What Is The Importance Of Employer Branding?

Abstract

Various Organisations and banks use many methods to recruit and hire, but now the time demands that organisations their brand to attract talent that best fit the organization requirements. In the current BFSI environment of continuous change it is hard for organizations to attract and retain the best candidates. This article discusses the importance of employer branding in today’s scenario with respect to the increasing demand for talent in the banking sector. This article also defines employer brand as the organisation’s or the banks image as an exceptional place to work in the minds of the current employees as well as potential candidates, clients, customers, and stakeholders. Employer branding is an area of growing importance and

Consequently, organizations/banks and HR are under increasing pressure to present their company as a reputable place to work. They use the employer brand to bolster confidence in the company from the perspective of both the current workforce and candidates considering employment with the company. An effective employer brand is a long-term strategy with a transparent message. It reflects how the organization wants prospective and current employees to see the company. The most highly successful companies have three top goals for their employer brand: helping employees internalize the company’s values, achieving a reputation as an employer of choice, and recruiting and retaining employees.4 In fact, global brand success of major corporations is now tracked, with results published annually by BusinessWeek A 2006 study on employer branding, conducted by EMERGE International and Rada Advertising, revealed that a majority of organizations view employer branding as a recruiting tool for competitive advantage. In fact, two-thirds believe their brand assists them to attract attract and retain top talent, 85% said that employer branding is important to their organization and 49% identified the employer brand as one of the top five strategic initiatives for their firm in the next year.6 The strategic role of the employer brand in staffing management is supported

Evaluation can be accomplished through many means. Focus groups and surveys are useful to learn what employees think about the brand and the company. It is recommended to ask questions on topics such as work/life benefits, compensation and benefits, learning and development, career opportunities, management support, cooperation among co-workers, stimulating work, time off, and facilities. A common pitfall is when companies focus solely on making changes to the web site and not within the workplace culture itself. Staffing professionals will want to ensure they are part of the reinventing process to share their viewpoints on recruiting challenges. Research by The Conference Board highlights a number of key lessons regarding the employer brand. In today’s tight labour market, company leaders say that the lack of an employer brand identity can significantly undermine staffing strategies. Many regret they had not begun branding efforts much earlier, more intensively and with priority by senior management. They find that for the branding process, culture—with focus on leadership and communication is critical and building trust is essential. As a result of branding evaluation, many companies choose to ‘reinvent’ themselves. For example, companies that have been around for a long time may need to upgrade their image to attract talent. One such company is Union Pacific, a 145-year-old Nebraska-based