COMPANY SPECIAL...... Employer brand key to woo top talent, boosts CV value

Employer brand key to woo top talent, boosts CV value   Helps Cos Create Opportunities For Staff To Learn & Grow A simple measure of your company's standing in the talent marketplace would be to assess how often your people are called for other opportunities.The fact that your employees are sought after should make you happy , and happier when they don't take the bait. This implies that the market and competition are putting a value to your employees and, as an employer, you are creating `CV Value' for them. The other key measure would be how professionals view your company and how many of them aspire to make a career in your company . A number of factors contribute to building your employer brand. First and foremost, it is important that your organisation has a growing business and is constantly reinventing, thereby providing newer opportunities to people who are committed to a long-term career with your organisation. People tend to become stale in a role or a business and the key is to keep them renewed and fresh for newer challenges. If the business is stagnating or the industry in which you operate has low growth prospects, then the quality of people working in your business will taper off over time.Your employer brand is ultimately a function of the op portunities you can create for your people to learn and grow their careers. Employer brands are not built overnight. It takes time to carefully construct a brand and is driven from the top. It is critical to define your value proposition as an employer and why good people should consider joining your organisation. Some of the key ingredients are listed below: Hiring right at the top: First, it is about attracting the right leaders to your company . Quality attracts quality and this starts at the top. An uncompromising attitude when it comes to hiring the right leaders is critical to building the right team under him or her. Creating the right environment: The best of people will fail in a non-conducive or toxic work environment. It is important to build an apolitical work environment driven by meritocracy , trust and empowerment. Ethics & good governance: The company must be known for its ethical business practices and, if at all, be in the news for the right reasons. Employees take pride in their association with good brands. People practices: The company has to be seen as being fair to its employees and the one which provides an environment that supports the career aspirations of its people over the long term. It does not mean that you run a `soft' organisation which does not demand performance. On the contrary, the company creates a conducive environment for top performers. Future prospects: No matter what, people will change jobs. When they do leave your company and find great jobs outside, it further boosts your employer brand. Do your employees enjoy a good premium in the talent marketplace? Tough hiring standards: Set up exacting standards when you hire. The easier it is for people to get in, the easier it is for them to leave. It is important to set high standards and benchmarks while recruiting. Interview experience: During recruitment, it is important to treat candidates well and give them respect. It is fine to not recruit them as they don't meet your expectations, but ensure that they are turned off respectfully and in a timely manner. Communicate and close the loop. Compensation: Most people do not leave for just better compensation. However, it is essential that your compensation is in sync with the general market. Compensation as the sole lever for retention has hardly worked, but it is essential to create stickiness and exit barriers through smartly created deferred pay structures and long-term wealth-creation plans for performers. Entry: When people join the organisation, make them feel welcome and wanted. Set them up for success and give them the space and time to express themselves. Often, many organisations have an old boys club which expects the new hire to align with them or more often alienates new hires. Exit: When people do exit the organisation, treat them well and give them a good farewell.The employee alumni network is quite powerful when it comes to attracting talent. Let people leave your organisation with fond memories and make them your brand ambassadors. Live up to your promises: The last but not the least, live up to your promises as an employer. If you can't deliver, do not commit.

By K Sudarshan,

Regional Managing Partner, EMA Partners International (Asia). Sep 27 2017 : The Times of India (Mumbai)