Talent Attraction And Retention In Employee Branding Management Essay

endowment Attraction And Retention In Employee Branding Management EssayEmployer brand is one of the most signifi mucklet developments in recent times. Organisations be increasingly recognising that most brand promises are delivered by nation not products. Many studies have shown the gap between an average and a blow over performer has widened than invariably before, and in a downturn, productivity and results matter even more. Having motivated and talented employees can make the difference between business success and failure.Simon Borrow is acknowledged as the creator of the line employer brand as early as 1990 (Thorne K., 2004). agree to Ulrich D., 1997, employer stigmatisation focuses on how the company is seen by accredited and potential employees with the aim of winning the war on talent. Moreover, Employer Branding helps in recruitment, computer storage and in sightly an employer of prime(prenominal). It sets up the anomalousness of the firm as an employer. It la bels the firms principles, systems, strategies and behaviors towards the objectives of attracting, and retaining the firms endureing and potential talent employees. Additionally, in a repulse grocery store where applicants, more than ever before, are smart consumers constantly assessing the value and rewards of their employment experience, its becoming critical for organisations to communicate and grocery store their strengths and image as an employer of choice for a warring advantage.3.1 Talent attraction and retentionFigure 1 Talent attraction and retention modelAttraction material is often the offshoot prefigure of contact with nominees and so it must resonate immediately with the target audience. Uday Chawla, Managing Partner, Transearch, It is an entire process wherein attracting happens first, which should ideally be followed by retention. If we are able to attract talent but fail to retain them, accordingly the entire process of attracting goes to a waste. Attractin g and retaining are inter-dependant. Failure in one area affects the other. One cannot exist without the other.3.1.1 Talent charge. agree to SHRM India (2008), in an word titled Corporate Indian companies Forging New Talent Pipelines and creative career Pathways, in the banking and financial services industry, talent is considered to be premium.Talent pick offment has been risque on the agenda of HR professionals in the UK over the past few years. TM is a multi-faced fancy that has been championed by HR practitioners, fueled by the war for talent and built on the foundation of strategical HRM. . Since 1997, TM has become increasingly popular when the consultancy firm Mckinsey exposed the war for talent as a critical driver of corporate surgical operation, (Chambers, 1998). The starting point of TM is people, namely talents as mentioned in the article Is talent management just old wines in new bottles? A case of multinational companies in Beijing by Xin Chuai et al (2008). Tal ent is defined as individuals who have the capability to make a significant difference to the current and future performance of the company Morton (2004, p.6).CIPD defines talent management as the doctrinal attraction, identification, development, engagement/retention and deployment of those individuals with high potential who are of geticular value to an organisation. On the other hand, Duttagupta (2005) asserts that TM assures that a supply of talent is available to align the well(p) people with the even out jobs at the right time, based on strategic business objectives. Besides, Stainton (2005) supports this argument by claiming that TM is concerned with having the right roles in the right environment with the right manager to enable maximum performance. For example, The Royal Bank of Scotland (RBS) is currently qualification the move from succession planning to what it describes as action-oriented talent management. They see this as a more gas and holistic purpose when it comes to getting the right person, in the right place, at the right time.Talent management can also be used to enhance an organisations image and supports employer branding in the labour market as well as providing a means of enhancing employee engagement to improve retention.3.1.2 Talent management exampleIn order for Commercial banks to gain competitive advantage they need to develop a strategic approach to talent management that suits their business and gets the best from their people. Talent management can also fall in to other strategic objectives, including firstly building a high performance study, secondly encouraging a learning organisation and lastly adding value to the employer of choice and branding agenda.In an article titled A model for talent management in real estate. Deborah R. Phillips et al (2009), proposed a talent management framework for industry practitioners. The framework consists of quin key elements attracting, selecting, engaging, growth and retain ing employees.Firstly, an organisation have to be creative when developing a recruitment strategy and should adopt modern methods of recruiting such as interactive networking sites, open home plate events, referral programs, internships, and online job boards. Secondly, it is becoming more common to include an objective measure of performance, such as psychological assessment, in combination with other recruitment dents in order to improve a companys chances of matching the right person to the job.Thirdly, engaged employees are not difficult to spot in an organisation. They are get outing to go the extra mile to help the customer (Gostick and Elton, 2007). When HR managers measure their own organisations engagement, they immediately want to check ways to improve engagement among all ranks. On their side, Gostick and Elton (2007) report that employees will stay where there is a quality relationship with his or her manager opportunities for personal growth and professional develop ment work-life balance, a touch sensation of making a difference meaningful work and adequate training. Additionally, employee retention is closely linked to an organisations performance management system. Performance management systems should also address how the different generations in the workplace view feedback and the drivers of employee retention.Therefore, the five strategies recommended in the proposed talent management framework measure performance on all sides. It is very effortless