The recently released PwC “What Workers Want” report emphasises the importance of focusing on employee attraction rather than purely retention. Eloquent has conducted numerous employee value proposition studies with organisations across Australia and we’ve consistently observed this ever-changing landscape of employee expectations and workplace dynamics.

In response to this shift, I believe it’s crucial for companies to adopt a more proactive approach by focusing on a strong externally facing employer brand. While both aspects are important, it’s essential to acknowledge the changing attitudes and behaviours of employees to ensure future success.

The Shift from Retention to Attraction

According to the PwC report, most Australian workers feel trusted (93%) and engaged (78%) in their roles. However, this sense of trust and engagement does not necessarily lead to loyalty. Over three in five workers who are considering leaving their organisation in the next 12 months also report feeling trusted and engaged. This is particularly prevalent among younger generations, such as Gen Z, who are most likely to leave (37%), followed by senior executives (35%).

Our experience at Eloquent in consulting with numerous organisations on their employer brands echoes these findings. We have observed a growing desire for diverse experiences and continuous learning, especially among younger employees. With this in mind, it’s crucial for businesses to shift the balance of their focus from purely retaining employees, to attracting the right talent by adopting a refreshed approach to employer branding.

The Interplay of EVP and Employer Brand

A well-developed EVP communicates the unique benefits and experiences employees can expect within an organisation. It defines the company culture, values, and opportunities for personal and professional growth. While a strong EVP is crucial, it’s becoming increasingly important to ensure that the externally facing employer brand is just as strong and compelling.

In light of the PwC report findings, it’s evident that employees, particularly younger generations, are more inclined to change jobs frequently in pursuit of diverse experiences. This trend necessitates a shift in focus from internal retention strategies to proactive external branding efforts that attract top talent.

While a strong EVP remains essential, the data suggests that it’s time to shift our focus towards maintaining an equally strong external employer brand. This shift is particularly important considering the growing tendency for employees to change jobs more frequently in pursuit of diverse experiences.

The Self-Fulfilling Cycle of Talent Attraction and Retention

One of the most surprising findings of the study is that the number one priority for your current employees is working with other good employees. This insight underscores the importance of attracting high-performing, experienced talent to your organisation. By focusing on a strong external employer brand, you not only appeal to top-tier candidates but also create an environment where existing employees can thrive alongside equally skilled and motivated colleagues.

When you successfully attract high-performing talent, you set in motion a self-fulfilling cycle that benefits the entire organisation. As new employees with valuable skills and experiences join your team, they contribute to a culture of excellence and continuous improvement. This positive environment, in turn, elevates the experience of all employees within the company, leading to higher levels of satisfaction and engagement.

In essence, by prioritising talent attraction through a robust external employer brand, you indirectly contribute to employee retention as well. Your organisation becomes a place where talented individuals want to work, and current employees find motivation and inspiration from their skilled and driven colleagues. This self-perpetuating cycle of talent attraction and retention ultimately leads to a stronger, more successful organisation that is well-equipped to navigate the dynamic landscape of today’s workforce.

Playing Offence with External Employer Branding

Showcase Your Company Culture
A strong employer brand starts with showcasing your company culture to the outside world. Utilise social media platforms, company websites, and other digital channels to share authentic stories and experiences from current employees. This will give potential candidates a glimpse into what it’s like to work at your company and help them determine if your organisation aligns with their values and goals.

Create And Amplify Employer Brand Videos
The power of storytelling through employer brand videos cannot be underestimated in today’s competitive talent market. Creating visually engaging and authentic videos that highlight your employees and brand champions is an effective way to showcase your company culture, values, and opportunities for growth.

By featuring real employees sharing their experiences and perspectives, you can attract like-minded individuals who resonate with your organisation’s ethos and aspirations. Employer brand videos serve as a powerful tool to demonstrate what sets your company apart from the competition and to convey your unique Employee Value Proposition in a captivating way.

At Eloquent, we’ve found that a strategic approach to amplifying your employer branding videos can significantly increase their reach and impact. By leveraging targeted paid traffic campaigns, with even very modest budgets we’ve seen companies achieve up to 30 times more views on their employer brand videos within their target audience.

This data-driven approach not only boosts the visibility of your employer brand but also ensures that your message reaches the right people—those who are most likely to align with your values and contribute to your company’s success. By combining compelling video storytelling with targeted amplification, your organisation can create a powerful and lasting impression on prospective employees, drawing in the top talent needed for your company’s future growth and success.

Align Your External Brand with Your EVP
It’s crucial to ensure that your external employer brand accurately reflects your internal EVP. Prospective employees should get a consistent message about the company’s values, culture, and opportunities for growth, both from the recruitment marketing efforts and the internal employee experience.

Leverage Employee Advocacy
Encourage your employees to become brand ambassadors by sharing their positive experiences on social media and professional networking platforms. This authentic representation of your company can help to build trust and credibility with potential candidates. Your strongest employer branding ambassadors are your own employees and their stories of growth and transformation at your organisation.

Monitor and Respond to Reviews
Keep a close eye on employer review websites like Glassdoor and seek out feedback from current and former employees. Respond to reviews, both positive and negative, to demonstrate that you value employee feedback and are committed to continuous improvement. These interactions help you monitor and track the growth in your employer branding.

A New Employer Branding Strategy

Strengthen Succession Planning
To mitigate the impact of high turnover, companies should invest in robust succession planning. This involves identifying and nurturing potential future leaders within the organisation, ensuring a seamless transition when employees inevitably move on. By having a clear succession plan in place, businesses can maintain continuity and minimise disruptions.

Invest in High Performers
Deliberately overinvesting in high performers helps to minimise the impact of loss of top talent. This can be achieved through tailored training and development programmes, regular performance reviews, and by providing ample opportunities for career progression. Investing in high performers not only benefits the individual employee but also contributes to the overall growth and success of the organisation.

Articulate Clear Career Pathways
A well-defined career path plays a significant role in retaining talent within an organisation. By offering employees opportunities for growth and development, businesses demonstrate their commitment to their staff’s long-term success. This, in turn, fosters a sense of loyalty and encourages employees to envision a future with the company.

Deliver on Your Employee Value Proposition (EVP)
Above all, organisations must ensure they deliver on their EVP. This means living up to the promises made to employees in terms of work environment, culture, and opportunities for personal and professional growth. A failure to do so can be detrimental to a company’s reputation and ability to attract top talent in the future.

We Can Help You Define And Amplify Your Employer Brand

As the workforce dynamics continue to evolve, businesses must adapt their employer branding strategies to remain competitive in the talent market.

By focusing on a strong, externally facing employer brand in addition to a well-defined EVP, companies can proactively attract the right talent that aligns with their values and goals. At Eloquent, we are committed to helping organisations develop and implement employer branding strategies that cater to the changing landscape of work.

Together, we can build strong employer brands that attract and nurture the talent needed for future success.