talent retention (autosaved)

7/31/2019 Talent Retention (Autosaved)

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Talent Retention through Employer Branding

Introduction-

In today's world employee is an important aspect in any organization, maintaining them and

retaining them as an attracting skilled persons are important task and this has transformed into

talent management. Employer branding can be effectively used for this purpose. Employer

branding is a new dimension in managing the talent of an organization from the perspective of

retention and attraction management.

The net benefit of successful employer branding is that an organization's exposure and favorable

reputation increases, creating consensus among employees and the outside world that the

organization is a great place to work. Additionally, employment brand management efforts

reduce the turnover rate among top performers and increase overall workforce satisfaction and

productivity.

Significance and importance of project

Employer branding is the process of planting the idea that your company is a great place to work

in the minds of potential job candidates. It is essentially a promise of what it would be like to

work at your organization and is similar to corporate branding, which involves using a company

logo to convey a certain image or idea to the general public.

However, an employer brand asks potential employees to essentially change their lives by

coming to work at the organization. As the employment market gets more competitive for the

best talent, the key to success in recruiting becomes how well your organization differentiates

itself from others, both in attracting and keeping talent.

Why is a company different or better than others? This is where the concept of employer

branding comes in. An effective employment brand:


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Develops the theme

Creates a career image of what life would be like to work there

Coordinates with the corporate brand

Energizes the right candidates to apply and stay.

Developing an employment brand to meet these requirements can give your organization an edge

in attracting and retaining the best talent and it need not require an expanded compensation

budget to achieve these goals. Promoting the company itself as being the place to work can avoid

budget battles. The brand campaign can also enhance internal culture development programs, as

well as increase motivation and productivity.

Functional Area of Project-

The functional area of my proposed study is Human Resource. I intended to study how employer

branding impacts talent retention. The concept of employer branding clubs human resource

management and brand management principles. It is more of a need then a trend. Through my

study I want to analyze and highlight the importance of Employer branding, even during the

slack periods. It is actually this time when an organization emerge as good or a bad

employer brand.

I also analyzed the relation between employer branding and talent retention through various short

case studies of few eminent companies known for their wide repertoire in their brand image and

pulling up of talent. List of companies included for case studies are-

1) Nokia

2) Coca-Cola

Reason for the proposed study-

Employment branding creates brand loyalty i.e. relating to the policies and procedures and

working environment and helps to create a better image in the minds of employees which will be

an aid in talent retention. Employment branding reflects the image of the company has in the

eyes of existing and perspective employees about working for the company. Shortage of Talent

problem can be overcome by Building Employment brand


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Objectives:

To analyze the reasons for Employer Branding.

To analyze the strategies of Employer Branding, i.e. developing a brand. To analyze the various elements/aspects of employee retention.

To study the relationship between employer branding and talent retention

To study the relationship between employer brand image and employees satisfaction.

Literature Review:

Employer Branding-

The image of the organization as a great place to work in the minds of current employees and

key stakeholders in the external market (active and passive candidates, clients, customers and

other key stakeholders).


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Employer branding core principles-

Talent Management-

It refers to the process of developing and integrating new workers, developing and keeps current

workers and attracting highly skilled workers to work for company. Employer branding can be

used as tool to manage the scarce resources called talent.

Talent Management as a process emerged in 1990s and is adopted by many companies to retain

their employees talent and skill for the success of the company. To manage the employee talent

companies have developed plans and processes which are as follows:

Attracting and recruiting qualified candidates with competitive backgrounds

Managing and defining competitive salaries

Training and development opportunities

Performance management processes


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Retention programs

Promotion and transitioning

Positioning of a company for talent retention-

Employer brand-

According to the American Marketing Association, a brand is "a name, term, sign, symbol or

design, or combination of them which is intended to identify the goods and services of one seller

or group of sellers and to differentiate them from those of competitors."

An employer brand is a collection of ideas and beliefs that influence the way current and

potential employees view an organization and the employment experience that organization is


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offering. It communicates the company's culture and values and helps to ensure employees are

passionate about, and fit in with, the organizational culture to help move the company forward.

Employer Brand is about capturing the essence of the Company in a way that it engages

employees. It is who you are as an employer. It conveys your value proposition- the totality of

your culture, systems, attitudes and employee relationships.

