Core Values of a company is key but how many companies really talk the talk and walk the walk?
‘Core values are indicative of a company’s culture. And research shows around 70% of people would turn down a job offer if they knew the culture was bad.
The affect’s similar when it comes to retention.’
Mr Gary Lai, Managing Director at Charterhouse Singapore, had a recent chat with the good folks at Hunted.
‘Retention at Charterhouse is affectionately described as “unusually good’.
And it’s no surprise that hanging onto top talent means they enjoyed a record year in 2015. And every consecutive year since.
The key to the company’s success begins with CH’s core values:
● Intelligent Insight
The latter two are arguably more relevant to the nature of the service Charterhouse provides. And the importance of equality speaks for itself.
So Gary and I mostly spoke about how important that first value is.
‘This core value is central to our success, which underpins everything we do, and in return has translated into a successful and established brand that our clients and candidates trust’.
The hiring strategy at Charterhouse is similar to Netflix and other successful companies: quality over quantity.
The idea’s to invest in people: from clients to candidates to Consultants.
To build teams of like-minded individuals who are passionate about recruitment. And to bring on board people who are capable of performing at a high level, with an equally high degree of autonomy.
Hiring strong performers doesn’t just contribute to a winning culture in the office: it bolsters the company’s reputation in the market as well. Because being renowned for taking on the best talent in the industry is priceless employer branding.
The result? Apart from four consecutive record breaking years, Charterhouse boast turnover at just a third of the industry average. Hence “unusually good retention”.
The longest serving team member’s been there for 15 years and counting. And on average, consultants are there for 3-4 years minimum.
So why’s retention so vital?
Because if you can outlast your competitors you’ll bill more; you and your market will know one another better; you’ll find growing your business is easier; and your career will take off accordingly.
And finding the right culture’s instrumental to doing so. But culture’s much more than just words on the wall. That’s just where it stems from. And there are a number of situations where actively seeking out a winning culture will benefit you.
When it comes to business development, focussing on companies whose core values not only reflect the interests of the candidates in your market, but also align with your own, will give you more common ground to build rapport over.
It’ll also make working with them infinitely more enjoyable, long term.’
Credits: to the Hunted Team for a swell article!
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