Pub. 3 2014 Issue 1

l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s 10 W HEN ORGANIZATIONS TALK ABOUT “being the best,” it is often in terms of profit, customer perception or quality of service. One key element that is often overlooked, however, is the reputation of the organization with both current and potential employees. While hard to quantify, this “ Employer of Choice ” reputation is one of the most important measures of success because it has an impact on everything else an organization tries to accomplish. Employers who understand this are what we call “ Destination Employers .” They are organizations everyone wants to work for and are also often leaders in their industry. So what are the key areas of focus for a Destination Employer? A common thread seems to be three very important aspects: Talent Acquisition, Retention and Employee Engagement. Tied to those are the additional areas of Onboarding, Communication and Recruiting. A Proven Design Think of the Destination Employer model as a three-legged stool and then think of the legs of your stool as Talent Acquisition, Retention and Employee Engagement. In this example, each leg is critical and if one or more is missing, the stool will not be able to stand. For example, if you do a great job through the talent acquisition process but are unable to retain top talent because of a lack of focus on retention or engagement, your stool will not stand very well. Additionally, it is important to note that often the legs alone will not be enough. In order to be successful, you need to add the stringers of Recruiting, Onboarding and Communication to provide more stability and ultimately create a seat that is strong enough to survive any weight or pressure that may be applied. Here is how everything works together: Talent Acquisition / Onboarding. While the hiring process isn’t necessarily overlooked by employers, it often doesn’t get the attention it deserves. In most situations, once an employee has been hired, a week of training, a few days with a co- worker, or even a simple meeting with a supervisor is all that is offered. What the best companies recognize however, is that regardless of how good the hiring process is, it will NEVER be as good as it can be without an equal amount of effort invested in an onboarding program that is focused on equipping a new employee for a smooth transition and future success. Without it, there is the risk that new employees become frustrated or disgruntled over matters that should be insignificant. The result may be that they leave quickly or worse, stay but disengage. Ultimately, onboarding is the brace that supports any investment in Recruiting and Employee Retention. Retention / Communication. While there are numerous reasons a good employee might disengage and or leave the organization, many of those issues could have been prevented with better communication. In fact, research has proven that nearly 70% of people leave their jobs as a result of issues that could have been prevented through better communication from their supervisor and / or top management. Companies that don’t place a priority on communication will have a difficult time engaging their employees and that lack of engagement will have a negative impact in all other aspects of their business. Employee Engagement / Recruiting. The importance of effective recruiting in the hiring process is easy to see. Organizations that want to thrive as opposed to survive have to figure out how to identify and attract top talent that will set them apart within their marketplace. Utilizing an internal referral network, establishing a formal method of specifically identifying strong internal or external candidates that may be a fit for upcoming roles and even utilizing the services of external recruiting support are all valuable tools in the process. It is also critically important to remember that you must find a way to re-recruit the talent you already have. Genuine, regular conversations related to current performance, contributions and career path opportunities are all critical to keeping your top performers engaged and positive. If you can do that, they will be the best recruiting tool in your arsenal. One Final Thought You will note that none of the above points addressed the issue of compensation or benefits. That is not to say that either of these items is not important, because they are. The pay and benefits an employee receives could be considered the seat that sits upon the legs of the stool we have used in our example. Some benefit packages may be like wood - they do the job but might feel a bit uncomfortable to sit on long term. Other packages may be more comfortable both initially and in the future. The important thing to remember, however, is that without the legs to stand on, the seat really doesn’t matter. The concept of Destination Employer is easy to understand, but challenging to measure and implement. The ability to grow your company into one that is perceived as an employer of choice in your market, however, is truly dependent on the contributions of everyone in the organization and a focus on the six critical components mentioned above. THE SECRET OF BEING THE BEST By DavidWeaver, Recruiting Consultant - Partner Career 1 Source