At all levels of building the image of the employer, it requires involvement of the employees and

their views on continuous improvement in the organization.

Employee Brand Building revolves around the following features:

1. Increased responsibilities and duties within the organization

2. Exposure to global work practices and standards

3. Recognition and a culture that rewards performance

4. Opportunities to become a thought leader within organization

Types of Employer Branding

Employer Branding: It provides a snapshot of the company. It promotes and profiles the

company to potential candidates. I help in creating and communicating a compelling and unique

perception of company in the minds of target candidates and employees which attracts, subtly

encourages and retains them. Employment brand best describes what it feels like to work for

organization.

Recruitment branding: Advertise positions that are vacant in company and explains process

for application.

Internal and external branding: There are different approaches to build up an employer

brand. Some organizations have taken the "outside - in "approach. They focus on creating

visibility for their companies in the target talent markets through a multifaceted approach


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including well designed web sites with content on the company culture, compensation practices

and career opportunities and why they are a great place to work. Some have adopted an "inside -

out" approach whereby they create powerful branding internally through employee experience

and turn their employees into brand advocates. This is a key, particularly if the organizations

want to leverage employee's referrals as a way of attracting candidates.

Without internal branding based on a positive experience for employees, external branding soon

loses its shine and investments go down the drain.

The success of employer branding depends on the prevailing culture in the organization. The

employer brand image has its impact on the brand image of the product/services.

Research Methodology:

This is an analytical study based mainly on-

# The secondary data collected through a magazines, internet and newspaper articles.

# The primary data collected through a set of developed questionnaire.

Type of Research Design: The attempt of research is causal in nature i.e. cause and effect. The

relationship between Employer branding as an independent variable with the Talent retention

through satisfaction as a dependent variable is evaluated.

Data Collection Method- Survey method is used for the collection of the data for the study.

Sampling Design-.

Population-The population selected are those who have been working in an organization.

Sampling Frame: The study conducted on the population who has been working in an

organization. Sample can be employees which are included in the sample frame.


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Sampling Element: Employee working in the organization is considered as the sampling

element for the study.

Sampling Technique: The method of purposive sampling is selected whereby employees have

to fill the set of questions on the basis of the determinants. A proportionate stress is given on the

dependent variables and a correlation will be studied to draw the interpretations for

generalization.

Sample Size: The sample size for the study taken is of 30.

Tools used for data analysis-

SPSS

MS-Excel

Chi-square test

RESEARCH METHODOLOGY

Objective-1: To analyze the reasons for employee branding

Employer Branding creates two assets for the company:


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-Brand Associations

-Brand Loyalty

The success of the Employer Brand Program depends upon the factors of efficiency of need,

design of the situation, its implementation and programming.

Employer brand associations helps to shape the employer image which in turn affects

organization attractiveness towards the potential employees.

This in turn built the employer brand loyalty, this loyalty helps to retain the employees and hence

their talent.

Employer Brand Associations:

Brand image is formed by the combination of the perceptions related to product-related and non-

product related attributes and functional benefits that helps to make a place in consumers

memory. Brand Image is determined by the Brand Associations.

Employer Brand Loyalty:

When consumers become committed to your brand and make repeat purchases over time, the

term used is Brand Loyalty.

Brand loyalty has two dimensions- Firstly willingness of the employee to stay in the

organization; its a behavioral dimension and second is attitudinal dimension that represents

employee's level of commitment towards the organization.

The major benefits of employer branding include:-

In a competitive and borderless world, organizations need every weapon in their arsenal to attract

and retain talent. Even in economically volatile times, employees, especially those who possess

the right technical and behavioural competencies, continue to be a scarce resource and employers

will need to poise themselves well to capture the attention, interest and commitment of the best


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and brightest candidates. To achieve that, each and every organization needs to focus on their

employer branding.

Employer branding is a viral-based perception management programme that is intended to raise

the organizations image in the marketplace as a well-managed business.

Employer branding offers a unique opportunity to differentiate from the competition. It also

creates meaningful and enduring reasons for employees to remain loyal to their organization and

employer-

Increased productivity & profitability

Increased employee retention

Highly ranked for Employer Attractiveness

Increased level of staff engagement

Lower recruitment costs

Minimized loss of talented employees

Maintenance of core competencies

Employees committed to organizational goals

Shorter recruitment time

Ensured long-term competitiveness

Improved employee relations

It just brings it all together to greater effect.

