EB Encyclopedia
This is a 5-bullets weekly pit stop for all interested in effective employer branding #28
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1. A BRAND TO FOLLOW: Microsoft boosts employee pay. ?
@Microsoft is significantly boosting pay and stock compensation for their employees.
The company plans to nearly double its budget for employee salary increases and boost the range of stock compensation by at least 25%. This move will mainly affect early to mid-career employees.
WHY TO DO THIS?
?it recognizes an exceptional employee impact, shows appreciation to talent who support company mission, culture, customers & partners;
?it seeks to retain employees and helps them cope with inflation;
? It helps remain competitive in the labour market in a fierce battle for talent with competitors.
For more details, please, follow the link:
#talent #strategy #retention #compensation #benefits #recognition
2. ACTIVATIONS TO FOLLOW: A 4-day workweek with no cut in pay. ?
The boundary between work and private life is still increasingly blurred. According to the Flexjobs study, 56% of respondents overwhelmingly list their workday flexibility as the top way their workplace could better support them.
20 organizations in Australia and New Zealand are preparing to trial a shorter work week with no cut in pay starting from August. It is planned that:
? with a 4-day week, employees will retain 100% of their pay while reducing their work hours to 80%;
? employees will commit to maintain 100% productivity or improve it by 25-50% as per the 100:80:100 model;
? the businesses will remain open 5 days a week by giving employees either Mondays or Fridays off.
Discover more about the 4-day workweek movement here.
#labourmarket #workweek #productivity #worktransformation #trends #2022
3. AN APPROACH TO APPLY: Turning your employer brand into a growth driver. ?
Businesses no longer compete for their talent just on the basis of job specs, compensation and benefits. They compete for them as brands.
How to compete for the best talent and win in a new complex organizational reality?
LinkedIn shares a guide how to turn your employer brand into a growth driver.
Taking a unified brand approach becomes vital. Companies are aligning consumer (B2B/ B2C), corporate and employer brands. They are putting their brand DNA (values and the essence of who they are) at the heart of how they communicate to each of these audiences. The key aspects of the approach include:
? Aligning talent, marketing and corporate communication. LinkedIn data shows that talent campaigns get a 90% higher CTR among candidates who’ve been previously targeted with consumer brand ads. If messaging is combined from all 3 brand dimensions, the CTR of talent campaigns increases by 138% while the CPC drops by 32%.
? Having a brand DNA as a single organizing principle. The ideas, values & messages reflected in the brand DNA should be embedded throughout the entire journey – from brand awareness to demand generation.
? Delivering consistent and credible brand experiences. Future employees may be today’s customers. And current candidates may be considering a decision to buy from you next month.
? Explore the cornerstones of a unified brand approach here.
#talent #employerbranding #strategy #growth #blendedapproach
4. EMPLOYMENT BRANDING TRENDS TO FOLLOW. ?
If a company wishes to become an employer of choice, it should not only understand what candidates want from a job, but it also must live it.
The WilsonHCG research discovers 6 aspects the talent really wants from their employers. They are:
1. Flexibility in all work-related things. It isn’t just about working remotely – people want to choose working hours that fit around their lives.
2. A real work-life balance. Employers should ensure that employees have clear boundaries in place between work and home life.
3. Opportunities to further careers. Upskilling opportunities appear to be the most important factor after compensation & benefits.
4. True belonging. Company culture should encourage all employees to bring their true selves to work.
5. An ability to positively impact society. A company should be vocal about where it stands on CSR and ESG efforts.
6. A company that really cares. Employers should practice empathy. Training leaders, who operate with understanding & compassion, positively impact culture and improve retention.
? Dive deeper into the report insights here.
#employerbrand #talentacquisition #strategy #workplace
5.RULES TO CONSIDER AS THE MARKET SLOWS. 〽
As the market is slowing, what should employers do?
As CNBC mentions, big companies from Facebook to Uber and Netflix are talking about pulling back on hiring, even layoffs.
Josh Bersin shares 5 essential rules to follow when turning your company into an irresistible place to work in a slow market. They include:
1. Check if your team is optimized and productive. Ask your hiring managers “why are we hiring for this position?”
2. Refine, redefine and communicate your employer brand. Why should a high-value job seeker or college grad join your company? Entering a slowdown, companies have to revisit pay, benefits & rewards.
3. Consider internal talent mobility. It is currently one of the hottest trends in HR.
4. Focus on candidate experience. Do highly strategic sourcing, build up your talent intelligence group and make it easy for candidates to find the right job and apply.
5. Make your company an irresistible place to work. It means wages, benefits and designing a company around people, not outcomes.
? Explore these winning rules in detail. Why not to follow them for a more optimized sourcing and recruiting?
#recruitment #warfortalent #slowmarket #trends
A BONUS PIECE FOR YOUR BRAIN ?
‘Global Talent Retention’ book you need to read
The meaning and mechanisms for changing jobs vary around the world.
How to retain top talent in a global context?
The authors David G. Allen and James M. Vardaman provide the context-specific global and cross-cultural perspectives on retaining talent. They share an extensive research, shed light on the turnover theory and include contributions from a global range of scholars in differing cultural contexts of Africa, Asia, Europe, Latin America and the Middle East.??
#talent #management #employeeretention #turnover #book
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