Most employers understand that the most important asset a company has is its people. In fact, a recent study by Indiana University found that 10% of productivity comes from the top 1% of employees and 26% of output derives from the top 5%.
This means attracting and keeping top talent is imperative if you want to achieve top results.
But if you’re an SME, you’re probably wondering what you can do to secure top talent before the Fortune 500’s stake their claim.
The short answer is to work on your employer brand.
An employer’s brand is what communicates to potential employees what it’s like to work for your company. It shows your value proposition as an employer and what makes your company a great place to work. Companies that have clearly defined employer brands can attract up to 3.5 times more applicants per job listing than similar companies in the same sector.
When creating an employer brand, you need to start by identifying who your target employees are. Are you looking for candidates with years of experience? Or, are you trying to attract ambitious graduates? In each case, how you brand yourself is going to be different.
For example, a recent Accenture study revealed that millennials prefer to work in companies that have a creative and fun culture and that provide ample opportunities for career advancement, both of which were considered more important than salary.
More experienced candidates, who have been in the workforce for a number of years, are more likely to have family responsibilities, and according to a recent survey by Seek, are looking for job security, work-life balance, and salary, rather than a fun culture.
Many SME’s are already good at providing what top talent is looking for; it’s just a matter of getting the message out there. So, once you decide what type of employee is the best fit for your organisation, you need a branding strategy that appeals to this target group.
A great place to start is your company’s website. Besides being a great place to position yourself as a thought leader in your field, you can also use it to broadcast your employer brand message clearly, particularly in your ‘About Us’ and ‘Work for Us’ pages. Social media also provides great opportunities. Make sure your current employees are regularly posting on your LinkedIn, Facebook, and Twitter profiles, as they are the best brand ambassadors you have.
As long as you are consistent with your brand messaging, and make sure the wording in your job listings matches your overall brand message, you should find that you are attracting high quality candidates. And this is great news for your bottom line.