Talent seen as world's most desirable commodity
The shrinking availability of skilled talent is having a major impact on employers around the world. Talent is now being referred to as the world’s most sought-after commodity. In this new environment, companies will need to raise their game dramatically to not only retain employees but attract new talent.
A new kind of HR strategy — one that takes a marketing approach to recruitment — is required. As the race for talent intensifies, employers need to become much better at evaluating how they compare to the competition.
Employers also need to pay more attention to the various segments of potential employees — from the four generations at work today to the under-employed to immigrants with diverse cultural backgrounds. Employers must pay attention to each group’s specific expectations and adapt their value proposition to effectively communicate why their organization should be any candidate’s first choice for employment.
How candidates perceive an organization and its brand as an employer will have a direct impact on recruiting success. To put it simply, when resources are scarce, only the employer with a strong brand will be attractive enough to meet recruitment objectives.
There is a misconception about what an employer brand really means. It’s more than just a message the company wants people to buy into. An employer brand is the sum of all experiences a candidate goes through while interacting with a company throughout the recruitment process. Therefore, the best way to find out what kind of brand an organization has is for the employer to take a look at this process from a candidate’s point of view.
What do candidates experience when they go to the company’s website? Does HR send an acknowledgment letter or e-mail thanking each candidate who sends in a resumé? How are candidates greeted by the receptionist when they make initial contact by phone or in person? Is the HR person who interviews candidates a good spokesperson who can articulate the organization’s values and culture?
All of these considerations, and others, go into building a solid employer brand in an ultra-competitive job market.
Employers need to clearly define and articulate a solid value proposition to candidates. This is called the “employer promise” to candidates. If a company doesn’t have one, then it has no control over how others view the company as an employer. At the same time, former and current employees will use the web to discuss the company’s performance as an employer, which means only one side of the story is being communicated.
An employer must clearly describe its corporate culture and why this makes the organization a special place to work. Don’t be too modest. If the organization is indeed a place that people truly want to be a part of, why not get that message out loud and clear? This also serves to filter out individuals who wouldn’t fit the culture.
To support this promise, communicate concrete facts, programs, policies, survey results and information that clearly portray the organization as an employer of choice. Depending on the criteria chosen, this could include specific career advancement policies, compensation and benefits or other features that make the organization a great employer in the eyes of employees.
Keep in mind that any candidate’s “attraction drivers” will vary based on age. The majority of Generation-Y candidates pay more attention to career advancement opportunities, while work-life balance is the top priority for most Generation-X candidates.
An easy way to uncover an organization’s value proposition is to ask new hires why they chose the organization over other employers.
In tight labour markets, when a qualified candidate decides to switch jobs, she is in a position to choose her next employer and will first send resumés to companies she views most favourably. Other employers might never even know this top candidate was available in the job market.
The Internet provides incredible ways for employers to actively demonstrate their brand and why they should be considered an employer of choice. The first tool most companies use is a simple job posting. However, few candidates who read a job ad actually apply. Some realize it’s simply not the right role for them but a large number won’t respond simply because they don’t see a good reason to make their move.
To increase the conversion rate on job postings, it’s critical to communicate the brand promise as well as any other advantages the organization has to offer.
A good next step is to create a detailed microsite that features information on the great work environment and other benefits that make the organization special. Think of it as a sales pitch — because that’s exactly what it is.
In the increasingly tight job market, employers must remain permanently visible to potential employees, establishing and maintaining relationships with potential candidates before they even begin pursuing a new job. This is particularly crucial when it comes to hard-to-fill or mission-critical positions.
Gabriel Bouchard is the founder, general manager and vice-president of online job board Monster Canada in Montreal. For more information, visit www.monster.ca.
A new kind of HR strategy — one that takes a marketing approach to recruitment — is required. As the race for talent intensifies, employers need to become much better at evaluating how they compare to the competition.
Employers also need to pay more attention to the various segments of potential employees — from the four generations at work today to the under-employed to immigrants with diverse cultural backgrounds. Employers must pay attention to each group’s specific expectations and adapt their value proposition to effectively communicate why their organization should be any candidate’s first choice for employment.
How candidates perceive an organization and its brand as an employer will have a direct impact on recruiting success. To put it simply, when resources are scarce, only the employer with a strong brand will be attractive enough to meet recruitment objectives.
There is a misconception about what an employer brand really means. It’s more than just a message the company wants people to buy into. An employer brand is the sum of all experiences a candidate goes through while interacting with a company throughout the recruitment process. Therefore, the best way to find out what kind of brand an organization has is for the employer to take a look at this process from a candidate’s point of view.
What do candidates experience when they go to the company’s website? Does HR send an acknowledgment letter or e-mail thanking each candidate who sends in a resumé? How are candidates greeted by the receptionist when they make initial contact by phone or in person? Is the HR person who interviews candidates a good spokesperson who can articulate the organization’s values and culture?
All of these considerations, and others, go into building a solid employer brand in an ultra-competitive job market.
Employers need to clearly define and articulate a solid value proposition to candidates. This is called the “employer promise” to candidates. If a company doesn’t have one, then it has no control over how others view the company as an employer. At the same time, former and current employees will use the web to discuss the company’s performance as an employer, which means only one side of the story is being communicated.
An employer must clearly describe its corporate culture and why this makes the organization a special place to work. Don’t be too modest. If the organization is indeed a place that people truly want to be a part of, why not get that message out loud and clear? This also serves to filter out individuals who wouldn’t fit the culture.
To support this promise, communicate concrete facts, programs, policies, survey results and information that clearly portray the organization as an employer of choice. Depending on the criteria chosen, this could include specific career advancement policies, compensation and benefits or other features that make the organization a great employer in the eyes of employees.
Keep in mind that any candidate’s “attraction drivers” will vary based on age. The majority of Generation-Y candidates pay more attention to career advancement opportunities, while work-life balance is the top priority for most Generation-X candidates.
An easy way to uncover an organization’s value proposition is to ask new hires why they chose the organization over other employers.
In tight labour markets, when a qualified candidate decides to switch jobs, she is in a position to choose her next employer and will first send resumés to companies she views most favourably. Other employers might never even know this top candidate was available in the job market.
The Internet provides incredible ways for employers to actively demonstrate their brand and why they should be considered an employer of choice. The first tool most companies use is a simple job posting. However, few candidates who read a job ad actually apply. Some realize it’s simply not the right role for them but a large number won’t respond simply because they don’t see a good reason to make their move.
To increase the conversion rate on job postings, it’s critical to communicate the brand promise as well as any other advantages the organization has to offer.
A good next step is to create a detailed microsite that features information on the great work environment and other benefits that make the organization special. Think of it as a sales pitch — because that’s exactly what it is.
In the increasingly tight job market, employers must remain permanently visible to potential employees, establishing and maintaining relationships with potential candidates before they even begin pursuing a new job. This is particularly crucial when it comes to hard-to-fill or mission-critical positions.
Gabriel Bouchard is the founder, general manager and vice-president of online job board Monster Canada in Montreal. For more information, visit www.monster.ca.
