During the recession of the late 2000s, employers held all the power. Job seekers struggled to find opportunities in a market with too many applicants and not enough work.
Today, however, potential employees enjoy more power than they have since the 1990s. According to recent research from Willis Towers Watson, more than half of companies around the world are struggling to retain their best employees. Companies in every industry are searching high and low for the right candidates, pulling out all the stops to attract and keep top talent.
Now that employees have the upper hand, the top performers have the luxury of choice when they want to make a move — but they’ve learned that many companies aren’t what they appear to be. Some promise great benefits and then chastise employees who try to use those perks. Others boast high salaries and then insist that “team player” means working nights and weekends. With so much muck to sift through, how can job seekers find employers who truly value their skills and treat them with respect?
Just as companies scrutinize résumés and online profiles, employees should carefully evaluate potential employers before committing to a position and a salary. By focusing on three characteristics of great companies to work for, applicants can weed out the pretenders and find the right fit.
1. Their products (not the perks) are the priority.
Sounds odd, but when you’re evaluating offers, the quality of a company’s products is a better indicator than a slew of tantalizing “benefits.” Obviously, the best scenario is to land a job where the products and the benefits are equally excellent, but don’t let the promise of “unlimited vacation time” and on-site yoga blur your vision.
Strive to work for companies that not only create great office environments but also produce high-quality products and services. Companies that take pride in their products tend to take pride in other areas, like employee satisfaction, and they will do whatever it takes to keep top producers happy through meaningful rewards, not gimmicks.
And the rewards are a two-way street. If you’re enthusiastic about the company’s achievements before you’ve even started working there, you’ll be a better asset. Smart business owners want employees who believe in their products. “Your product is the reason your business exists,” said Ravi Sahu, CEO and founder of Strayos. “Why would you waste your time trying to get everyone to read your listing, when you could be talking to people who share your passion?”
2. They instill a sense of purpose in their employees.
Dedicated employees receive more than a paycheck. Maritz Chief Behavioral Officer Charlotte Blank believes the best employees feel a sense of purpose at the office. Her company, in conjunction with the Incentive Research Foundation, recently performed a biometric testing study that showed greater emotional preference for noncash incentives.
“Contribution recognition is a crucial component of employee engagement,” she told Switch & Shift. “When it comes to human nature, tangible, experiential, and alternative rewards trigger positive feelings that cash just can’t.”
The definition of purpose varies from person to person. Some people see purpose as a challenge, so they want to work for companies that provide steep tests for their skills. Others view purpose as a moral responsibility, so they opt to work for companies solving the problems of the world. Potential employees should identify their personal passions and seek companies that value those passions.
3. They support charities.
Companies that actively promote charitable giving and volunteering reveal many good things about themselves. These firms show that they understand their place in the world beyond simply delivering dividends to shareholders, and they provide outlets for employees to contribute their time and talents to the greater good.
Charitable giving may also indicate that a company is financially stable — an important criterion for someone deciding where to work. When businesses tighten the purse strings, nonessential expenses like matching charitable donations are the first to go. (Pro tip: If the free coffee disappears, start polishing that CV.)
Don’t settle for a company that just dabbles in a single charity program. Find a company that empowers its workers to give back to their favorite causes.
“Charitable giving opportunities are important in engaging employees in a changing workplace,” said Liz Bardetti, a marketing guru. “Employers need to recognize the importance of staying on top of what employees want so you can constantly reinvent your strategy.”
Kegs and ping-pong tables in the break room might be cool, but small perks don’t tell the whole story. Companies with great products, clear purposes, and charitable leaders make the best employers. Workers on the prowl for new positions should consider these subtle factors before making a switch.
William Arruda is the cofounder of CareerBlast and creator of the complete LinkedIn quiz that helps you evaluate your LinkedIn profile and networking strategy.
