Hiring new talent has never been more competitive. Holding onto your existing employees has never been so difficult. To attract and retain talent, you need to pay competitively, let them do meaningful work, and coach and mentor them to succeed. If you’re genuinely trying to differentiate your company to attract prospective employees, try appealing to their social consciousness. It is great for employee engagement, it’s excellent for business, and you’ll start attracting like-minded individuals to your company. Companies passionate about social causes or philanthropy tend to attract less mercenary employees and are typically motivated by more than the all-mighty dollar.
Here are seven tips if you’re looking at standing out in a crowd of companies that can only promise to pay you more than your last company:
Corporate Social Responsibility
Employees are looking for a workplace that is something that stands for more than just profitability. They are looking for a company that takes accountability for its actions related to its employees, stakeholders and the communities they’re involved in.
In a competitive labour market, employees are drawn to companies with a good track record for responsible behaviour, such as environmental protection. By being a good role model, a company will attract people who have skills such as innovativeness, leadership and the ability to work in teams. And by treating employees responsibly, costly employee turnover is minimized. It is also good for a business to stand out from the crowd—for the right reasons. Being a good corporate citizen can help a company differentiate itself. 1.
More Than Greenwashing
It’s a sentiment that starts from the top down. The leaders need to lead the initiative. Companies that engage in corporate social responsibility do so for the right reasons and not as an insincere mechanism of achieving more profitability. Greenwashing and its accompanying sentiment can be seen from a mile away. The employees attracted to this corporate social responsibility philosophy can see through it, too, if leadership is doing this for increased profitability. For many companies that hold themselves accountable to CSR, increased profitability is a normal byproduct.
Be Smart About Donating to a Charity
It’s wise to donate to charities that are meaningful to your business. It attaches more sentiment to your values as a company and sends a strong message of what your company and people believe in supporting. If your business is in the training or education marketplace, perhaps support an initiative that promotes literacy. If you are a company that builds or renovates homes, supporting a cause that addresses homelessness may make sense.
Putting this out to a company-wide discussion or dedicated charitable committee about what causes to support may also promote inclusiveness as an organization.
Being Proud of the Place You Work
Employees proud of what their companies stand for tend to attract like-minded individuals. They tend to tell friends and family about the great things their company is doing and often refer appropriate individuals. This internal recruitment mentality always manages to have a surplus of candidates, even in a tight employment market.
Charity Helps to Build Your Brand
Your employees will be proud of the place they work, but they’ll also take on the role of brand ambassadors. It will help attract future talent, but it also retains a vocal and robust workforce. It helps to make your employees’ efforts more meaningful.
Getting Rid of the Dead Wood in the Company
We had several charitable efforts in my last business that we were passionate about supporting. It created a positive vibe and enthusiasm around the office for the most part. A few employees didn’t want to participate or rolled their eyes when we had meetings about our cause. Those individuals either get on board with the cause or eventually left the company. Either way, the office becomes a desirable and happier workplace over time.
Look at Becoming a B Corporation
Companies looking to up their game and put their money where their mouth is, may want to explore becoming B-Corp. Companies looking at combining corporate profitability with social and environmental issues support may wish to explore this further. Several B-Corps have found it a real competitive advantage when promoting their products, processes, and workforce alignment. Many of their customers have aligned themselves as well.
An office environment can’t be transformed overnight. It takes a commitment from the top down. It’s essential to support a cause or charity congruent with your business or a cause within the community in which you work. Over time, you will start to see that you are recruiting a particular type of employee, and they will become raving fans of your business and ambassadors of your brand. They will care passionately about your business’ success. They will become your biggest promoters and your hugest defenders. You will become an enviable and desirable place to work.
About the Author
Through the bankruptcy of his first business, a strong balance sheet means nothing unless you can get the money out of your business and into your hands personally, tax efficiently, and creditor protected. Chris helps and coaches business owners to avoid a similar fate as he suffered in his first business.
Through several clever strategies, he illustrates how these little-known vehicles can get money out of your business efficiently, build your corporate brand and create a legacy through charitable means to help make a meaningful difference in the lives of others.
Also, he has seen the impact that mental health can have upon success within your business and your life and how the two are on a constant collision course. When Chris became aware that Entrepreneurs struggled with their mental health at more than twice the rate of average adults, he realized he wasn’t alone and made it his ambition to understand why and do something to help. His business, The Finish Line Group, aims to help support the entrepreneur’s financial, philanthropic, and emotional needs.
Chris’ Why Statement remains, “To openly communicate the lessons learned from my past so that others will thrive in their lives, minimize their setbacks and leave a positive and lasting legacy.”