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How to Use Company Culture to Attract Passive Candidates

The document discusses the importance of company culture in tech recruiting, highlighting its role in attracting and retaining talented employees. It presents insights on the current skills shortage, employee turnover rates, and how enriching workplace culture can mitigate these issues. Recommendations include fostering growth opportunities, promoting happiness through friendships, and aligning the company’s mission with employee ideals.

Recruiting & HR◦
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Company Culture•Work Culture Insights•
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With Jim Stroud, Senior Director at Randstad Sourceright HOW TO USE COMPANY CULTURE TO ATTRACT PASSIVE CANDIDATES
WHAT YOU’LL LEARN: Understand why company culture is rising in importance for tech recruiting. Learn how to identify the elements of your culture to promote. Gain ideas on how to communicate culture through social recruiting. 1 2 3 The world’s talent at your fingertips
RECRUITING AIN’T EASY. RECRUITERS BE LIKE… The world’s talent at your fingertips
And let them have the right amount of experience and be willing to accept the salary we offer and... Are you hearing me recruiting gods? POST AND PRAY METHOD* *THIS METHOD IS GATHERING STEAM THESE DAYS. The world’s talent at your fingertips
WHY IS THAT? The world’s talent at your fingertips
2 REASONS WHY THERE’S A LOT MORE POSTING AND PRAYING THESE DAYS. The world’s talent at your fingertips
TALENT SHORTAGE The world’s talent at your fingertips
IS THERE A SKILLS SHORTAGE? When asked to assess the skills of today’s workforce, two-thirds of respondents somewhat or strongly agree that a skills shortage exists, and slightly over one-half say the skills deficit has negatively impacted their businesses. YES! 61% 56% 69% 72% 69% HEALTHCARE MANUFACTURING & LOGISTICS ALL EMPLOYERS 61% OFFICE & ADMINISTRATIVE SKILLS SHORTAGE PERCEIVED ACROSS MAJOR INDUSTRIES Randstad Workplace Trends Survey INDUSTRY SPOTLIGHT 50% 50% PHARMA FINANCE & ACCOUNTING 59% HUMAN RESOURCES ENGINEERING IT The world’s talent at your fingertips
GLOBAL HEAT MAP THE GAP BETWEEN THE GROWTH IN DEMAND AND THE GROWTH IN SUPPLY OF TALENT, 2011–2021. -0.9 -0.8 -0.5 -0.1 0.0 -0.8 -0.5 -0.4 -0.6 -0.4 -0.1 0.5 0.6 1.1 -1.1 -1.2 TREND DEFICIT TREND SURPLUS BROAD BALANCE Numbers show trend growth as annual percentages -1.4 -1.5 -0.9 -0.2 -0.4 0.2 -0.2 -0.6 0.4 0.2 1.5 2.1 0.7 0.7 -0.4 0.9 0.1 0.8 0.8 1.0 -0.1 1.0 -1.0 Oxford Economics The world’s talent at your fingertips
THE TALENT MISMATCH— BETWEEN WHERE TALENT IS MOST NEEDED AND WHERE IT WILL BE MOST AVAILABLE—IS NOT LIKELY TO EVAPORATE SOON. YIKES! The world’s talent at your fingertips
GLOBAL TALENT RISK The Northern hemisphere faces talent shortages in a wide range of occupational clusters largely because populations are aging rapidly and educational standards are insufficient. YIKES! (AGAIN) The United States will need to add more than 25 million workers to its talent base by 2030 to sustain economic growth. FOR EXAMPLE World Economic Forum Western Europe will need to add more than 45 million workers. In Germany, 70% of employers are hard-pressed to find the right people. +25M 70% +45M The world’s talent at your fingertips
THE SKILLS DEFICIT IS EXACERBATED BY THE FACT THAT BABY BOOMERS WILL BE RETIRING AND YOUNG PEOPLE ARE NOT PURSUING THE PROFESSIONAL SKILLS THE WORLD WILL NEED. SKILLS THAT WILL BE IN HIGH DEMAND, BUT SEVERE SHORTAGES ARE ANTICIPATED World Economic Forum DOCTORS SCIENTISTS TECHNICIANS HEALTH CARE IT COMPUTER SCIENTISTS GLOBAL MANAGERS SKILLED TRADES The world’s talent at your fingertips
