2023 Talent Acquisition Trends: Rise of Company Culture (Part Three)

Feb 9, 2023

In this six-part series, we explore some of the talent acquisition trends to expect in 2023. A shifting job market has changed the way people think about their careers and progression opportunities, putting more power in the hands of the employer. As you explore these trends, consider how you can adjust your company’s recruiting and hiring practices to adapt.

Company culture has been a highly discussed point in the recent past, as workers look for organizations that align with their personal values and professional goals. But some companies have failed to put culture on the front burner, while others find it challenging to create a positive company culture when employees work remotely.

What is Company Culture?

Let’s dive right in: What is company culture, anyway? If you ask 10 different people that question, you might get 10 different answers. But ultimately, the culture of a business includes its informal and formal systems, values, and behaviors that work together to create the customer and employee experience.

If you walked into a business today, your experience would indicate the overall culture. In one office, you might get a friendly greeting from a receptionist. In another, you might check in on a tablet and wait for someone to notice or acknowledge you. Some workplaces have friendly atmospheres, where employees chat with one another and enjoy the company. Others are quiet and fast-paced, with team members working fervently at their desks.

Company culture starts at the top, but it’s maintained by the members of the workforce. Some of the key variables that influence workplace culture include:

  • How employees communicate with one another
  • Recognition and celebration methods
  • The processes of recruiting, hiring, onboarding, and termination
  • How managers make decisions

Why Does Company Culture Matter?

The culture of your business matters for a lot of reasons, the first (and arguably most important) of which is the atmosphere for employees. This feeds into the performance of your workforce in several key areas, including financial returns and service.

Employee satisfaction translates to better efficiency, productivity, and creativity. Additionally, happy employees are more likely to give better service to customers. When a company’s culture focuses on inclusion, employees are more likely to speak up and share their ideas, fueling innovation.

By contrast, younger employees are over 10 times more likely to leave a job with a company that doesn’t align with their desires for purpose. A purposeful culture creates more than just jobs – employees of the company feel proud of the work they do and the role they play overall. Other vital aspects of a strong culture include connection and support.

Culture and Recruiting Efforts

Whether your company has all of its employees in the office, working remote, or on some type of hybrid schedule, the culture matters. Adapting to more remote work has proven challenging for some, especially in maintaining a positive company culture. But one thing is for certain: Your company culture will play a significant role in hiring and recruiting efforts.

Online review sites allow potential new hires to compare employers and decide which company best aligns with their goals. Investing in your culture can lead to better reviews, which will only help as you find and bring on new hires.

If you want to get a sense of what the vibe is like in your office, enlist an outsider to walk through and observe their surroundings. You can also request feedback from the workforce, including what changes they would make to build a more positive culture. By investing in the needs and desires of your employees, you can strengthen your business and improve your hiring efforts.

Missed one of the other posts? Here’s what we already covered:

Make Recruiting and Onboarding Easy

See for yourself! Fill out the form to start a trial today and see how ApplicantStack can improve your hiring and onboarding processes.