Workers increasingly want their employer to have values

In today’s competitive job market, company values have become essential for attracting and retaining top talent. Employees are demanding more than just a paycheck; they want to work somewhere that aligns with their beliefs and values. As a result, companies must demonstrate a clear set of values to stand out from the competition and create an attractive atmosphere for workers.

Values provide a distinct purpose for the organization and serve as a guiding light that helps employees focus on achieving shared goals. They let potential hires know what is important to the company, how they will be treated, and what sort of work culture to expect. For instance, an emphasis on customer service or sustainability may be attractive to job seekers looking for a sense of purpose in their work: they know their efforts contribute to something larger than themselves.

A study by LinkedIn, the world’s largest professional network which will mark its 20th anniversary next month, has found that company values are rising in importance for professionals across the globe. According to the research, 59% of respondents in Europe stated that they would not work for an organization that does not share their values, with 55% reporting that even a pay increase would not change their minds.

The study highlights the growing importance of company values in attracting and retaining professionals, with 68% of workers in the UK, France, Germany and Ireland prioritizing organizations that share their values. The figure rises to 87% for workers in the US and 85% for those in Brazil. This trend is driven primarily by younger generations, who, in the face of ongoing economic uncertainty, are willing to leave jobs in search of companies that better align with their values, such as those that prioritize environmental sustainability or ethical business practices.

Alexander Matjanec, founder of Wyshbox—a life insurer—believes it is essential for companies to show potential recruits that their claims of social justice and equality are not just words on paper, but instead backed up by tangible efforts and monetary investments. “As individuals and as a company, we believe that everyone deserves equality and respect regardless of race, nationality, gender, sexuality, or class,” Matjanec said by way of a representative. “Our employees understand we will continue to use our resources to seek and support opportunities for change.”

Matjanec’s view is interesting because it emphasizes the need for companies to go beyond simply displaying values on a page. Instead, they must live out their values and commit to social justice, diversity, and inclusion to attract the best talent. After all, a robust set of core values that everyone can believe in helps create a sense of camaraderie and loyalty: strong values effectuate mission-driven organizations.

But how do companies ensure their core values are authentically communicated and embedded in their culture? First, companies should integrate what they preach into their daily operations, providing chances for employees to get involved with important social causes or creating experiences that support workplace inclusion. Moreover, organizations must stay consistent in communicating values internally and externally while being open to feedback from staff on how those values are supported at work. Finally, rewarding personnel who live the company’s values is a surefire way of reinforcing meaningful behaviors that advance its mission.

Michael Kienle, VP of global talent acquisition at L’Oréal said in a statement, “Actions have always spoken louder than words...By sharing a common purpose and basing the company’s success on economic as well as environmental and societal performance, everyone within the company can participate in having a positive impact.”

Interestingly enough, LinkedIn data reveals a 154% increase in entry-level job ads featuring culture and values over the past two years. Job ads emphasizing work-life balance have increased by 65% during that time. Job postings that mention values such as culture, flexibility, and well-being now receive nearly three times more views and twice as many applications than they did two years ago.

Josh Graff, managing director of EMEA and LATAM at LinkedIn, emphasizes the growing importance of company values as a survival issue for organizations. He said, in a statement, “Company values will increasingly become a survival issue for organizations. Those demonstrating a clear commitment to their values will attract and retain top talent and benefit from a motivated workforce, which is even more crucial in a tight labour market.”

Graff’s view is interesting because it underlines the competitive advantage companies with strong values can enjoy in today’s job market. This is a message that all employers should be paying attention to as they strive to build workplaces that attract and retain top talent. Graff added, “Leaders, be prepared: one of the top questions on candidates’ minds is how you live your values. They will ask about this in interviews and want evidence to support your answer. Proving that you walk the talk is a deal-breaker.”

This sentiment is shared by Renen Hallak, CEO of VAST Data, one of the world’s fastest-growing data infrastructure companies, according to the firm’s statistics. The reason for growth? Unwaveringly adhering to core values, both internally and externally, inferred Hallak. By way of a representative, he said, “Employees are encouraged to grow beyond the confines of their job description or role.” Hallak highlighted the necessity of collective teamwork on ideation, challenging assumptions and reframing the scope of issues. “Our employees and prospects are clear that creative philosophy is as fundamental as the air we breathe”, he concluded, which suggests that values should penetrate every layer of an organization.

So, in summary, it’s clear that company values are becoming increasingly essential for attracting and retaining talent. As a result, professionals are looking for organizations that can demonstrate a genuine commitment to their values as they become integral to the job search process. As such, leaders must ensure they communicate their core values clearly and walk the talk when exemplifying them. Only then will they be able to stand out from the competition and build a motivated, high-performing workforce.