In our conversations with professionals within HR, Employer Branding and Recruitment Marketing, we hear about their latest challenges. A recurring worry for HR teams is to make sure they’re attracting the right candidates and hiring the right cultural fit for their companies.
It’s estimated that the material cost of turnover caused by hiring poor cultural fit can be at least 50% of the employee’s annual salary. Additionally, studies have shown that poor cultural fit correlates with reduced organizational trust and job performance (1,2,3). How can this be prevented?
Finding the right fit starts with talent attraction and candidate experience. Employers can help candidates know for themselves if they’re the right fit by communicating clearly and consistently throughout their career channels.
Here’s an opportunity missed by many employers: According to 82% of the European respondents who took part in the Potentialpark Study, the career website is the most important source of information about an employer. But after browsing it, more than every second student is unsure whether their profile fits the employer. Cultural fit isn’t easy to assess from a single paragraph or value statement. Respondents need a reference point to daily life at the company to see how culture is lived. In fact, information about daily tasks was the most requested content about a team or department, being the highest in Germany with 84% of respondents requesting it, followed by 82% in Italy, 81% in France, and 69% in UK. Across the Atlantic the story is similar: 70% of respondents in the US want employers to share this.
“Cultural fit isn’t easy to assess from a single paragraph or value statement. Respondents need a reference point to daily life at the company to see how culture is lived”
However, the results of Potentialpark’s evaluation of 461 career websites confirms the lack of transparency perceived by respondents: only 23% of the employers from our European study provide information about the career paths within the company, and just 15% describe or visualize the workday of the employees. In the US, only 20% of employers show what a typical day looks like, and a mere 16% talk about career paths. Two relatively easy elements to adopt that may determine whether a visitor becomes an applicant or not, and which can influence their permanence in the company, especially when all other considerations (such as salary, tasks, and benefits) are equal in alternative job offers.
Two employers with outstanding performance in our study are SAP and McKinsey & Company, both provide valuable and timely information about their company culture. One of the first things SAP does in their career website is to literally encourage candidates to consider carefully whether they are a match before they apply. And McKinsey goes the extra mile by offering detailed information about its different industries and roles, meeting talent’s expectations, and taking action in shaping their perception of the workplace even before they apply.
Potentialpark supports employers so they can optimize their communication strategies, present information that is relevant to the candidates, and shape a successful candidate experience. We go directly to the source, and ask talent what they need and want during the job search and application process.
Request your demo or contact us to learn how our products can help you identify your strengths and the elements of your communication that need the most of your attention.
| Written by Pamela Chávez & Barbara Schoell from the Potentialpark Team
September 2017 |