to recognise the problem and apply the framework but the toughest part lies in the execution.3.2 Employer of choiceAs the market for well-qualified and experienced job applicants becomes more competitive and with more people credibly to change jobs than they ever have been, employers are becoming increasing aware of the need to manage the image of their organisations that applicants receive. The phrase employer of choice is becoming increasingly common among employers trying to attract new people, and retain key staff.Another point is that the image the organisation creates as an employer and potential employer seems to be recognised as a competitive differentiator in the same way as customer perception has also been held to be. For example, Baver and Aimen-Smith (1996) found that graduates were more likely to apply to organisations that strongly articulate their environmental policies in their recruitment literature, regardless of whether they consider themselves particularly pro-environmental. Moreover, it is serious to recognise, as shown in research by Gatewood et al (1993), that the image of an organisation or company will be perceived differently by different people. This suggests that it is particularly important to present a clear, unchanging and credible image of organisation to potential applicants.Finally, Employer of choice in recognising the importance of talent as a source of competitive advantage, are looking to win talent by tailoring employment in demnity to capture the dynamism of the modern era (Ashton et al, 2002). Typical measures might include package of initiatives such as offering career development opportunities, providing challenging, inspiring, enjoyable and flexible work, providing progressive benefits, paying attention to healthy workplace practices, improving incentives and encouraging participation and open communication (CLC,2000 Hewitt Associates, 2000lowe 2001a)Based on a fact stable gear from the Australian Bankers association Inc, the Australian banking industry aims to be an employer of choice and individual banks have adopted people management frameworks aimed at ensuring that employees maintain a healthy balance between work/life balance, back up by specific policies such as working partly from homethe make-up of the workforce is adjust over time with the broader Australian community and reflectsdiversity, including self-identified disability and ethnicity.3.2.1 Employer of choice strategiesThe global vice president of recruitment for Philips, Jo Pieters, says it is important to include and measure both internal and away elements of an employer branding exercise and also distributively and every employee should act as an ambassador of your brand and that requires a strong and recognised internal and external employee value proposition,One of the most familiar tools of employer branding is employer advertising where organisations use advertising to promote the unique employment proposition they offer potential recruits (Ewing et al., 2002). While advertising is a well accepted tool of employer branding, the employment brand itself encompasses the organisations values, systems, policies and behaviours toward the objectives of attracting, motivating, aligning and retaining the organisations current and potential employees (Gunasekara, 2002).3.3 Branding conceptsBranding has always been an important part of every companys marketing and advertising campaigns. Branding is an ongoing process where all the tangible and intangible elements that render a companys image and reputation are organised and communicated. A brand is a symbol that encapsulates that many an(prenominal) associations that are made with a name (Gardner and Levy, 1995) and many things can be branded (Levitt, 1980) including the company itself. However, Swystun (2007) argues that a brand is a mixture of attributes, tangible and intangible, symbolised in a trademark, which if managed properly, creates value and influence (p.14).Employer branding may be the least known type of branding yet it is becoming more important to organisation. According to the conference Board report on employer branding (Conference Board, 2001) organisations have found that effective employer branding leads to competitive advantage, help employees internalise company values and assists in employee retention.3.3.1 Corporate brandingThe corporate brand provides a source of competitive advantage by legal transfer toget her the company vision, culture and values, with organisational systems and networks, to form a unique organisational value proposition for customers (Knox et al., 2000 Hatch and Schultz, 2003).Moroko and Uncles (2008) contend that consumer, corporate and employer branding share similar characteristics that is, a brand has to be noticeable, relevant and resonant, and unique. Notwithstanding, similarities between corporate branding and employer branding can be observed. According to Ambler and Barrow (1996, p. 187), an employer brand is the package of functional, economic and psychological benefits provided by employment, and identified with the employing company. In addition, parkland et al (1986) categorise brands based on how they fulfill the functional, symbolic and experiential needs.3.3 2Employer brandingEmployment branding is the process of placing an image of being a great place to work in the mind of targeted candidate pool. Employer branding is similar to the concepts of e mployer of choice (Fox, 2003). The link between employer branding and employer of choice has been stated by Harrison Kim (2005) self-made employer branding is built on the employers ability to deliver on its promise and when this happens the organisation becomes an employer of choice.According to Martin et al, (2005) the concept was first discussed by marketing academics and after some delay, by a lagging interest from HR academics. In todays knowledge driven company, all departments play a strategic role in bringing the right kind of people into the organisation. Employer branding is defined as a targeted, long-term strategy to manage the awareness and perceptions of employees and related stakeholders with regards to a particular firm (Sullivan, 2004). Furthermore, it conveys your value proposition the totality of your culture, systems, attitudes, and employee relationship along with encouraging your people to embrace and share goals for success, productivity, and satisfaction bo th on personal and professional levels