For
those late to the party, those two words up there might affect
you in more ways than you know. Ah, not the 'There yet"....the other
two.."Employer Brand". :) You are/need to be super involved - As an
employer, as a job seeker & even as a service provider to either of
the two. Seemingly innocent, these two words could easily get lost among any
other new age management jargon you could think of. But let me pick them out,
set them separately on the table for you, while we learn why/how they're
important to you today.
Gone are the
days when all that was spoken about company descriptions belonged in the 'About
Us' section of a job description or just on the company website under
'Vision, Mission, Values, etcetera..' Job/career seekers seek more now. And
this does not just refer just to the salaries on offer.
Organizations
now understand that
just like with other premium investments close to their hearts like expansion,
sales & marketing, they also have to 'sell' to prospective
employees in this day & age of the enlightened job seeker & the
expectant employee. Talent is shrinking with the advent of hordes of
entrepreneurs & businesses who hire everyday by dipping into the same pool.
And since many of these companies are doing their fair bit in being 'Great Places to
Work', sharing with the world - their culture, perks, flexi-work
options, work life balance, & other interesting practices to keep their
employees happy, others have to follow suit. Big brands, fat
paychecks, now aren't the only tick marks on the checklist. I was
talking to someone the other day who recently quit a high paying job with a
bank to work with a startup who just 'had the thing nailed down to an art',
basically shrugging off the shackles, & asking for more than humane
conditions to work. Just like putting in efforts to attract+retain
customers, companies now have to roll out a red carpet approach to prospective
/ current employees too.
What
is an Employer Brand?:
In layman terms,
it is an employer's resumé for the applicant's review! And for employees
already within the system, it is a company's scorecard, continually being
assessed & adjudged by employees, just like employees are appraised
regularly by their employers.
A walk-through
of the indispensable merits employer branding brings to the table is a real eye
opener. It shows that it attracts/retains talent with factors above &
beyond salaries & HR benefits, & is much deeper than that, having a
positive retaining/productive impact over very, many other areas in people
strategy at work., & yes, it is a thesis of what the company has on offer
as compared to a two line 'About Us' on their website or in a job description,
why people choose to work with who they choose to work with.
Here to
stay, Not a fad:
When Jack Welch
made Six Sigma a fundamental part of G.E's functioning almost 2 decades ago,
I'm sure he had the vision to see that it was indispensable & not
just a fashion statement/experiment. With the continuously evolving
workforce, emigrating global cultures, unorthodox hiring practices, advent of
millennials who look beyond just money - there is a sea change that is gearing
towards age old HR/management practices. And no amount of trying to make Noah's
ark to preserve the old will do any good. You need to surf the waves! And how. It
needs to be made into a way of life, just like crash diets don't work.
No,
thanks, we're good:
You think you're
able to attract talent easily, & don't need this? Think again. As a
company, you put thought, R & D, & whatnot into your products/services
right? After sales, you even take the pain to keep customer service on their
toes which deals with aggravated customers, gives them resolutions until they
are 'happy customers' who will buy again/continue to buy from you. So even if
you're able to attract talent, is that talent staying with you? Is your
employer brand delivering on its promise? The employer brand proposition also
needs ambassadors & executors, right from the CEO to the Manager. Employees
join on a great brand promise, but leave due to poor/incapable managers. But
you know that.
If I recently
parted ways with a brand, having made a purchase that totally failed to deliver
on it's promise, & was a bad judgement on my part, it reflects
poor/exaggerated/vague/insufficient marketing/advertising on their part &
they've lost a customer for life. The same applies to a company/employer brand.
Are you sure you don't want to take the opportunity to communicate your brand
value & might I add, keep delivering on that promise. Don't promise them
Harleys & Gold bars if all you've got is a stocked pantry & a couch. :)
The
changing talent acquisition curve:
The talent
acquisition curve has been stuck on broken recruiting practices, with the
managerial pool only executing the bare minimum laid out calculatedly by top
management. But as markets get meaner, workforces (want to be) leaner,
recruiting faux pas' a no brainer, hiring with the same mediocre propositions
will stop getting you incredible talent. A consciously maintained, healthy
employer brand which is high on delivering on its brand promise, is the most
effective talent attraction tool. It will get you the real rock stars who will
define your company's success, other than retaining the high performers. In
essence, reducing/eliminating the lead time taken in attracting/ getting
prospects on board as they need no hand-holding & can self-induct by
envisioning/scripting their role in the organization more clearly, the employer
brand proposition is the secret sauce companies have been looking for.
Keep tuned in
for my next post which will discuss:
- The employer brand experience - Go big or go home
- Employer brand offerings V/S expectations.
- Success Stories
I would love to
hear from you, just what exactly your experience of your employer's brand was
pre joining & after. This could be talking about wins & fails both.
Until then!