What does it take to become a Best Place to Work and how can my organisation join the ranks? These questions attracted hundreds of attendees to Glassdoor’s Best Places to Work Tour, a half-day event dedicated to helping employers unlock the secrets to recruiting and retaining top talent and building amazing cultures in today’s fiercely competitive market. And on a brisk, sunny day at The May Fair Hotel in London, HR professionals from various industries gathered to learn the answers.
Through a series of presentations and dynamic panels led by Best Places to Work Tour event moderator and founder of Jobhop, Julie Bishop, attendees came to understand the shared traits of Best Places to Work, how they have achieved this prestigious award and the coveted tips for making the list. Here are a few highlights:
Being a Best Place to Work Pays Off— Literally
You probably already know that earning a spot on the Best Places to Work list can boost recruiting, retention and your brand, but did you know that it can also drive your bottom line? Lecturer of Finance at East Anglia’s Norwich Business School, George Daskalakis, kicked off the event by presenting exclusive findings from his recent study showing the financial impact of a Best Places to Work win.
Using Glassdoor’s data, this is the first study to reveal a strong link between a satisfied workforce —in the form of higher Glassdoor company ratings — and the financial performance of UK companies. Researchers identified that having a one-star higher rating on Glassdoor is related to almost 1% higher annual return on company assets, and that public companies experienced extra stock portfolio returns of up to 16% per annum. “For the first time in the UK, we have data that proves that keeping employees satisfied really is good for business,” said Daskalakis.
So how exactly do you improve employee satisfaction in order to reap those financial gains? It’s not all about salary, Daskalakis noted. Research has shown that employee satisfaction is driven by other key factors, including culture and values, senior leadership and career opportunities.
[Related: The Importance of Glassdoor for Candidate Attraction in 2018]
Secret Ingredients of a Brilliant Culture
Nando’s has such a distinct culture that the #28 Best Place to Work in the UK, where employees are considered family, even has its own language. Do you know what a Nandoca is? Well, it’s one of those friendly people who serve you at Nando’s. New hires are given a Nando’s ‘dictionary’ during induction and clothing allowance to buy tops that are then branded with the Nando’s logo, which sits right above the heart. The goal is to connect employees and remind them of the chicken chain’s guiding values: pride, passion, courage, integrity and most of all family.
Proudly sporting a pink Nando’s button down, Sam Goode, Talent Acquisition Manager at Nando’s, shared an innovative (and risky) employer branding campaign that ‘turned the brand inside out’. Employer reviews of Nando’s found on Glassdoor — the good, the bad and the ugly — were plastered all over the London tube. The goal was to give would-be Nandocas a taste of the distinct flavour of the Nando’s family, and what it’s really like to work at one of the UK’s busiest restaurants. “We saw a huge uplift in our careers page and it generated lots of excitement both internally and externally,” said Goode. “It was a really great way to engage with our employer and consumer brands.”
[Related: The Proven Value of Employer Brand]
How Facebook Recruits & Retains Star Talent
Not surprisingly, Facebook is constantly leveraging technology to create new ways of communicating with candidates and improving the candidate experience. What might surprise you is that the #4 Best Place to Work in the UK isn’t afraid to fail — and sometimes does. In order to improve, “companies have to be willing to take a risk,” said Caoimhe Shepherd, Employer Branding Manager at Facebook. She discussed her efforts to “lift the curtain” on Facebook’s legendary culture by helping to develop Facebook Live, a recruitment programme which enables candidates to instantly chat online with current employees and ask questions. And because relocation is a requirement for many new hires, Facebook developed a hugely popular 360 degree tour of their Dublin office. More recently, employees wore GoPros to capture a day in the life at the social media giant, which is still a work in progress, Shepherd admitted.
When it comes to retaining star talent, Facebook is committed to keeping employees engaged, happy and therefore productive. In fact, they have a formula for success: employees should love at least 70% of what they do — any less, and they often get bored and jump ship. Shepherd advised letting employees follow their interests, even if that means allowing a lateral move to a different role or team.
Facebook also trains managers to be supporters and coaches, rather than bosses who lead from the front. “Every employee at Facebook takes ownership,” said Shepherd. “Culture can’t be led by just one person.”
[Related: How to Recruit Informed Candidates at Scale]
Getting the Most Out of Glassdoor
Best Places to Work revealed how they use Glassdoor as part of their employer branding, recruitment and retention strategies. Here are a few winning tips:
1. Respond to reviews: It takes less time than you think to effectively respond to Glassdoor reviews. EasyJet dedicates just 10-15 minutes per day to replying to former and current employees who have shared their feedback. The key is doing it on a regular basis to avoid the dreaded ‘black hole’ of unanswered employee reviews and developing a negative reputation. And the ROI has been huge: EasyJet’s daily practice of responding to reviews has significantly improved their employee engagement and recruitment efforts.
2. Update profile: Regularly update your employer profile with photos, company updates, awards, customised tabs and review responses to boost your brand and attract top talent. Remember, 69% of job seekers are likely to apply to a job if the employer actively manages its brand. (1)
3. Use Glassdoor as a platform for listening — and improving: Best Places to Work agreed that by providing previously unavailable insights from candidates and employees, Glassdoor is an incredibly powerful and irreplaceable resource to have at their fingertips. Do more of what’s working well and don’t ignore negative reviews, they advised. Instead, turn less than favourable feedback into positive brand builders by responding and improving areas of weakness.
[Related: What You Can Measure on Glassdoor]
These are just a few of the top-level takeaways from the half-day event. If you want to hear even more expert insight and advice, register here to download the video recording of our livestream.
Learn More & Watch
Best Places to Work Tour Livestream Recording
(1) Glassdoor U.S. Site Survey, January 2016; *Updated from 94%, Glassdoor survey, October 2014