Creating Employer Brand Value
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The document outlines strategies for developing employer brand value through increased employee engagement and measurable outcomes. It emphasizes the importance of senior management involvement, clear employer brand strategies, and effective communication to enhance organizational trust and participation. Key action items include elevating employer branding initiatives, targeting internal stakeholders, and demonstrating progress through effective project management.
Creating Employer Brand Value
- 1. Creating Employer Brand Value. The plan to develop and demonstrate employer brand value in your organization.
- 2. Welcome. Today’s facilitator: N. Robert Johnson, APR Practice Leader, Workforce Communications Practice
- 3. Expectation setting. Interested in a specific topic? Let us know. • New ways of thinking about employer brand, employee communication and employee engagement • Ideas that you can use • All within 30 minutes
- 4. Recap of last webinar. Deeper Dive on Discover. Infusing employee engagement data into your employer brand. • Authenticity is the new paradigm of communications • The strategy is to shape your employer brand with everyday experiences • The tactic is to use every data point within reach • Impact with a close look at employee engagement
- 5. Today’s webinar. Creating Employer Brand Value. The plan to develop and demonstrate employer brand value in your organization.
- 6. Question: Which of the following creates greater employer brand value? • A new logo • A new tag line • An engaging career site • Engaging videos • An aggressive social media program • Measurable outcomes
- 8. Our approach to creating the plan. • Business impact – it’s about taking on an issue that impacts the organization (employee engagement, retention, etc.) • It’s focused on gaining the trust, support and participation of the CEO and senior leadership • We see several key components
- 9. Key components. Mission what are trying to solve Environment state of talent, talent needs, etc. SWOT strengths, weaknesses Metrics what & how to benchmark Project MGMT budgets, timelines, milestones The vision with equal parts rationale and emotion; connect to strategy Support with proof points, particularly those for your company/industry A realistic assessment of what you’ll need to accomplish the mission How do we define program success and prove the program’s ROI? A clear but concise project plan builds trust
- 10. Talent is looking. (environmental proof points)
- 11. Illustration: environmental proof points. • Of employed workers, 38% are dissatisfied with their current job, 27% are neutral • Most, 90%, plan to explore new opportunities as the job market improves • “Actively looking” and “browsing” employees make up 77% of employed workers Monster Insights 2014
- 12. Illustration: environment proof points. • Only a third are more committed to their company than when they started • Less than half feel that their efforts are recognized and valued • Primary drivers of job searches include better match to skills and desires (38%); higher compensation (38%); and opportunity for career advancement (25%) Monster Insights 2014
- 13. Illustration: environmental proof points. Only 15 percent of the employed workforce claim to be so happy that they won’t even consider another position. 15% LinkedIn Talent Trends 2014
- 14. A few words about employer branding.
- 15. The state of employer brand. Who owns employer branding internally? 53% say EBI Global Trends 2014 HR (US)
- 16. The state of employer brand. A clear employer brand strategy. 14% 17% 32% 35% Have not developed strategy Yes have a clear strategy No but working on it Yes but needs futher development EBI Global Trends 2014 (Global)
- 17. The state of employer brand. 1) Having a clearly defined strategy 2) Senior management engagement 3) CEO engagement 4) Communications planning 5) Defining EVP 6) Developing strategies for retaining talent 7) Collaboration with other departments 8) Conducting internal research 9) Producing communications material 10) Participating in social media How important are the following to achieve employer branding objectives? (Global – in order of importance) EBI Global Trends 2014
- 18. The state of employer brand. 1) Obtaining an adequate budget 2) EB messaging across departments 3) Distinctive employment offering 4) Senior leadership engagement 5) Communicating EB to candidates 6) CEO engagement 7) Communicating EB to customers 8) Communicating EB to suppliers 9) Engaging external agency What are the challenges faced in managing your employer brand? (Global – in order of importance) EBI Global Trends 2014
- 19. Impact. (picking metrics and alignment)
- 20. The impact of employer branding. 1) Employee engagement 2) Retention rate 3) Number of applicants 4) Quality-of-hire 5) Cost-per-hire 6) Ranking in best employer awards 7) Promotion of internal candidates 8) Employee referral rate of new hires 9) Candidate conversion ratio 10) Sourcing effectiveness 11) Profit-per-employee What metrics do you use to measure ROI on your employer brand? (Global – in order of importance) EBI Global Trends 2014
- 21. The impact of employer branding. The main benefits gained from employer branding. 10% 11% 11% 12% 13% 19% 19% 22% 28% 32% 35% Increased customer engagement Decrease in time-to-fill Setting a standard/framework for HR Increase in unsolicited resumes Increase in internal hires Decrease in turnover Higher acceptance rates Reduced recruitment costs Reconigtion as EOC Increase EE engagement Ease in attracting candidates EBI Global Trends 2014 (Global)
- 22. Goal example: Financial services and turnover. Average annual voluntary turnover rate in the financial services industry is: 12.8% (CompData Surveys, 2013); Average cost-per-hire is $1,949 (>10,000 ees) (Dise, 2012) For a regional bank with 24,000 ees Need to fill: 3,120 ees (24,000 x 13%) CPH: $6,080,880 (3,120 x $1,949) Stronger employer brand cuts turnover by 28% (LinkedIn) Need to fill becomes: 2,246 (becomes target goal) CPH becomes $4,377,454 (becomes target goal) a savings of $1,703,426
- 23. Another Goal example: Financial services and engagement. Per AonHewitt, at any given time a third of employees are actively disengaged. Gallup estimates that the cost of a disengaged employee is approximately $2,500. For a regional bank with 24,000 ees 7,920 actively disengaged employees (24,000 x .33) Impact: $19,800,000 (7,920 x $2,500) Reducing the disengaged population by just 20 percentage points would reduce the impact of the disengaged by: $3,960,000. This doesn’t include the upside of increased productivity which has a value far greater than the $2,500 benchmark.
- 24. Summary. Mission what are trying to solve Environment state of talent, talent needs, etc. SWOT strengths, weaknesses Metrics what & how to benchmark Project MGMT budgets, timelines, milestones
- 25. Action item 1: Elevate employer branding – and HR – by taking it on. A business case means solving something for the good of the organization. Focus on one to three “impacts” – e.g. increasing employee engagement, decreasing turnover, etc. – and align data and outcomes. Be specific Have measurable outcomes Be-data driven
- 26. Action item 2: Target internal sponsors, speak their language and have a goal. CEO/senior leader engagement and obtaining an adequate employer brand budget are both top critical factors and top challenges. • Paint a picture (the why with emotion) • Frame a solution • Outline the process (be realistic about any heavy-lifting) • Clearly state budget, outcomes and milestones
- 27. Action item 3: Demonstrate through great project management. Taking on a solution is the plan to develop employer brand value; achieving the solution is the way to demonstrate its value. • Assemble your team • Clearly delineate roles and responsibilities • Update stakeholders frequently and with style • Don’t be shy: celebrate wins
- 28. Our approach to employer brand. Discover • Stakeholder interviews • Focus groups • Employee engagement data • Communication audits • External brand alignment • Culture, mission and values alignment Invent • Employer brand promise • Employer brand attributes • Employee value proposition • Creative design expression • Strategic communications planning Deliver • Employer brand architecture • Integrated communications • Certified brand ambassadors • Customer experience and employer branding
- 29. Employee Value Proposition. How and why your EVP plays a critical role in employer brand and employee communication. Thursday, July 31, 2014 2:00-2:30 ET Thank you! Offline questions? Contact me at 216.685.4486 or nrjohnson@davidgroup.com Our next webinar.