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Why a Company’s Purpose is Crucial when recruiting highly demanded candidates

12/06/2018

As mentioned in our article How Companies Can Face the Gaping Gap in the Danish Job Market, the Danish digital job market is in a significant position where the unemployment rate is close to non-existing and the demand for digital candidates has reached its high. This has placed Danish companies in an intensified competition with one another to attract the highly demanded candidates. One important and crucial way a company can ensure to attract these candidates –  is to have a well-established purpose.

According to a millennial report, millennial candidates are less motivated by salaries, and more motivated by social behavior and the feeling of making a difference through their work. In fact, the survey shows that 6 out of 10 millennial candidates choose their employer based on the feeling, that they will “serve a purpose” through a respective job position.  Even further, the survey shows that 71 % of these candidates will stay at least another year within their work place, if they know what their workplace’s purpose is and how it differs from other companies. Conclusively, this survey stresses how important it is for millennial candidates that companies have a well-established purpose, when these candidates are in consideration of a new work place. This survey emphasizes out belief that a company’s purpose is key to attract highly demanded candidates. Even more so, because the survey also points out that 37% of Danish companies admit that they could have done more to attract candidates in their failed recruitment processes. One important thing that companies can do, is to consider whether or not their purpose is adequate to even attract the candidates.

Here is our advice on what considerations companies should make in establishing an adequate purpose:

  • The How
    How do you position your company compared to the rest of the world? Meaning why does your company exist and what makes it unique?

 

  • The What
    What does your company contribute with to the world? Meaning what does your company contribute with that other companies can’t deliver?

 

  • The Match
    Lastly, it is important that the company’s social responsibility is clear. This will make it easy for candidates to determine whether or not, the company’s social responsibility matches the candidates’ beliefs.

 

With the 3 above-mentioned considerations, companies will have taken the first towards a well-established purpose – and with a well-established purpose – companies will be able to attract candidates that eventually will result in more invested and motivated employees that feel they “serve a purpose” through their work – since they identify with the company’s purpose. Fact is, that candidates today, value a sense of “life content” through their work, more than salaries and perks that a potential work place offers.

This is why we on a daily basis recommend our clients to make sure to have a well-established purpose, since a well-established purpose could be the crucial reason that candidates choose a given company as their future work place. On top of that, is our experience is that companies will end up with passionate employees with the right fit.

If you think something has been overlooked or want to share any interesting thoughts regarding this subject, you are more than welcome to share it with us!

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