In Randstad's employer branding research we identified what employees want from an employer. Now you need to look at whether you fit the bill.
When trying to attract top talent, the main questions you should be asking yourself are:
- What do potential employees want?
- What motivates them to take a closer look at your business and choose you over another?
- How can my brand attract the best employees?
After conducting the world’s largest independent employer branding survey – which included 200,000 working-age respondents across Europe, the Asia-Pacific and the Americas – we discovered the answers to these questions.
While the findings show that financial security remains the overwhelming motivator for people, if you're not in a position to give pay rises or provide strong salary and benefits packages, there are other offerings that appeal.
In Australia, the top five things that employees want from an employer are:
- 56% - salary and employee benefits
- 51% - pleasant working environment
- 51% - job security
- 49% - good work/life balance
- 38% - convenient location
Creating a pleasant work environment for people is something that can come at minimal cost to the business, and is as simple as making people feel happy to wake up in the morning and be at work. People want to enjoy their work, enjoy who they work with, to be part of a team, share a sense of commitment and feel like there are open lines of communication between colleagues and management.
However, as a manager it's important to be aware that different age groups are motivated by different things at work:
- 18-24 year-olds often want good training, global career opportunities, a business with strong image/values and environmental awareness
- 25-44 year-olds want more work life balance and workplace flexibility
- 45 + year-olds want salary and job security
It’s important to note that every business, no matter its size, has an employer brand, whether it’s consciously established, diligently nurtured or the product of benign neglect. It serves as an organisation’s billboard embodying their values, culture and workplace environment to their stakeholders; the customers, investors and employees who collectively are the business. If you want to attract top talent, you need to look critically at your employer brand and think about the image you are projecting to potential employees.
It’s not surprising that organisations with well-known, well-liked brands have 28% better employee retention. As well as knowing what will make people want to stay, it's important o be aware of why they would want to leave. Randstad identified the main reasons employees leave their job:
- 51% cite lack of career growth opportunities
- 39% say compensation was too low
- 36% leave because of poor leadership
- 84% say they would leave to get hired by a company with a better reputation than their current employer
Your employer brand is your organisation's most valuable asset. To find out how you can improve your public perception and attract the best talent, visit www.randstadaward.com.au or speak to a Randstad recruitment consultant.