How Your Employer Brand Can Minimize the Risks of Hiring
Hiring is always a risk. And when you’re hiring someone who will represent the face of your company online, the reputational stakes can be pretty high.
First, the not great news. The demand for talent is more competitive than ever and attracting and retaining people is tough. McKinsey says that after 4.3 million people quit their jobs this past year, we have 4 million more open jobs than available candidates. Even worse, 44% of Great Resigners surveyed said they are not interested in going back to traditional jobs any time soon.
I also have some good news. The same study told us why people are coming back. Here are the factors that top talent cited as why they are sticking with their jobs:
(My first guess had been that folks mainly didn’t want to lose their health care benefits. I was wrong.)
With the Great Resignation still in full swing, employers need to be more clear than ever on their brand promise and how it applies to both customers and employees. One of the best ways to ensure internal alignment around your promise is through an Employer Brand Toolkit, which can:
- Strengthen your company’s employer brand
- Attract the right talent with an adaptable work culture
- Minimize the risk of costly turnover
- Empower your team with benefits that actually matter to them
Here are 3 few must-haves in your toolkit:
Clear and specific values
Values are more meaningful when they are specific. When given a list of positive attributes, companies are inclined to say “all of them apply to us!” When forced to pick just 5, what happens? Were you surprised by what you were willing to give up? Did everyone on your team agree on those 5? If not, how can your values be passed down?
Actions on those values
What are the daily practices that your entire team, including leadership, enforce every day? For example if you value integrity, but don’t honestly own up to a mistake with a client, is that value really true for your organization? Does leadership reward values-driven actions, even if they mean something negative for the company in the short term?
Measurable promises
What is the steadfast truth your people can count on you for? This goes for both customers and your team. What will you deliver, without negotiation, every day, regardless of changes in technology, team, or market? How does your promise align with your values?
While seemingly simple, aligning a team around non-negotiable values and setting performance against them is surprisingly difficult. With thoughtful exercises and a team ready to put in the hard thinking, it’s not only possible — it’s necessary.
