In what might come as a surprise to HR, recruiters and hiring managers, offering a high salary alone doesn’t always serve to attract and retain the talent your organization needs. There’s been a lot of discussion drawing attention to the fact that for many employees, millennial employees in particular, money isn’t everything. But if an attractive salary isn’t enough to entice and retain employees, what is?
Harvard Business Review looks at a new trend in talent management that might provide the answer: employer branding.
Initially defined as an organization’s reputation as an employer, employer branding is now being considered as a characteristic that can define an organization’s ability to bring on the right employees—and keep them.
HBR identifies a few strategies that organizations can employ to enhance their employer branding, including targeting the right talent, measuring their external brand image and working to make their organization stand out from others. But how can employers gain the insight into their organization they need to properly implement those strategies?
- Are your job descriptions accurate? A position’s description, including a list of needed qualifications, can make or break an organization’s attempts at finding the right employee. To ensure your descriptions accurately reflect a position’s needs, compare job descriptions with those used by other organizations for similar positions. You can also survey current employees to gain insight on whether they believe the description for their position or for positions of employees they’d be working with are appropriate.
- Are employees given a transparent view of future career opportunities within your organization? It’s no secret that employees seek jobs that engage them and that they feel are meaningful. Without access to those opportunities, it’s likely that employees will look elsewhere for their next job opportunities. What’s more, a high turnover rate that a lack of talent mobility strategy can cause can severely harm your employer branding. To ensure that your organization provides a talent mobility strategy that effectively meets those needs, consider career pathing software, which can give both employers and employees insight into appropriate growth opportunities within your organization.
- Does your organization provide access to new learning opportunities? Whether offered during onboarding or further down the line, providing your employees with access to new learning opportunities can attract driven employees and retain similarly committed employees. How you answer this question will help you determine if you’re providing a level of investment your organization needs to foster sparkling employer branding.
To read HBR’s full article on employer branding, click here.