There are many causes to be concerned about in these extraordinary times. However, it’s good to keep in mind that there are some things that are changing for the better. One such change is the reinvention of company culture. Now more than ever, companies are expected to provide their employees with flexibility, as well as a sense of belonging and wellbeing. Company culture is shifting to being more human-centered and individual and the result is an increase in employee satisfaction.
An insightful 2022 LinkedIn report into Global Talent Trends that you can read here reports that “for companies to attract, retain, and grow the talent that will bring them sustained success, they need to fine-tune — or overhaul — their culture to meet the expectations of professionals to be seen as human beings first.”
The data from the LinkedIn report was compiled in this way – “we talked to two dozen leading talent professionals around the world and reviewed proprietary LinkedIn data taken from millions of employee engagement surveys and billions of actions on our platform to understand how a caring culture has become the pivotal asset for companies worldwide.”
Here are some of the key findings:
- When employees are satisfied with their company’s time and location flexibility, they are 2.6 x more likely to report being happy and 2.1 x more likely to recommend working at the company.
- The global average of candidates that consider company culture a top priority is 40%.
- There has been a 343% increase in mentions of flexibility in company posts since 2019.
- Workplace flexibility appears to be more important for younger workers (Generation Z and Millennials).
- More employers are trusting employees to get the job done during the hours they choose.
Wellbeing and Culture
- If employees feel cared for at work, they are 3.2x more likely to report happiness at work and 3.7 x more likely to recommend working for the company.
- Organisations need to have a competitive company culture to attract and retain talent.
- There was a 25% global average increase in LinkedIn members changing jobs between August and October 2021 compared to the same period in 2019, with the biggest increase in Asia-Pacific – a 60% increase in members changing jobs.
It’s critical for organisations who wish to be competitive in this job market to understand the reinvention of company culture that is occurring. The mindset that we can now start to return to ‘business as usual’ would be detrimental for companies. Instead, time and effort must be invested to understand how employee expectations and motivations have changed and to provide solutions that appeal to workers.