Branding Branding has become an integral element in our daily lives. From deciding which brand of soft drink to purchase, to which restaurant to visit or sports shoes to buy, branding plays an influential role in our decision making. With the power of branding so persuasive, it is no surprise it also plays a role in which company we choose to work for.
The Power of Brands Who would you like to work for?
Influence of Corporate Brand on Employer Brand The strength of the corporate/ product brand has an immediate impact on the employer brand. An organisation with a weaker corporate/product brand will have to do a lot more work on its employer brand to attract and retain key talent.
What is Employer Branding? Employment branding is “the package of functional, economic and psychological benefits provided by employer and identified with the employing organisation” . (Barrow, in Corporate Executive Board, 2001). It communicates your identity as an organisation to others. It is the essence of what your organisation stands for and should specify the fundamental nature of the organisation. Essentially, it is the process of placing an image of being a “great place to work” in the minds of existing and prospective employees.
Defining your Employer Brand Alignment with Business Strategy • The ultimate purpose of the Employer Brand is to help enable the organisation deliver on its business strategy. • Strong linkage via the HR strategy: – Attracting and recruiting relevant people – Addressing shortages – Improving the retention rate – Improving employee engagement, commitment and performance
Employee Value Proposition At the heart of employment branding is the employee value proposition: The compelling and unique value of what the organisation offers to the employee . “ Brand images can be built around a variety of offerings, including: ‘a fun place to work’, ‘a place where people are invested in’ and ‘a company that cares for people’. Whatever the image projected by the employment brand, it must engage the hearts and minds of the target group. It should generate a vision of what is possible in this company – the ‘What’s in it for me?’ factor. It must also match the experience of existing employees” Source: Ann Sherry, “Put some branding Iron into Your Image, “ Business review Weekly (21 July 2000).
As skills shortages continue to test candidate sourcing and attraction strategies, and competition for the best possible staff remains high, the issue of employment branding continues to gain attention.
This war for the right talent is placing pressure on organisations to become an employer of choice.
Recruiting the right people is essential for any business success and is a significant competitive advantage.
A strong employer brand will help to differentiate your organisation in the marketplace and attract the best people.
All businesses are unique, so by identifying and communicating your organisation’s employer brand, you are more likely to attract candidates who are an ideal 'fit'.
Employees with the right 'fit' or match to your company's culture will be more likely to thrive in your organisation and are likely to have a higher retention potential.
When used successfully, a strong employment brand should lower turnover and reduce hiring costs. It should also, by association, increase productivity.
A strong employer brand creates a sense of pride in people working for the organisation.
Why Focus on Employer Branding? Dominant Work Values in Today’s Workforce Cohort Entered the Workforce Approximate Current Age Veterans 1950 or early1960 60+ Boomers 1965 - 1985 40-60 Xers 1985 - 2000 25-40 Nexters 2000 to present Under 25
Methodology Research Understanding the current offering Understanding the Brand Surveys Employee Suggestions Recruitment preferred supplier interviews New hire interviews Internal External Human Resources Corporate Social investment Integrate and formulate Employment Value Proposition Employment Branding Strategy Executive interviews Strategic & Transformation objectives
Structured interviews should be conducted with a number of preferred supplier recruitment agencies.
Companies should participate in a number of external surveys/ research initiatives in order to get an indication as to how employer brand is perceived in the market and positioning as an employer of choice. It also helps to benchmark the people management practices against other organizations so that companies could ensure continuous improvement.