Businesses should look to consumer branding strategies to win the war for talent

Research by business advisory firm Deloitte found that retaining potential talent and leadership in the year after the recession ends is one of the main concerns for executives.

Sixty-five per cent of senior business leaders surveyed as part of the study said they have a high or very high concern about keeping their rising stars and future leaders, while an identical number are either highly or very highly concerned about losing critical talent.

The survey also found that just over half (52 per cent) of executives predict an increase in voluntary turnover at their companies at the end of the current recession.

In a new report, Employee Value Propositions, Deloitte argues that to succeed in retaining talent employers should learn from the world of branded consumer goods, where competition for the retention of customers is even more acute. 

Alistair Pritchard, associate partner at Deloitte in Nottingham, said companies have to focus on activity to nurture talent and engage employees.

He said: “Successful companies are deploying ever more sophisticated techniques to attract, engage and retain talented individuals.

“As with previous recessions, any upturn in the economy will unleash pent up demand by employees acting on their desire to move on. Companies really need to be thinking about this and seek to attract and engage those already within the organisation.”

The Deloitte report argues that as successful consumer branding strategy carefully manages every touch point between a brand and consumer, and so must an employer. Similarly a strong employer brand is brought to life across a range of touch points inside the organisation; these include training and development, exposure to leadership and access to social responsibility and community involvement programmes.

Successful brands match their rhetoric with the actual experience and live up to their marketing messages, the report says.

Mr Pritchard said: “A strong employer brand strategy that goes beyond recruitment campaigns and a desire to simply be seen as an employee of choice will be crucial if companies wish to engage and retain employees who generate a disproportionate amount of value and organisational strength.”

 – Ends –



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