RETENTION ISSUES The world’s talent at your fingertips
May 2014 The world’s talent at your fingertips
A GROWING CONCERN COMPANIES CONCERNED WITH RETENTION PERCENTAGE OF RESPONDENTS 70 2009 2010 2011 2012 2013 60 50 40 30 20 10 0 The world’s talent at your fingertips
EMPLOYEE TURNOVER TO HIT NEW HEIGHTS IN 2018, 49 MILLION MORE EMPLOYEES WILL BE HEADING OUT THE DOOR COMPARED TO 2012 – A TOTAL OF 192 MILLION EMPLOYEES WORLDWIDE. ITS NOT JUST THE USA! GLOBAL TURNOVER AND NUMBER OF EMPLOYEES Source: Hay Group Cebr analysis 2010 24.0 23.5 23.0 22.5 22.0 21.5 21.0 20.5 20.0 900 850 800 750 700 650 600 550 500 Forecast 2011 2012 2013 2014 2015 2016 2017 2018 Percentage of employee turnover rate (left axis) Total employees in millions (right axis) The global employee turnover rate will see its sharpest increase in 2014. Emerging economies like Asia and Latin America will spike sooner while more mature markets will peak between 2014 and 2018. The world’s talent at your fingertips
ARE YOU FEELING THE PAIN OF THIS STAFFING STORM? SURVEY SAYS... YES The world’s talent at your fingertips
SO WHAT CAN COMPANIES DO ABOUT IT? The world’s talent at your fingertips
IN A WORD, THE ANSWER IS... The world’s talent at your fingertips
The world’s talent at your fingertips
“Company culture is the personality of a company and defines what a company, from an employee perspective, is like to work for…” — Allison Doyle The world’s talent at your fingertips
A LOT OF THINGS ARE ASSOCIATED WITH THE CULTURE OF A COMPANY. LIKE... The world’s talent at your fingertips
THINKING COMPANY CULTURE? I BET MISSION STATEMENTS, OFFICE DÉCOR AND PERSONAL DEVELOPMENT COME TO MIND. POP QUIZ: When it comes to company culture, what matters most? The world’s talent at your fingertips
THE ANSWER: A GOOD COMPANY CULTURE RECRUITS AND RETAINS TALENTED PEOPLE. *(IT ALSO PROTECTS THE BOTTOM LINE.) The world’s talent at your fingertips
WHAT ARE THE BENEFITS OF A GREAT COMPANY CULTURE? 100 BEST COMPANIES VOLUNTARY TURNOVER BY INDUSTRY Professional Services Source: “100 Best data provided by Great Place to Work ® Institute, Inc. 24.5% BEST COMPANIES HAVE 65% LESS TURNOVER Comparison data provided by BUS. ”100 Best” data includes FT & PT turnover; BUS data includes the same in addition to turnover for temp/contract workers. Copyright© 2014 Great Place to Work ® Institute, Inc. Manufacturing & Production 100 Best (%) Healthcare Information Technology Construction & Real Estate Financial Services & Insurance Hospitality 5% 10% 15% 20% 25% 30% 38.0% 35% 40% 5.8% 10.5% 6.0% 17.1% 8.0% 16.2% 8.7% 19.4% 10.3% 12.6% 10.4% 25.9% Industry Average (%) The world’s talent at your fingertips
WHAT ARE THE BENEFITS OF A GREAT COMPANY CULTURE? COMPARATIVE CUMULATIVE STOCK MARKET RETURNS FORTUNE 100 BEST COMPANIES TO WORK FOR® Copyright© 2014 Great Place to Work ® Institute, Inc. Source: Russell Investment Group 500% 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 400% 350% 300% 250% 200% 150% 100% 50% 0% +170.08% +155.68% RUSSELL 3000 S&P 500 BEST COMPANIES PERFORM BETTER. +495% The world’s talent at your fingertips
CULTURE IS THE CONTEXT FOR CANDIDATES. The world’s talent at your fingertips
SO, WHAT MAKES A GREAT COMPANY CULTURE? The world’s talent at your fingertips
GROWTH TO LEARN NEW SKILLS The world’s talent at your fingertips
BHAVIN PARIKH, CEO Our employees receive a monthly stipend to take classes on anything they want. Classes have ranged from ceramics to ukulele to chocolate tasting. I’ve noticed an unexpected benefit — employees now also take more professional development classes and are getting better at their day-to-day work. Learning is contagious. The world’s talent at your fingertips