Case studies to understand the reasons behind employer branding-

1) NOKIA-

Nokia is well-known for its emphasis and creativity in phone designs and usability

This is reflected in its employer brandcreating amazing new ways for people to

connect to each other, and to the things that matter to them


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The Mobile Rules competition introduced by Nokia invited business plans from

applicants that will shake up the mobile world. The initiative was an excellent way to

discover new talent or identify passive candidates that Nokia may wish to recruit

By having a clear Employer Brand, this shows that Nokia is trying to attract a certaintype of individual, with a specific set of skills and qualities who want to be praised for

their creativity and flexibility

2) COCA-COLA:

When Coca-Cola employees were asked about their company brand, they responded:

exciting, unique and challenging

makes people happy and refreshes them

Employee testimonials, such as these can be used as Employer Brand recruitment tools to

attract similar employees who can thrive in this type of environment

Objective-2: To analyze the strategies of Employer Branding, i.e. developing a brand

Most organizations need to work on how they develop and articulate their employer brand

strategies. The following figure is taken from Bernard Hodes Group Research paper that

surveyed polled 175 employers across the U.S. in a spectrum of industries from education to

manufacturing. About 240 employees were surveyed and were not necessarily employed by any

of the participating employers.


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1. Only 25% of employers indicated that compensation is one of the most important

attributes of an employer brand, compared with 64% of employees.

2. Job security was ranked highly by 41% of employees, but only 21% of employers.

3. Just 15% of employers felt that recognition is important in attracting new hires, while

33% of employees ranked it highly.

4. Nearly half of employers (44%) felt career growth and advancement opportunities are

important to attracting talent, while just over a quarter of talent (27%) agreed

Compensation, benefits, and recognition are still important to job seekers, but employers

may have downplayed those attributes of employer brands due to recently scaling back totrim costs. Job security, of course, is something no employer can promise.

Other than this, the other various strategies to become an employer brand are as

following-


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1. Active employee involvement.

2. Identify the need of the employees and design program as per the requirement.

3. Company intranet.

4. Policy and procedure templates.

5. Recruitment advertisement

6. Work Environment.

7. Compensation and benefits

8. Career development

9. Reward and recognizition.

10.Communication systems.

Objective-3: To analyze the various elements/aspects of employee retention.

As the economy improves and firms look to build their talent strength, it is only logical that

senior leaders, managers and HR professionals will increasingly look at retention as a major

business imperative.

A :: Top Performer Profiles

It is important that both the organization and the employee know what they want to get out of the

job. Yet, unknown to most managers, retaining good staff ideally begins during the recruitment

phase. A key challenge during recruitment is differentiating candidates who do well in interviews

and candidates who will do well in the actual position. Often they can be mutually exclusive. The

goal for any recruitment strategy should be to attract a top performer who will stay with the

company for as long as possible. In order to hire those near perfect individuals, an ideal role

profile should be created. If a company spends quality time, energy and focus to create such a

profile it becomes much easier to source qualified candidates who will successfuly fill the

position.

B :: Orientation and Onboarding


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The actual hiring technique is an important step in the process of building relationships that

encourage long-term employment relationship. Once ideal candidates are hired, their orientation

to the company and the role is paramount.

The orientation process must provide a clear understanding of the role and the performance

targets necessary to attain to complete the role successfully. By establishing these targets from

the outset, the employee will not be faced with surprise expectations, instilling both confidence

and reliability.

Therefore, it is the responsibility of the companys key stakeholders to develop these

expectations prior to any sourcing for a new position and communicating it to the new employee.

If the position profile incorporates these targets and is realistic in scope, new

employees will enter the position with realistic expectations of what they must achieve.

C :: Performance Reviews

Positive feedback on a regular basis does more to propel success in an individual than any other

performance related tactic. Performance reviews are a chance to formally communicate an

employees contribution to the company. A properly conducted performance review provides the

employee and their manager an opportunity to step back, look at the bigger picture of the

employees performance and to discuss in broad strokes whether the performance is below, at or

above company expectations.

