Culture beats salary
July 18, 2019
By Heather Nezich, courtesy SBAM Approved Partner ASE
A new survey by Glassdoor shows that more than three-quarters (77%) of adults would consider a company’s culture before applying for a job there, and well over half (56%) say company culture is more important than salary when it comes to job satisfaction.
When salary goes head to head with culture, culture wins. While the majority of adults place culture above salary when it comes to job satisfaction, the survey shows company culture matters significantly more among younger adults. Millennials are more likely to place culture above salary than those age 45 and older in two of the four countries surveyed—U.S. (65% vs. 52% age 45+) and UK (66% vs. 52% age 45+).
Company culture can be a critical factor for job seekers today when applying for a job and when deciding whether to stay with a company. More than three-quarters (77%) of adults would consider a company’s culture before applying for a job, suggesting that a negative perception around culture could significantly impact ability and efficiency to fill open jobs. Nearly three-quarters (73%) of adults would not apply to a company unless its values aligned with their own personal values. For companies fighting for talent today, this highlights the importance for employers to clearly define and communicate their values, as well as demonstrate they are living up to them.
When it comes to retention, 65% of employees say their company’s culture is one of the main reasons for staying in their job. 71% of global employees would look for a job elsewhere if their current company’s culture deteriorates.
Culture drives employee satisfaction. Glassdoor Economic Research published a new report on the leading drivers of employee satisfaction across five countries: U.S., UK, France, Germany and Canada. According to millions of reviews shared voluntarily and anonymously by employees on Glassdoor, the culture and values of an organization are the strongest predictors of employee satisfaction, followed by quality senior leadership, and career opportunities. In Germany, quality senior leadership is the leading driver of employee satisfaction.87% of HR leaders say culture and engagement are their biggest challenges
According to a Deloitte Global Human Trends survey, 87% of HR leaders state that company culture and engagement are their biggest challenges. One important aspect where HR can play a key role, is hiring the right candidates that fit into the corporate culture.
Five key questions you can ask during the interview process can help identify culture fit:
1. In what type of work environment are you most productive and why?
2. How would past coworkers best describe your work style?
3. What management style motivates you to do your best work?
4. When working with a team, what role are you most likely to play?
5. What were the positive/negative aspects of your previous work environment?