HAPPINESS WORK IS BETTER WITH FRIENDS The world’s talent at your fingertips
PEOPLE WHO HAVE A BEST FRIEND AT WORK ARE SEVEN TIMES MORE LIKELY TO BE ENGAGED WITH THAT WORK, ACCORDING TO GALLUP RESEARCH. GALLUP RESEARCH SHOWS THAT CLOSE FRIENDSHIPS AT WORK BOOST EMPLOYEE SATISFACTION BY ALMOST 50%. The world’s talent at your fingertips
LIAM MARTIN, CEO We run a remote company with more than 50 employees, so finding a time to have everyone just hang out is rare. Therefore, we implemented a video game day when everyone can come together and play online. So far, it has been a great success and really helpful with inter-division communication. The world’s talent at your fingertips
ABUNDANCE NOT NECESSARILY BEING RICH, BUT LIVING A LIFESTYLE WHERE YOU FEEL RICH The world’s talent at your fingertips
AOL’S HIP AND MODERN PALO ALTO OFFICE The world’s talent at your fingertips
NETFLIX AND OTHERS OFFER UNLIMITED VACATION TIME The world’s talent at your fingertips
SIGNIFICANCE FEELING THE WORK YOU DO MAKES A DIFFERENCE The world’s talent at your fingertips
These brands collectively outperformed the S&P 500 almost 400 percent over 10 years. The study concluded that the best businesses “were built not just on innovative product or service ideas but on ideals.” Research consultancy Milward Brown found in the Stengel Study of Business Growth that the top 50 high-growth brands were, on average, more likely than their competitors to be driven by ideals. The world’s talent at your fingertips
The world’s talent at your fingertips
The world’s talent at your fingertips
MEANING WORKING TOWARDS A HUGE, SEEMINGLY IMPOSSIBLE GOAL. The world’s talent at your fingertips
“IF YOU WANT TO BUILD A SHIP, DON'T DRUM UP PEOPLE TO COLLECT WOOD AND DON'T ASSIGN THEM TASKS AND WORK, BUT RATHER TEACH THEM TO LONG FOR THE ENDLESS IMMENSITY OF THE SEA.” —ANTOINE DE SAINT-EXUPERY The world’s talent at your fingertips
“TO PROVIDE A FREE WORLD-CLASS EDUCATION TO ANYONE ANYWHERE” “TO MAKE PEOPLE HAPPY” “THE END OF SOFTWARE” The world’s talent at your fingertips
SAFEGUARD THE CULTURE The world’s talent at your fingertips
! REMEMBER People leave managers, not companies. The world’s talent at your fingertips
THE ULTIMATE CULTURE FORMULA INTRODUCE THESE 5 ELEMENTS INTO YOUR COMPANY: GROWTH Opportunities to learn new skills. HAPPINESS Work is better with friends. ABUNDANCE Living a rich lifestyle at work. SIGNIFICANCE Support an ideal that rallies your workers. MEANING Working towards a big goal. Let social contagion take root. Nurture it through the managers. Set an expectation of high performance. Pygmalion Effect. SAFEGUARD YOUR CULTURE It is what will help you recruit and retain talent! The world’s talent at your fingertips
OKAY, JIM. ALL THAT BEING SAID, WHAT IS THE FIRST THING I SHOULD DO TO BUILD A GREAT COMPANY CULTURE? The world’s talent at your fingertips
START SETTING HIGH EXPECTATIONS! The world’s talent at your fingertips
I GOTTA TALK TO JIM STROUD! JIM STROUD Senior Director RPO Recruitment Strategies & Support Randstad Sourceright AUTHOR OF: Resume Forensics: How To Find Free Resumes and Passive Candidates On Google createspace.com/4228076 Content Is the New Sourcing: Strategies for Attracting and Engaging Passive Candidates createspace.com/4693823 ! EMAIL: jim.stroud@randstadsourceright.com LINKEDIN: www.linkedin.com/in/jimstroud TWITTER: @jimstroud The world’s talent at your fingertips
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