow your organization.
Having a great organizational culture is essential when it comes to winning the war on talent. Thanks to video interviews, employers can focus on cultural fit earlier in the recruitment process, allowing your company to hire the best and brightest before your competitors.