Most organizations need to work on how they develop and articulate their employer brand strategies. Just over half of employers claim to have an employer brand strategy (51%), a fifth (19%) are in the process of revising one, and 24% are working towards one. That’s what Bernard Hodes Group learned from our new research, called The Growing Value of Employer Brands.
Of those employers that claim to have a strategy, the average age of it is 4.3 years. The results suggest that many employers are using strategies pre-dating the Great Recession. Relying on an old strategy is a recipe for disaster given the changes in workers’ attitudes wrought by turbulent labor markets and the rise of new channels such as social media.
The survey polled 175 employers across the U.S. in a spectrum of industries from education to manufacturing. About 240 employees were surveyed and were not necessarily employed by any of the participating employers. When comparing the two sets of data, there are some stark disconnects (see the graphic in the upper right). Some of the most noteworthy include:
- Only 25% of employers indicated that compensation is one of the most important attributes of an employer brand, compared with 64% of employees.
- Job security was ranked highly by 41% of employees, but only 21% of employers.
- Just 15% of employers felt that recognition is important in attracting new hires, while 33% of employees ranked it highly.
- Nearly half of employers (44%) felt career growth and advancement opportunities are important to attracting talent, while just over a quarter of talent (27%) agreed.
Looking at the data, one gets the impression that many employers may have lost common sense. keep reading…