Survey shows that more than 60% of employers have a set of core values, but nearly 16% of employees don’t believe their company truly follows and upholds them
Frederick, Maryland – April 14, 2020 – Recruitment marketing leader iHire urges employers to embrace core values as they navigate uncertain times. According to the company’s 2020 Core Values in the Workplace Survey, more than 60% of employers have a set of core values; however, nearly 16% of employees don’t believe their company truly follows and upholds them.
Defined as a set of principles or fundamental beliefs that guide a company and its people toward a common mission or goal, core values serve as a foundation for everything an organization does, according to iHire. Adhering to these principles is especially important when making critical business decisions, handling crises, and adjusting to unfamiliar social and economic situations – like the COVID-19 pandemic.
Key findings from iHire’s 2020 Core Values in the Workplace survey include:
- Working for a company with core values is a priority for three-quarters of respondents. 75.5% of employees said it’s “very important” to work for an organization with a set of core values, while 20.1% said it’s “somewhat important.” Just 3.3% and 1.1% answered “neutral/neither important nor unimportant” and “not important at all,” respectively.
- A majority of employers (62%) have a set of core values, according to their employees. In contrast, 26.1% of employees said their most recent employer does not have a set of core values, while 12% said they were “unsure.”
- Having a set of core values doesn’t necessarily mean an employer actually follows them. Nearly 16% of respondents whose employer has a set of guiding principles don’t think they are upheld. On the other hand, 38.3% said their company’s core values are followed “very closely,” 43% said “somewhat closely,” and 2.8% said they were “unsure.”
- Organizations who have and uphold their core values are weaving them into their culture and everyday initiatives in the following ways (participants could select all applicable answers, so percentages add up to a sum greater than 100%):
- Values are featured on the company’s website: 39%
- Values are included in internal collateral and communications, such as newsletters, emails, “all-hands” meetings, and handbooks: 38.2%
- Values are displayed around the workplace with signage and posters – there are reminders everywhere: 35.3%
- Values are taught and enforced in onboarding and training: 35.3%
- Values drive how the company hires, promotes, recognizes, rewards, and even fires employees: 25.7%
- Values are featured on the company’s social media sites: 23.5%
“Now more than ever, employers must turn to core values to weather one of the most challenging business climates we’ve experienced in history,” said Steve Flook, iHire’s President and CEO. “Although just shy of 16% of employees don’t believe their employer upholds their core values, this is a significant number. As a company’s foundation, core values must be a living, breathing part of your organization. iHire encourages all employers to examine their core values – or establish a set if they do not have one already – to help them make the best possible decisions and find some solace during these challenging times.”
To learn more about iHire’s 2020 Core Values in the Workplace Survey, visit: https://go.ihire.com/55jd.
183 active and passive job seekers from across iHire’s 56 industry-specific talent communities responded to iHire’s Core Values in the Workplace Survey in January 2020.
iHire is a leading career-oriented platform that brings candidates and employers together in 56 industry-focused communities. We believe that by narrowing job seekers’ and employers’ searches within a specific industry, we can connect high-quality talent with the right opportunities faster, easier, and more effectively than a general job board. Everyone deserves to find work that is fulfilling, inspiring, and meaningful. Since 1999, we’ve combined cutting-edge technology with our expertise in the recruitment space and the invaluable insights of our members to achieve just that. Visit www.ihire.com for more information.