by Brandon Rigoni and Bailey Nelson | February 16th 2016
With the creation of such sites as Indeed’s Forums and Glassdoor, employees have had vehicles to share the good the bad and the ugly about the companies they work for. This has become damaging to companies as they have now lost control of their Employment Value Proposition or their Why People Want to Work Here statements. This can cost a lot of money for employee retention, attraction and in many cases loss in revenue. But you do not have to leave this in the hands of the forums and blog sites. We can help you here. What are you doing today to keep a good employment brand? ~The Organic Recruiter
Highlights of this article:
- First, companies need to study their best performers
- A strong employee value proposition attracts talent
- An effective EVP sets a company apart
When leaders see their best performers achieve business outcomes, they no doubt wish they could get more similarly talented people to apply to and join their company.
Apple’s brilliantly defined employment brand not only speaks to people with a strong desire to learn and grow, but also says a lot about the company’s culture and what it values.
Gallup meta-analysis results suggest that when companies select the top 20% most talented candidates for a role, they frequently realize a 10% increase in productivity, a 20% increase in sales, a 30% increase in profitability, a 10% decrease in turnover and a 25% decrease in unscheduled absences.
Best Practices From Companies With Strong EVPs The right talent selection and management practices offer a powerful approach to human capital that should be central to any leader’s business strategy.
Companies with the very best EVPs apply the following best practices:
- They understand their best performers
- They connect their applicant messages to their culture
- They differentiate themselves from the competition
Companies can use an evidence-based approach to develop a definitive guide for attracting applicants with the most potential to thrive.
Just because a candidate has the talent to be a top performer in a role doesn’t mean he or she is a good fit for a company’s organizational culture.
A company’s applicant attraction message should help it stand out from its competitors and provide potential hires with compelling reasons to choose the company as a workplace.
To ensure companies are differentiating themselves, they need to analyze their employment brand’s effectiveness and authenticity and then compare their brand with competitors’ to capitalize on differentiators.
When a company’s EVP highlights the company’s unique qualities, it can set the business apart, win the attention of desirable applicants and promote the company’s brand.
The company discovered that candidates who were more likely to have successful careers after they were hired were the ones most excited during their interviews about future-oriented aspects of the job, such as opportunities to learn and grow and to advance in their careers.
Even though the company pays very well, its job ads don’t mention compensation because it would attract the wrong kind of applicant.
Companies spend a lot of time and money on marketing campaigns to attract loyal customers.
Studying top performers is a necessary first step; leaders then need to craft an EVP that accurately reflects their company’s culture and sets it apart from the competition.
With the right type of applicant knocking at a company’s door, leaders can be more selective about whom they hire, and they can fill every position with someone who is the right fit. When leaders focus on attracting a large quantity of applicants rather than on attracting high-quality applicants, however, they miss the mark significantly.
With the right type of applicant knocking at a company’s door, leaders can be more selective about whom they hire, and they can fill every position with someone who is the right fit. ~full article
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