Most businesses would agree that recruitment is costly and time consuming because finding the right person can be quite difficult. The 2014 Federal Government Budget has allocated $2.1 billion over the span of ten years for recruiting and retaining Australian Defense Force Personnel alone. Even the higher end of the market, including the world’s top companies placed considerable amount of effort towards building and finding creative ways to attract the best staff.
According to Australian Employment Statistics, 17 percent of jobs are advertised by word of mouth while 13 percent are filled by the initiative of the person to ask about work. On the other hand, 48 percent of vacancies are advertised on the internet, while 18 percent are posted in newspapers. This means that about one third of vacancies are not formally advertised. The type of recruitment method directly influences the process of attracting applicants. Each approach can entice high numbers of applicants, however, also increasing processing time.
Business Branding and Image
A study made by Collins and Stevens revealed that the branding of a business generally affects the attraction and recruitment context in such a way that the value of an organization’s brand reflects potential employee’s belief that their employment needs will be fulfilled. Higher brand value is perceived as more attractive than those with lower brand value. This can be affected by factors including awareness which is developed through word of mouth, personal experience and marketing strategies.
The employee branding process is a complex process founded in an organization’s mission and values. This is reflected upon the business branding which is transmitted effectively and consistently to employees. In the process, employees are able to understand and experience the brand image they are exposed to. This can also be done through the use of employee engagement ideas such as giving awards, incentives, and even a simple excellent appraisal. This can potentially enhance satisfaction and retention, which in turn positively influences the reputation and profile of the business.
Employer of Choice
A study by Chandler MacLeod in 2007 revealed that 52 percent of job seekers said that they are rarely affected by the claims to be employer of choice, while 5 percent mentioned it as an important factor. Consequently, a research revealed the top themes for human resource success in a best employer survey:
•Training and development
Attractive Employer Attributes
A study determined that a split between the values of job seekers and employees must be solved. HR professionals across Australia believe that they can make their business striking by having these ten most attractive attributes:
•Definitive and strong company values
•Fair pay for a fair day’s work
•Understanding of family and life value outside work
•Attractive salary and financial incentives
•Career development and progression
•Fun and positive working environment
•Training and development
Reputation for valuing of employees
Building a company which attracts applicants takes effort of building a good brand name and reputation for caring of employees. In some cases, a good advertising will also be very helpful to spread awareness of the job vacancy. Maintaining good working relationship with hired employees and those who will apply can ultimately determine the future of one’s business when it comes to its human resources. Keep in mind that recruitment is only the beginning of the process, while keeping them is a more significant task for the management.
Attracting applicants is only one step of the hiring process. Maintaining your employees once hired and minimizing turnover rates in the workplace are the other half of the equation that you'll need to solve.