Attract, Retain, & Grow Your Brand with Top Talent – Employer Branding
I join an organization full of enthusiasm, and I get to know that I am not going to work for the department I was hired for. This particular department say A, has no active projects which will require my contribution to the already existing teams. Since the management has hired me they think of allocating me to another department. I am persistent not to work for this new dept. say B, I was clear on this point from the very beginning, even while I was being interviewed. After I convey my concern to the higher management to no avail, I decide to give my best in this dept. B and start looking out for a job.
As a fresher, hired in a multinational firm I thoroughly enjoyed the induction period. It showed me what my company stands for, its vision, mission, & values and how I will be an important asset here. After a week-long induction I joined the department for which I was hired. After working for two weeks I realized whatever was taught to me during my induction was only on paper. The actual picture is completely different inside the company. The internal environment does not function on equality, & balance of work and life. The managers do not take care of my needs and when I do things on my own, I am bashed. Enough of it, I will try to give my best here and will start looking out for another job.
What we saw above are the classic cases of what happens when the expectation levels are not set between the recruiter and a prospective employee.
As per a Global Study, attrition rate in India is 14% (as compared to global 11.20% and 13.81% in Asia). 92% of firms face challenges in attracting hires with critical skills & 75% face challenge in retaining high performance set.
So, where is the problem arising from? It’s definitely the mismatch at a very basic level of expectation setting.
Two issues that the recruiters face these days.
1. Hiring high skill set employees
2. If hired, retaining that talent inside the company
Two main issue employees face, and end up switching organization
1. No clarity about the career path/ stagnated growth
2. Compensation & Benefit structures
What are they seeking?
1. Top Talent at a decent cost
2. Retaining this talent
1. Good career growth
2. Interesting and informative people to work around
3. Good Compensation & Benefits structure
4. Leadership opportunities
5. Good work life balance
So while the list of what the employees want, can go long, recruiters are always interested in hiring and retaining the best of talent.
Where does it all go wrong?
The recruitment processes in Indian context follows a defined path, at least during the campus recruitments
1. An association between the placement committees and company recruiters is established
2. Company Recruiters hold the pre- placement talk
3. Interested/ Not Interested students apply for the sake of getting a job
4. Recruiters make a decision after interviewing a candidate for 20 minutes
5. Many students end up getting hired for the wrong reasons
6. Once inside the company, the students start looking out for better job opportunities hence, enforcing huge costs on the company’s shoulders.
Imagine a situation wherein
1. Only students who are interested in a particular company apply
2. Recruiters know about the interest levels of students in their brand
3. There is a basic level of expectation setting
4. Students are aware of the career path to be followed within that company
5 . Students are able to answer genuinely why they want to join a particular company (and not the crammed up answers before the interview sessions)
The need of the hour for the Recruiters is to:
1. Make sure that the students they hire are actually interested in their company.
2. Have clear roles in their mind while hiring the candidate
3. Be in touch with the departments for which the hiring is done (reduces the uneasiness later)
4. Get a genuine answer from the students for the question “Why you should join our company”?
This is where Employer Branding comes into picture. There is always a gap between the recruiters and the prospective employees and reducing that gap has become the need of the hour. The concept of Employer Branding is widely used in the western countries but is developing at its own pace in India.
As a recruiter, the idea is to be open and frank about your offerings and as an employee, you have to have, I repeat have to be clear about what you want to go for.
Some of the effects of Employer Branding can be:
1. Alignment of vision/ values- So no more gap between the induction and actual working!
2. Improved recruitment process- You attract the best talent from all possible mediums!
3. Increased employee satisfaction- Employees will know about their contributions to the functioning of the company.
4. Improved productivity/ delivery- When satisfaction of the employee increases, the productivity increases.
5. Reduce attrition- Employees will be more satisfied with their career growth and C&B structure.
6. Effective use of annual HR budget- The students hired will stay for longer periods within the company.
The ultimate aim of the hiring should be to get those students on-board who will stay and take over leadership positions someday in the organizations, and thereby being an ultimate value add.