Originally published in In-Business Magazine, Australia
International Employer Brand Strategist and Chairman/CEO of Employer Brand International, Brett Minchington offers readers some insight and tips on how to maintain employer brand equity during the financial downturn.
Don't do this!
In the wash up of the shifting of financial markets over the past 12 months there have been massive layoffs by companies once seen as the 'poster child' of their industry where everyone wanted to work but only the top talent could get in. How times have changed in such a short period of time, these same organisations (and whole industries) who once enjoyed 'preferred employer' status are now off the list of talent looking to switch jobs or graduates looking to enter the job market for the first time.
It amazes me just how quickly brand equity can be eroded by actions taken so swiftly without any thought to the impact on the employer brand of the organisation.
International Employer Brand strategist and author, Brett Minchington MBA defines your employer brand as, “The image of your organisation as a great place to work as perceived by your internal (current employees) and external audience (active and passive candidates). To achieve sustainable growth in today’s climate companies must focus their collective efforts on developing their employer brand to attract and retain talent before their competitors do.
To build a best practice employer brand program Minchington recommends companies need to understand how their current employer brand is perceived by employees and candidates the company would like to convert into new hires. This should involve vigorous research to discover the key drivers of the employer brand, the employer value propositions, why employees choose to join the company and why they choose to leave.
Brett Minchington MBA shares with Alan Hosking how top organisations are attracting and retaining talent by building a strong employer brand
Over the past year there has been growing interest in employer branding. First and foremost what is an employer brand and how do you know it is working for you?
Your employer brand is “the image of your organization as a ‘great place to work’ in the minds of current employees and key stakeholders in the external market (active and passive candidates, clients, customers and other key stakeholders).”
Employer branding is therefore concerned with the attraction, engagement and retention initiatives targeted at enhancing a company's employer brand.
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