Business's today are well aware of the impact of a strong Employer Brand on the bottom-line.
It is known that 65% of operating costs come from human resource costs, so managing these down make you immediately more profitable. For this reason, it is important to understand that margin enhancement actually starts with your human resource attraction and retention strategy - your Employer Branding.
So what is an Employer Brand? Just like customers and their relationship with your consumer brand, your Employer Brand represents the relationship that you have with your current and future employees.
Your Employer Brand is not about logos and letter heads; Employer Branding is about the reputation of you the employer and the reality of your reputation when employees take up employment with you. General studies show that 65% of candidates are attracted to an employer because of the brand image, while the same study shows that 62% of employees leave an organisation because of the inconsistency of the brand image and the reality experienced once employed.
Employees today are choosing to work for reputable, fair and considered employers who value their employees. The employee is judicious about the company's espoused employee experience and inquires hard about the reality of this experience.
So what's the cost to your business? Important to an employee is the organisation's employee/employer relationship. Important to the employer, however, is the length of time it takes before the new employee is returning the opportunity and performance value back to the business.
For some jobs it can take months to return value, and for those employees who turnover within one year, your value yield for opportunity and performance is very small, zero or possibly in deficit. So making sure that your Employer Brand is attracting and retaining the right employees who will perform, commit and remain loyal is cost effective to your business.
To prevent losing your staff to your competitors, be vigilant in measuring and understanding your human assets and your Employer Brand. Thus, learn the capital value of your staff and grow and environment that inhibits turnover and enhances performance. Aim to be an employer where potential employees are attracted to work for you and existing staff remain loyal and perform for the good of the whole business.
Pohlen Partners approach is to measure, analyse and position your Employer Brand to the job market where you will attract the right people with the right skills in the shortest period of time. Pohlen Kean can assist you to ensure consistency between your brand and the reality of the job so that you will optimise your workforce and turn your operating costs into shareholder profit.
For further information on the services Pohlen Partners offers in Employer Branding please contact Robyn Webb on 09 357 0570