Beyond Compensation: Why Employees' Social Consciousness Matters in Hiring and Retention

Hiring and retaining talent in today's competitive market has become increasingly challenging. While offering competitive compensation, meaningful work, and mentorship opportunities are important, companies seeking to stand out and attract prospective employees should also consider appealing to their social consciousness. Not only does this approach boost employee engagement, but it also benefits the business, as it draws in like-minded individuals who are motivated by more than just monetary rewards.

To differentiate your company from others solely focused on financial incentives, here are seven tips to make a lasting impression:

1. Embrace Corporate Social Responsibility (CSR):

Employees are seeking more than just profitability from their workplace. They desire a company that takes responsibility for its actions towards employees, stakeholders, and communities. By demonstrating responsible behaviour, such as environmental protection, a company attracts individuals with valuable skills like innovation, leadership, and teamwork. Moreover, treating employees responsibly minimizes costly turnover. Being a good corporate citizen sets a company apart for the right reasons and contributes to its differentiation.

2. Go Beyond Greenwashing:

Genuine commitment to CSR starts from the top. Company leaders must drive this initiative with sincerity rather than as a superficial means to increase profitability. Greenwashing tactics are transparent and can be easily recognized by employees who are drawn to authentic corporate social responsibility. While increased profitability may naturally follow, companies embracing CSR do so for the right reasons.

3. Strategic Charitable Donations:

Donating to charities that align with your business's values is wise. This reinforces your company's mission and values and sends a powerful message about what your organization stands for. For instance, supporting a literacy initiative would be meaningful if your business operates in the training or education sector. Engaging in a company-wide discussion or forming a dedicated charitable committee promotes inclusiveness within the organization.

4. Foster Employee Pride:

Employees who are proud of their company's values tend to attract like-minded individuals and actively promote their company to friends and family. This internal recruitment mindset ensures a surplus of potential candidates, even in a competitive job market. By fostering pride in the workplace, companies create a desirable and happier environment over time.

5. Leverage Charity for Brand Building:

When employees are proud of their workplace, they naturally become brand ambassadors. Their pride and enthusiasm help attract future talent while also retaining a vocal and engaged workforce. This amplifies the impact of employees' efforts and makes their work more meaningful.

6. Addressing Employee Misalignment:

Engaging in charitable efforts within the company can create a positive atmosphere, but it may also expose individuals who are not aligned with the company's values. Employees who show resistance or disinterest in participating in these initiatives should either embrace the cause or consider moving on from the organization. Over time, the office becomes a desirable and happier workplace with a workforce fully invested in the company's values.

7. Explore Becoming a B Corporation:

Companies seeking to align corporate profitability with social and environmental issues can consider becoming a B Corporation. By pursuing this certification, businesses showcase their commitment to social responsibility, leading to competitive advantages in promoting their products, processes, and workforce alignment. Moreover, customers who share these values often align themselves with B Corps.

Transforming an office environment and culture takes time and commitment from company leadership. It is crucial to support causes or charities that align with your business or contribute to the community in which you operate. Over time, you will attract a particular type of employee who becomes a passionate advocate for your business and brand. These individuals will care deeply about your company's success, becoming your biggest promoters and defenders. As a result, your company will become an enviable and desirable place to work.