Why Better Employee Branding Equals Better Retention
Being able to recruit and retain the most talented individuals has always been a major factor driving any successful organization. As people switch between employers more frequently, a greater emphasis is now being placed on improving staff retention.
According to Deloitte, US businesses spent $1bn in 2017 on employee engagement, which underlines the value placed on a motivated workforce. The best way to engage the people working for you is for them to be aware of your values and what it is you stand for ethically. Employees who understand your operation will feel more of a part of it, and as a result, will be more likely to stay with you.
This makes employee branding a vital part of your business. If they understand what it is you stand for, they are far more likely to act as brand ambassadors, which brings even further benefits to you.
That may seem simple, but the evidence suggests that businesses are actually failing in that area. One recent study of technology professionals revealed that only 47% were aware of their company’s diversity statement. That’s a very basic company policy to be tripping up on, for more than half of your workforce to not know where you stand on diversity and inclusion.
The same survey revealed an even bigger drop off on the numbers who felt their organization had clear statements on age and disability discrimination. Only 32% agreed that there were clear policies regarding more mature-aged staff, while just 30% were aware of any statements on disability. Any business looking to become an attractive employer to the best talent should be looking at their internal branding and making sure their social responsibilities are at the heart of it.
Some of those poor statistics may simply be down to a lack of awareness around those statements existing, but while that doesn’t excuse the results, it does make them easier to correct. That comes down to better internal branding, and the best way to start is by making sure the recruitment process itself reflects your policies.
Having a strong ethical outlook is another way to ensure better levels of employee engagement. Most young workers today will be just as attracted by a company’s principles as they will by its business acumen. And that translates to external results, too. Research from Cone in 2017 revealed that 76% of people would refuse to use a company that supported beliefs that went against their own. So not only is a socially-engaged workforce essential to better recruitment practices and improved retention, but it also translates into sales.
When it comes to how you position and market yourself to your workforce, it’s important to have a clear strategy in place. Not only will it help you attract potential employees who are more likely to be a better cultural fit, but it will also inform the hiring process itself.
Use your company’s values to sell the organization to candidates, and promote the standards you uphold during onboarding and training so that your employees know where they stand. It’s easier to make people aware from the get-go than it is to send them on training courses that can just feel like an admin exercise.
In any small to medium sized business, you want staff to remain with you for the journey. It’s essential to boost productivity, and to foster the kind of working environment that not only makes people want to stay, but makes others want to join you.
Guest post courtesy of Kashif Naqshbandi. Kashif is the Chief Marketing Officer of Anderson Frank. He has over 20 years of experience within the recruitment industry.