D :: Career Pathing and the Two-Way Value Proposition

A strong career plan provides a sense of hope in the future and comfort in the fact that their

company is concerned in them as an individual. The key to this plan is to marry the companys

goals with personal goals, in essence, the real nuts and bolts of employee engagement. It is like

envisioning a journey, the two are taking together. The result is an employee with aspirations

who will see that their current role should be performed to the best of their abilities in order that

they may continue to the next position. The credibility this establishes with the employee will do

more to solidify the intention to stay more than any gift or bonus.


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All top performers aim to accelerate their careers. Assisting individual staff members in

finding new positions within the company may be the best and most direct way to influence

them to stay.

E :: Communication and Employee Engagement

The active listener appreciates the employees feelings, input and concerns which can be the

most cost-effective way to acknowledge people. Being heard builds self-esteem and employees

with high self-esteem feel trusted and valued and are less likely to feel marginalized.

People work for people, not companies, and people need to communicate effectively to ensure

that their voices are being heard and their concerns addressed. More companies are devisingcommunication plans to keep employees apprised of company performance and business

objectives. Keeping employees in the loop increases their feelings of inclusion and helps them

realize their importance to the company and its strategies and fosters the open communication

environment successful companies have well ingrained within their culture.

F :: Competitive Compensation, Benefits and Incentive Program

Competitive compensation and benefit packages including salary, bonuses, stock options, and the

traditional health insurance and retirement packages are tools that some companies use to help

keep employees onboard.

Carefully developed bonus or profit sharing programs provide encouraging, goal-oriented

initiatives for employees to aim towards. The goals for success set out by the manager and the

employee are more attainable if realistic and practical incentives are firmly in place.

Benefit programs are important to employees. Benefits can extend beyond the traditional

health insurance and retirement programs and can include:

employees feel respected, valued, and appreciated


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employees get to be players and not just hired hands

employees get to make a difference

G :: Non-Monetary Reward Recognition

Creative non-monetary reward and recognition programs can be powerful tools. Increasingly,

companies are using informal methods for rewarding staff while financial compensation is

becoming less the norm for recognizing employee accomplishments. Reward systems that are

person-based are proving to be effective especially when recognition is linked to personal desires

or needs.

The most important part of any informal reward and recognition system is that it is linked to

organizational values and that it is given personally from management.

H :: The Boomerang Effect

The word boomerang has recently been used to describe employees who return to an

organization. Boomerang employees are usually very committed to their position and the

company and are therefore can become the some of your best recruiters for new talent and

mentors for existing employees. The time they have spent away from the organization has given

them the additional knowledge of the market, and they have personally experienced that perhaps

the grass isnt greener on the other side.

Objective4- To study the relationship between employer branding and talent retention

Q-1 How well is you informed about the organization value of your company?


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Q-2 How would you rate your organizations pays and benefits?

Q-3 Success in your organization is communicated and valued?

0

5

10

15

20

25

30

1) I understand and implement the

value of the organization.

I swear by the value of organization

Respondents

Series1

0

5

10

15

20

25

30

average good Very good Excellent

Respondents

Series1


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Q-4 Working with this organization has been a career enhancing experience for you, so far?

0

5

10

15

20

25

30

Agree Moderately agree Strongly agree

Respondent

s

Series1

0

5

10

15

20

25

30

Agree Moderately agree Strongly agre

Respondents

Series1


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Q-5 Based on your overall satisfaction rate your companys image,how would you rate your likelihoodto stay?

Objective-5:To study the relationship between employer brand image and employees

satisfaction.

Q-6 Are you satisfied working with your organization?

Q-7 Does satisfaction of working employees attract potential employee towards an organization?

0

5

10

15

20

25

30

Poor Fair Good Very good Excellent

Respondent

s

Series1

0

5

10

15

20

25

30

YES NO

Respondents

Series1


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Chi-Square Tests

Value df

Asymp. Sig. (2-

sided)

Exact Sig. (2-

sided)

Exact Sig. (1-

sided)

Pearson Chi-Square 10.769a

1 .001

Continuity Correctionb 7.266 1 .007

Likelihood Ratio 11.195 1 .001

Fisher's Exact Test .005 .005

Linear-by-Linear Association 10.410 1 .001

N of Valid Casesb

30

a. 2 cells (50.0%) have expected count less than 5. The minimum expected count is 1.20.

b. Computed only for a 2x2 table

FINDINGS

REFERENCES

0

5

10

15

20

25

30

YES NO

Respondents

Series1

talent retention (autosaved)

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