Research has been done and has been found that there is usually a positive correlation (It basically means, both have to increase at the same time) between company’s profit as well as worker’s satisfaction. What affects worker’s satisfaction and retention is the company’s culture.
It helps in attraction of good candidates
You will probably understand when a good candidate has your offer, as well as another company’s offer. Both offer packages are similar, with little discrepancies – a common situation for quality candidates. What is the distinguishing factor is your company’s culture, and how well it is being represented and communicated to your stakeholders.
This is even more important if your salary package is not market competitive. Your culture could be the deciding factor why quality candidates might reject the higher salary package over yours.
It helps in ensuring a good fit between the company and the potential new entrant
Regardless of how long your interview is, it is not long enough to define your culture or how you can alter the judgement from your interviewees. Candidate already has formed a perception about what this company is, it’s reputation and the culture and purpose of this company.
The preconceived information is attained from news articles, word of mouth and social media – and they are likely information disseminated by your very own employees who could be currently employed, and fully involved in the daily activities.
Hence, it is important to not only communicate your culture but to continuously reinforce your culture
Leaders actions and decisions reinforce the culture of the company. It influences the way people act and communicate with each other. Your existing employees will reinforce the company’s culture to the group of new entrants.
Ultimately, the culture that your company have assist in the employer branding - which makes you unique compared to your competitors. Your culture is then defined by your goals and objectives that your company have, or that leaders emphasize on their employees.