Does your company even have one?
 
If you haven’t established your employment brand, it’s long past due. Why? Because an employment brand creates excitement for prospective recruits about the potential of working for your company. And in 2014, 2015 and beyond you will need all the positive excitement you can muster, because the competitive landscape for hiring and retaining talent will shift from intense to fierce.

ManpowerGroup’s ninth annual Talent Shortage Survey found that 36 percent of employers globally report talent shortages in 2014, the highest percentage in seven years. Forty percent of U.S. employers report having difficulty filling jobs, particularly in the fields of (in order) skilled trades, engineers, technicians and sales representatives.  

What makes this situation even more urgent is the fact that 54 percent of those who experience talent shortages say that it has a medium to high negative impact on their ability to meet client needs. If that doesn’t keep employers up at night, what will?

Recruiting top talent is not the only issue at stake. Retaining top performers and high-potential leaders is also a huge priority, as 59 percent of employers surveyed report an increase in voluntary turnover.  Right Management surveyed 631 senior managers and human resources professionals to learn about the pressure points they face regarding talent management practices. Thirty-one percent cited the lack of high-potential leaders as their most pressing HR challenge. Only 4 percent were able to confirm they have an ample leadership pipeline. When asked to narrow concerns down to the single most pressing issue, respondents predicted the development of leaders for succession planning will be the greatest talent concern three years from now.

There are many tactics employers can use to develop a strong employment brand.  Michael Gruber, chief operating officer of The RightThing, LLC, an ADP company, suggests that rather than using a one-size-fits-all approach to recruitment and retention, organizations should consider generational issues.  Gruber asserts that much of employment branding boils down to the messages we create in job postings, corporate websites, social media – even during one-on-one interviews -- and customizing communication can more effectively resonate with a multigenerational workforce. 

Generation Y candidates and employees value company culture, flexible work arrangements, training and development and support and recognition from managers and company leaders. Gen X’ers want financial incentives, strong leadership/organizational support, customized career planning and a succession plan. Baby boomers, known for their drive and career focus, now prefer work-life balance, meaningful work, and while independent when it comes to ideas and ideals, they enjoy collaborative work relationships. Boomers just enjoy working so much that surveys indicate they will continue to work well into their “golden years.”

So how do you satisfy all to increase your recruiting successes and minimize voluntary turnover? Register for Business Record’s final 2014 Power Breakfast, scheduled for Oct. 8, and join the conversation about these growing generational frustrations and issues. The event features moderator Chris Conetzkey, editor of Business Record, and panelists Deborah Rinner Godwin, vice president at Tero International Inc., Steve Chapman,  president and CEO of Ruan Transportation Management Systems Inc., and Jonathan Brendemuehl, corporate communications manager for Bankers Trust Co.

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Carole Chambers
Director of Strategic Partnerships, Business Record