Three Corporate Cultures That Attract and Retain Talent

Carrie Buchwald

Friday, October 23, 2015

Finding the right individuals to join your organization is only initial part of the talent challenge; retaining them and encouraging their long term contribution is key to the competitive success of any business. A growing number of sectors have reported obstacles to both recruitment and retention, as the American labor force matures.

How big is the problem? The United States Bureau of Labor Statistics (BLS) reported 5.2 million skilled career openings in June 2015, which was 25% higher than available openings in the same period for 2013. The BLS also reported that 2.7 million workers left their employment positions voluntarily in June 2015, which was a movement rate increase of 36% compared to data collected two years ago.

So, how can businesses retain qualified personnel and skilled workers? In competitive markets where demand is greater than the availability of talented staff, salary is not enough. Employees are increasingly interested in benefits beyond the classic compensation model. They want a rich corporate culture, health and wellness packages, and lifestyle perks and benefits.

Companies with cultures that attract top talent often realize returns on their investment, with employees making a long term career commitment to the organization. We have identified three organizations that are continually recognized for their exceptional corporate culture and high business performance:

  1. Adobe Systems

Known worldwide as the top software developer and tool provider for creative projects, including web, video and graphic design, Adobe was among the ‘100 Best Companies to Work For’ in Fortune Magazine, and is frequently in the top 25 best companies recognized around the world by the employee survey.

Adobe has nearly 6,000 employees in the United States alone and offers employees opportunities to work worldwide, creating new and challenging career paths through its many business unit divisions.

Employee incentive programs instill trust and reward innovative ideas, in addition to excellent health and fitness benefits, flexible vacation time and cultural diversity in its global hiring practices. A robust schedule of fun staff events including ping pong championships, hiking and photography clubs build a social environment that is interesting and team oriented.

And, the investment in culture pays off in employee retention – less than 6% of employees at Adobe voluntarily sought new positions outside the organization in 2014.

  1. Google

Google does a great job of making their corporate culture accessible to both employees, prospective employees and the public. Employee culture is showcased openly to benefit both recruitment and public relations at the world’s largest search engine.

The “Life at Google” website provides pictures, comments and insight into the contests and corporate events hosted by Google for staff around the world. Not only does it showcase the diversity of the organization’s hiring practices, but it makes Google look like a fun place to work. The core values of the company are clearly presented, including corporate responsibility, ecologically sustainable business practices, education and community awareness.

In addition to sharing photos of staff and events, the design of the Google interior office space encourages creativity and innovation with an art centric theme. What is it like to work inside a Google office? You can explore an image gallery from their offices in New York (Manhattan),  the global headquarters office in Mountain View California, or in Dublin, Ireland.

Google ranked first on Fortune Magazine’s ‘100 Best Companies to Work For’ list for the sixth year in a row.

  1. Wegmans Food Markets

There are organizations outside of the internet and technology sector that successfully cultivate corporate environments and workplaces that retain happy, engaged employees. Wegmans Food Markets earned over $7.1 billion dollars in revenue in 2014 and employs 43,211 US employees. In 2014, the Rochester, New York-based company received 227,593 employment applications and inquiries and enjoys a very low 5% employee voluntary turnover rate.

One of the most successful perks offered to employees at Wegmans Food Markets is college tuition reimbursement, which makes the employer a top choice among young and aspiring career professionals. Part-time employees, full-time employees AND the children of full-time employees are all eligible to apply for the Wegmans employee scholarship program.

In addition to educational support, Wegmans is transparent about gender equity in its hiring practice with a 53% rate of female employment. The organization also allows for a condensed workweek, making it easier for family caregivers to balance employment, higher education and family responsibilities. The familial culture is communicated from the top down by CEO and founder Danny Wegman.

Wegmans Food Markets ranked seventh in the 2015 ‘100 Best Companies to Work For’.

Balancing the growth and development of employees, while providing a stimulating and socially engaging environment to work in are key factors that help contemporary organizations recruit and retain talented staff. Finding new methods of creating fulfilling careers and rewarding work environments will remain important for determining the growth and success of organizations in the future.

Carrie Buchwald, VP of Corporate Learning Solutions

 

Carrie Buchwald is the Vice President of Corporate Learning Solutions at Lake Forest Graduate School of Management (LFGSM). As a member of the Leadership Team at LFGSM, Carrie leads a sales and delivery team that provides flexible, customized learning with measurable business impact.

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