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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