Acquiring right talent is a growing concern for organisations and the recruitment market seems to have become largely candidate driven, with talented individuals choosing who they want to work for based on their personal perceptions of the job market.
Employer branding has therefore become significantly important than ever, helping create a lasting impression in the minds of prospective employees, customers, and other key stakeholders when evaluating an organisation's business.
Further, with the growing transparency created by social media, people have a direct view into a company and its culture. A strong employer brand can help a company attract the right talent and retain top performers within the organisation as well as boost bottom line results.
Only salary doesn't rule the roost anymore
Our research on identifying the most attractive employers corroborates the fact that there is a lot more than monetary benefits that motivates employees to stay with an organisation.
- 31% of people in the 45+ age category quit their jobs due to lack of career prospects
- 20% women quit their jobs due to lack of recognition
- 33% of people quit office level jobs mainly because of issues with work-life balance
- 23% of the workforce aged 45+ considers changing employers because of poor leadership
Because of these changes, decision makers and managers, therefore, are forced to rethink their employer branding strategies and are evaluating their business objectives, work culture, and employment offerings to attract and retain top quality talent.
A strong employer brand offers non-tangible but powerful gains such as job satisfaction, work-life balance, and career growth and development. Employer branding is the heart and soul of an organisation as it gives potential and existing talent compelling reasons to stay in the organisation and grow together.
Work culture and corporate brand identity are the new career clinchers
As work-life balance and professional happiness becomes an integral component of workplace satisfaction, organisations are looking at new avenues to attract and retain top talent. For this reason, the culture of an organisation is fast becoming a predominant factor that defines the strength of the brand to attract and retain talent. Companies with a healthy work culture and a strong corporate identity have greater employee retention rates as candidates prefer to associate themselves with a reputed organisation showcasing a powerful brand message that resonates with their individual expectations of career growth and personal learning.