You want good employees. Not only are they a pleasure to work with, they make you more money and they save you money. Gallup meta-analysis suggests that when companies select the top 20% of the most talented candidates to fill a managerial position, they generally realize a:
10% increase in productivity,
20% increase in sales,
30% increase in profitability, and a
10% decrease in turnover.
Gallup confirms what numerous recruitment agencies like Talentstar already know: attracting the best candidates requires understanding and communicating three things: your corporate values and purpose, your corporate culture, and your meaningful differentiation from competitors. The best candidates want to see that your brand promise aligns with their values and needs.
Our own experience at Aasman Brand Communications bears this out. The brand clarification process we use today was beta-tested in our own agency, some 12 years ago. Once we put our authentic brand into words, we began communicating our brand promise and difference, and people started noticing.
The first to notice were a couple of staff members who recognized they were square pegs in round holes. We parted ways amicably.
The second to notice was a group of highly qualified people — potential staff with brand marketing and design education and experience. Each was asking about the possibilities or opportunities to come work with us. In every case, their reasons were rooted in the recognition that our brand values and promise reflected their own values and the way they wanted to make a difference in the world.
The third to notice was the bookkeeper who saw the very direct ROI: before we put our brand into words, we had to look pretty hard for 90% of our new hires. After we put our brand into words, 90% of our new hires came looking for us. In fact, the ROI proved to be much greater still in the higher functioning and greater productivity of the new staff, and the increased employee retention rate overall.
Bottom line: people want to work for companies that know who they are, what they stand for, and why they make a difference in the world. Make them want you by giving them a brand to want.
For more on how branding provides ROI that keeps on growing, give my e-book a read.