June 17, 2015 – Futurestep, a Korn Ferry company specializing in talent solutions, revealed results of an executive survey on what gives companies a competitive advantage when recruiting top talent.
Organizational culture and employment brand were seen as ranking highest among more than 1,000 responses to the global survey. Nearly two-thirds (61 percent) of respondents said that organizational culture was the most important recruiting advantage for global organizations, followed by possessing a leading employer brand at 26 percent. According to the survey, companies focusing on offering “higher salaries” and “promoting quickly” alone may not be as competitive when recruiting talent, with responses at just six percent and five percent respectively. This follows along the lines of a recent Hunt Scanlon Media survey of millennial talent that suggests money and position title are not leading criteria for young professionals in the workforce.
“Focusing on culture and how that brand is represented in the marketplace has a critical impact on attracting and retaining the talent that will drive business success,” said Neil Griffiths, Futurestep global practice leader – talent communications and employer brand. “The survey results indicate that employers need to think more broadly about what attracts top talent to their organization.”
The survey found that as the hunt for talent is getting more difficult (61 percent of respondents say it’s harder to find qualified candidates than it was a year ago) there is a strong need for employers to closely evaluate and understand what attracts and motivates the ideal candidates for their company. While salary continues to be the “top negotiation sticking point” at 51 percent, “flexibility” comes in second at 33 percent, followed by “title” at 11 percent and vacation at four percent.
“The challenge is for organizations to listen to what employees want from their workplace, such as flexibility, and when possible, find a practical and effective way of delivering,” said Mr. Griffiths. “In today’s digital, social and mobile world, it’s easier than ever to enable employees to work when, where and how they want to, as long as they remain productive.”
Contributed by Scott A. Scanlon, Editor-in-Chief, Hunt Scanlon Media