Nearly 70% of employees said they would reconsider a job offer due to poor company culture, according to a Hibob report.
In today's tight labor market, salary is no longer enough to win over top talent, according to a Hibob report released on Wednesday. The majority (69%) of employees surveyed said they would reconsider a job offer if the current employees didn't seem happy in their positions, looked burned out, or if the company had high turnover rates, the report found.
Based on responses from 1,000 US employees, the report determined that more than 50% of today's working professionals are dissatisfied with their jobs. A competitive salary isn't the only component modern day workers search for, according to the report, as 56% of respondents ranked opportunities for growth as more important than salary.
SEE: Recruiting and hiring top talent: A guide for business leaders (free PDF) (TechRepublic)
Signs of poor company culture include limited transparency, complacency, high employee turnover, conflict amongst leadership, and an unclear company vision. Negative workplace culture can have detrimental effects on both the employee and company, with employees feeling burned out and employers seeing a less productive team.
"Poor culture and employee dissatisfaction are driving away more than two-thirds of candidates. In order to thrive in today's quitting economy, companies must create workplace experiences designed to retain today's workforce by promoting a clear work/life balance," Ronni Zehavi, CEO of Hibob, said in a press release. "While popular trends in perks have come and gone, culture and opportunity are key drivers of employee happiness and support collaboration and productivity. "
If a candidate does decide to take the job, companies must make a positive first impression, the report found: 64% of new hires said they are less likely to stay at a job after a negative onboarding experience.
Most job seekers base their opinions of a company on the information provided by the business itself, the report found. Candidates turn to the organization's website (32%), current employees (29%) and social media pages (19%) to learn about the company's culture. To land top talent, companies must cover their bases and promote a positive work experience for employees, according to the report.
For more, check out How to evaluate company culture during a job interview on TechRepublic.
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