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Talent retention at it’s best!

With 95% retention rate, this company has a WeCulture; they just don’t know it yet.

“You must recruit well to retain well” is one of the core beliefs in the American company, Location Labs, which has a retention rate of 95% throughout the entire company, and never fired a single employee.

Core Values and Recruitment

To understand how Location Labs manages a 95% talent retention rate, and understand the link between Location Labs and WeCulture, we firstly need to look into the WeCulture framework.

WeCulture is built on a foundation of processes that help companies retain and attract talent, while driving results, and reducing costs of recruitment and attrition. The processes are anchored in identification of the company core values, to build a clear identity that engages and motivates employees.

In the article below, by First Round Review, you clearly see how Location Labs focuses on core factors such as identifying the company Core Values and establishing a tailored recruitment process, to ensure the people they hire fit into their specific business culture. Focus is not on recruiting the people with the biggest skill sets – but the ones with most potential, who possess values that align with the company’s core values.

“Know your strengths. Know your weaknesses. Know your true culture. And then make sure you communicate it all upfront”

Location Labs focuses on identifying their workplace culture, strengths, weaknesses, and understanding the skills and motivation of their top performers. This helps them identify true talent, or diamonds in the rough, when they hire new talent for their teams. The WeCulture framework is built on the same beliefs: you can only hire suitable talent to strengthen your business, if you understand the true culture of your company.

When implementing WeCulture, we focus on identifying Core Values of the company and matching them with the Core Qualities of the existing talent, thus making it easier to benchmark the qualities to look for, when hiring new talent.

When mapping Core Qualities, factors such as Intelligence, Communication Skills, Thought Processes and Drive are the main qualities we screen for, grading them with tangible scales to make the evaluation process during recruitment as quantifiable and comparable as possible.

“Interview for values” is another of Location Labs’ core beliefs that clearly shows how they embody the WeCulture framework, without even knowing it. Their company values are closely tied to their recruitment process which is an intrinsic part of WeCulture and a proven step towards building strong teams, that drive companies towards success.

Employee Engagement

Another clear parallel between the WeCulture framework and the successful Location Labs, is their belief in the sense of community and team spirit. The belief of “Your Office Has to Feel Like a Community” is closely linked to the WeCulture pillars of “Pedal the Bike” and “Be Positive”. The importance of establishing a sense of connectivity and facilitating an open and welcoming environment is fundamental, supporting the empowerment of the employees and driving motivation through a feeling of ownership and belonging.

All in all, there is a clear link to WeCulture in Location Labs’ operational procedures and business success.

Have a read through the original article by First Round Review, find the link below, and see the details on how they work towards building a successful company from the inside out, by focusing on their Core Values, Recruitment Processes and Employee Engagement.

https://review.firstround.com/this-company-retains-95-percent-of-its-employees-heres-its-secret

Thanks for tuning in!

If this article made you curious about me and my work, please feel free to contact me and I’ll be happy to have a virtual coffee with you! Cheers – Sarah

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