“Organizational culture” may be an overused phrase, but culture — and the employer-employee connection culture generates — has become part of recruiting, retention, and the assembling of the right benefits package to engender long-term loyalty.
How important are culture and connection within an organization? They definitely can make a major difference in candidate interest and employee satisfaction. Just consider the following;
- Mentioning culture in job postings increases engagement with the listing (67%).
- One-quarter of employees say they’ll leave an employer if they’re not happy with an organization’s culture.
- Nearly 15% of job seekers will decline a job offer because they don’t feel comfortable organization’s culture.
THE POWER OF THE RIGHT BENEFITS TO SUPPORT EMPLOYEE CULTURE IN THE WORKPLACEThe importance of culture and connection is magnified by its role in the employee experience with benefits. Using technology and analytics, employers need to understand the needs of their employees as a collective, but more so the needs of individual employees.
Leaders can benefit from understanding what elements truly account for their organization’s culture and simply audit their brand to figure out the culture that is already in place. For example:
- “Caring” cultures emphasize a familial environment and will offer family-centric benefits. For example, such a culture could cover costs for fertility treatments, surrogacy services, and adoption.
- “Learning” cultures put an emphasis on personal and employee development, through education, development plans, consistent employee evaluations, educational reimbursements, and sabbaticals.
- “High-performance” cultures are all about delivering value on time and under budget, whether that’s to customers, internal clients, or vendors. These cultures make benefits robust, easy to choose, and that aren’t overly complex.
A common misconception is that employees love their work, the company, and its brand, but often employees are connected to their teams and teammates more than the organization itself.
Understanding the difference is important. Organizations should focus on strategies that reinforce the connection with teams or alter it with benefits that deliver on QEX’s promise.
PULLING IT ALL TOGETHERUltimately, organizations should examine their employee culture in the workplace and determine what makes it that way, rather than imagining their culture as something it is not. They should also fashion benefits with empathy in a manner that strengthens their culture and connection with employees.
What’s more important than identifying a culture as “good” or “bad” is understanding its underpinnings — and importantly, whether the culture aligns to the organization’s values and business strategy.
Here are some best practices on evaluating and strengthening culture:
- Organizations should assess their cultures and see how well they are connecting to employees. This should require an honest evaluation of what leaders believe their cultures to be and what they truly are.
- Through analytics and data collection such as surveys and focus groups, organizations need to understand where employees are professionally and personally. This should inform the nature and strength of their relationship with the company and point the way to benefits that strengthen connection.
- Organizations should consider benchmarking against other organizations that have fostered similar cultures, which can help identify benefits that align with the organization’s culture and improve connection.
Look to trusted experts such as HUB International for advice on every aspect of planning your employee benefits program, including those that align with and help bolster company culture.