With the cost of a bad hire being as much as $50,000 or more, a candidate’s cultural fit has become a major factor that companies consider before extending an employment offer. Moreover, cultural fit determines a candidate’s staying power. Turnover can potentially cost a company 16 to 21 percent of an employee’s annual salary.
Companies should also keep in mind that cultural fit is a concern for job seekers as well, therefore, you must ensure you communicate your company culture throughout the hiring process. If this is executed properly, you can genuinely and effectively display your organization’s personality and values.
A well-defined company culture will give your candidates a comprehensive idea of what it would be like to be an employee at your organization. If they’re able to see how your business runs and how current employees are treated, a candidate can decide whether or not they would like to work for your company.
Furthermore, the importance of cultural fit isn’t a new phenomenon. Researcher John Morse conducted a study on the impact of congruence on employee performance in the 1970s. Morse split employees into two groups: employees placed in positions the old-fashioned way, and the other based on their personality and psychometric testing. He discovered that the group placed in positions based on personality and cultural fit reported feeling more productive. Morse ultimately determined that the higher an individual’s self-esteem is regarding their position can lead to happiness, and happiness at work can lead to greater productivity.
Here are a couple ways you can show off your company culture to candidates:
Get on social media
Social media is a great way to instantly connect with job seekers and promote your company’s culture. It’s important that you get visual with your social sharing to give candidates a more concrete feel for your company culture. This can include pictures of your employees around the office or at a company get-together. Even sharing updates from events that your company hosts or attends can give candidates insight on what makes your organization unique.
Utilize the power of video
Creating a brief video can help candidates better understand your company’s values, personality, and sense of fun. This video can include interviews with current employees discussing what they love about the company and showing what a day in the office is like. A memorable video showcasing your unique company culture can ensure that only the best-fitting candidates apply for your positions.
These are a just a few great company culture videos being put out there to draw in candidates’ interests:
Enroll in our free e-Course, “From Chat to Video: What Video Has Done And Will Do For Us”, to learn more about video interview technology and how to best utilize it for your company!