Testing times or not, companies are well aware of the resources, time, and effort they put in to induct a new member of the team. After having crafted an attractive job vacancy, browsed through various applications, and spent hours on a telephonic or face-to-face interview, you finally hire the best candidate. Most people tend to think the job is done. Well, if you ask us, we’d say Not really.
You see, the difficult part is yet to begin. Getting someone to join your firm is easy because while you are looking for the right person to fill in that position, candidates look for an opportunity for their career growth and the perks that come along with the position. So, the real challenge here is to get them to stick around. And that is why if you aren’t serious about employee retention as you are for Hiring, maybe you should rethink the times you’re living in. Here’s why employee retention matters as much as hiring…
Think of the time when you were looking to get someone onboard for an open position. There had to be interviews lined up for multiple rounds, and once the candidate was on board, the process of induction in multiple departments took another month or so. You put in so much to get someone on board for a job profile- effort and money, both. What needs to be kept in mind here is that no one performs the best immediately or within a couple of days of joining. So, if nothing, value all that you put in as a firm and allow the Hired to find an opportunity to prove himself/herself.
Think of all that time spent on hiring a candidate, and then training him/her. Maybe the candidate isn’t performing the best at present, but there could be a number of reasons for that. Don’t just give away that time for nothing, for hiring a new candidate will not be easy. You’ll have to spend probably more time training someone new.
When there’s a constant pressure to perform, even top-talents stop feeling connected at work. In such a situation it is highly likely that they would prefer switching when best recruiters are hiring. Without a really good employee retention rate, you’ll most likely be serving your best talents to others in a palette. So, make sure you support your employees in tough times, and while performance matters a big deal, remember, the situation is tough on all sides.
As simple as it’s ever been, happy employees never leave, even if they aren’t very satisfied with the firm, they prefer to stay back because they’d choose a good boss over anything else. Effective employee retention requires a very simple plan- quality engagement. Be it the usual company culture, or the current Telecommuting culture of working, your employees should know that you understand and care for them. Try being more flexible and credit them for staying put even in difficult times.
Is Hiring an easy process? No. Even when outsourced, top recruitment agencies do their best to help you find the right talent for a job vacancy. Be mindful of, and appreciate all the efforts you or they put in. It’s going to help the employee and firm in the long run.
Employer brand is the term commonly used to describe an organization's reputation as an employer.
A company has a reputation to protect towards its customers, its product, services it delivers. But it also has a reputation as an employer of choice.
Attracting and retaining the best talent in an envoirnment of more job shoppoers then job seekers, employer branding plays a crucial role in determining the companies success. As per LinkedIn report, A strong talent brand reduces the cost per hire by 50% and lowers the turnover rates by 28%.
Infact 78% of Indian professionals mentioned they consider the employers reputation as a place to work, co-workers and recognition before cosidering an offer, which together can be accounted as an Employer Brand.
Where Indian HR leaders significantly belive that it affects the quality of hire, there is very little that is done to enhance their companies image as an employer.
Where compensation and competetion to hire the best talent is so stiff in job market, Employer brand plays a crucial role in towards attracting human capital.
Social media and employer brand focused sites like facebook and glassdoor have made the world so small that establishing and developing employer as a brand of choice showcasing why the best talent should apply to their companies needs to be defined.
Another importand aspect of building a good employer brand is Stumilating Employee Productivity. When employee experiences the reality of “brand promise” upon joining, they align themselves with the values of an organisation better, thus being a part of the big picture and greater purpose thus laying foundation stone towards an engaged workforce.
Ambience definitely adds on to the public image of a restaurant, Similarly advantages of distinct employer branding strategy is evident. The consistent communication of corporate vision and culture helps a business find the right people, retain good performers and GROW, both internally and externally. It enhances the External reputation of an organisation when the employees become the brand ambassdor who communicate the value and mission of the organisation to their professional and personal network.
A job seeker accepting a job offer based on his acceptance of an employer based on his personal allignment with the employer brand, automatically retention becomes stonger as compared to someone who rather out of desperation, spurring acceptance of a job offer with just any company.
PROMETHEUS CONSULTING can help you declare an employer brand, provides excellent advice for the starters, Crucial first steps include contemplating business needs, identifying target groups, establishing performance metrics and formulating effective messaging.
PROMETHEUS CONSULTING is a talent networking platform providing contingency recruitment solutions along with RPO and branding stratergy to Apparel Export and Retail Industry.