With the pressure to cut costs and maintain or increase profit, now more than ever before, it’s crucial that businesses are hiring the right people for the right positions.
In an article put out by the Wall Street Journal last year, it’s clear that in order to create a more well-rounded brand – one that has tailored messages for its different audiences – companies must dig deeper and segment the broad target audience into subsets of customers. And, as just as important as it is to differentiate consumers of the brand, the same can be said when speaking about the internal personnel representing that brand.
In a new Employer Branding survey conducted by Randstad, when looking closer at what employees want from a prospective employer, commonalities like competitive salary, job security, workplace respect and recognition were verified in its findings. And, after surveying a diverse population of 7,000 employed and unemployed Americans, Randstad has uncovered some of the secrets that go into a strong employer brand and how companies can start attracting the top talent on the market.
- A Good Brand is a Social Brand
The first step for companies to create a strong employer brand is to find out what’s already being said in the marketplace – your reputation, if you will. And, in the social media age, it’s not hard to find. These digital conversations are crucial for companies in benchmarking where their brand stands and how it can be improved. The good, the bad, the ugly – it’s all there and it’s important to know in order to strengthen your weaknesses and capitalize on what you’re already known and trusted for.
- Top Talent Still Want Good Pay
When choosing a place to work, competitive salary and benefits, long term security and a pleasant work atmosphere rank among the highest factors. These findings come as no surprise considering all of the hardships employees have weathered in a turbulent economy, which has included salary freezes, layoffs and high unemployment rates. Still, workers said money isn’t everything and ranked a pleasant work environment as the number three reason when choosing a job.
- Respect Breeds Loyalty
According to Randstad’s 2013 Employer Branding survey, employees rank workplace respect as one of the key attractors to a company. Factors such as recognition for good work, honest and open communication and respect from colleagues are big indicators of a company that values its employees.
As accented by the Houston Chronicle, workplace relationships are crucial to today’s workforce. Statistically speaking, the average American spends more time at work than at home – so it makes sense that employees want a working environment that’s positive, encouraging and rewarding. Not having a respectful work environment could result in high turnover rates, additional costs to recruit, hire and train new employees and thus bottom-line budget constraints.
- Engaged Employees are Happy Employees
Randstad’s survey results also showed that employees want a job that makes use of their existing skills, while providing opportunities to acquire new ones. Additionally, 39 percent of workers consider a job interesting when new ideas are valued. In order to keep employees happy, they must be engaged, challenged and valued. It’s up to companies to provide new learning opportunities and training and professional development initiatives in order to attract the best of the best when it comes to talent on the market.
Employer branding is quickly becoming a hot topic for companies as the competition for talent intensifies and employees gain confidence in a rebounding job market. More organizations are realizing the value in cultivating a strong brand as it’s one of the key drivers in attracting top talent, and serves as a true strategic business differentiator that can greatly improve a company’s bottom-line.