Defining and describing routine jobs and job profiles are harder than ever before, given the pace and extent of change in technology at the workplace in recent times. According to the World Economic Forum’s - The Future of Jobs Report 2018, the labor market is going to be transformed in the 2018-2022 period, making reskilling imperative. Majority of employers surveyed expect that, by 2022, the skills required to perform most of the current jobs will have shifted significantly. This is precisely why firms are rethinking their talent needs and their approach to recruitment. Companies are now recruiting for more than just functional skill sets and technical/domain expertise required. Recruiters are looking to hire candidates who can adapt to the evolving needs of the organization, learn and re-learn and grow with the organization as it grows, and project the right mindset towards change and growth at the workplace. Clearly, while skills and experience are still key factors, they are no longer the whole story when it comes to recruiting. Finding the right culture and psychographic fit for the organization is becoming the key to successful long-term hiring.
The benefits of ensuring a good cultural fit are many. Here are three ways in which the right organizational fit for an employee can benefit businesses in the long run.
1. increased efficiency levels
Just as people have personalities, organizations have their culture and core values. Companies that define their culture and vision clearly and hire talent that identifies with them, are able to derive value and output from their employees. By putting out their vision, mission and values clearly, companies are also able to attract candidates that feel aligned with those. The Mercer Global Talent Trends 2018 Study says, “Thriving employees are three times more likely to work for a company with a strong sense of purpose.” Consider the case of Zappos, the online shoe retailer, who have succeeded in establishing a strong company culture. And they actually screen every candidate they hire with a – “culture fit interview” to make sure both employees and the leaders are happy with the results.
2. reduced attrition costs
As per the Randstad Employer Brand Research 2019, the millennial generation of workers prefer interesting job content and tend to stick to jobs at companies that recognize their ability with substantial roles, meaty assignments and challenges that help them grow in their career. Employees who are aligned to their company’s goals are likely to have higher job engagement, and hence are also likely to stick around with the brand for a longer time. The longevity of an employee who is also a team player tends to impact the team’s efficiency and morale positively, which further adds to higher job engagement. Consider the case of Twitter which became a very popular employer brand in recent years. Employees loved working with other smart people on their team and there was a great sense of commitment and engagement amongst all hires, people just didn’t leave until the job was done. Such was the spirit at their offices. Innovative firms are adopting modern hiring techniques such as tech-enabled scientific assessment tools to find the right organizational fits who are easier to retain. Reducing the risk of bad hires and finding the right candidates not only adds to business productivity, but also saves the employee attrition cost to companies, which is estimated to range from 16-213% of an employee’s annual salary.
3. happier employees and satisfied customers
Employees who enjoy a shared vision with the brand end up being convinced of the common, larger organizational goals. The increased efficiency levels often translate into better outputs at work, better customer service and ultimately happier customers, partners and clients. Southwest Airlines has over several years, managed to buck the trend of domestic flights constantly struggling with poor customer service issues. Southwest employees are empowered to go the distance to make a customer feel valued and happy and this is reflected in the friendly service that customers enjoy.
soft skills are a must-have in the age of automation
According to LinkedIn’s Global Talent Trends report 2019, 91% of talent professionals agree that soft skills are very important to the future of recruitment and HR, while 80% agree that soft skills are increasingly important to company success. Attributes that make humans human such as – adaptability, empathy, and collaboration will be crucial for bringing value to modern job roles. Soft skills such as creativity and communication are some of the most in-demand skills in this time when artificial intelligence and machine learning are pervading almost all business functions. The ability to solve problems with creativity and innovation is not something that can easily be replicated by machines, and hence will be given preference while hiring candidates for modern organizations.
According to the LinkedIn Global Talent Trends report 2019, 38% of businesses expect to extend their workforce to new productivity-enhancing roles. The reshaping of job profiles requires a new surge of talent that has more to offer beyond the required qualification and functional skills sets. New-age firms which recognize that culture fit is one of the key drivers for effective hiring are able to design the right recruitment strategies to find the right talent match for their business.