Employers seeking to attract the talent essential for business growth often miss a crucial step in talent acquisition. Many overlook the importance of crafting a truly compelling and resonant employee value proposition (EVP) that not only draws in but also retains today's workforce. In these talent-scarce times, candidates have more employment choices than ever before. To build a highly effective talent acquisition strategy, it's vital to pinpoint what candidates and current employees truly value when joining and staying with your organisation. While this might sound straightforward, it can be more complex than it appears.
When developing an EVP, your organisation should establish brand pillars that are as inclusive as possible. However, to engage specific skill sets, targeted messaging is crucial for maintaining relevance. While your overall employer brand pillar may highlight the values and promises offered to every employee, it's important to specify what the EVP entails for a particular demographic. For instance, while a strong work-life balance might be a brand pillar your organisation promotes, can you clearly articulate what this means for working parents within your company?
Similarly, you might be looking to attract millennials keen on pursuing an executive career path, but how does your company support this ambition through learning and development opportunities? Equally, EVP messaging that resonates well with workers in one region may have less impact on those in others. For example, companies offering generous healthcare benefits might have less appeal in European markets, where socialised medicine is prevalent, compared to countries with private healthcare systems.
This same differentiation can be applied to various worker segments, including age, gender, and education. With this in mind, how can you develop an attractive employer brand, supported by a robust and relevant employee value proposition? Do you have a clear understanding of what your target talent genuinely seeks in an ideal employer?
a global workforce perspective.
For 24 years, the Randstad Employer Brand Research has meticulously tracked the employment preferences of working-age adults around the world. Our latest research, conducted with input from 12,100 UK workers, 173,000 employees globally, and over 6,000 employers, expands on previous findings, offering insights into workers' outlook by geography, age, industry affiliation, gender, and education levels. The survey also delves into what motivates employees to remain with an employer, specifically exploring the factors that might prompt them to seek better opportunities elsewhere.
In the UK, work-life balance continues to hold its position as the foremost priority for workers, indicating its deep and enduring significance in today's job market. Our latest research consistently shows that this factor is key for UK professionals when considering a new role.
Closely following work-life balance is an attractive salary and benefits package, a factor where the significance increases with age among the UK workforce. While competitive compensation remains a fundamental requirement for even attracting quality talent, it's now more crucial than ever to align with current market rates. If your salary guidelines fall even slightly below prevailing rates in today's highly competitive landscape, you may find it difficult to secure the skilled individuals your business needs.
Even if you achieve parity with the market, it's no guarantee your talent acquisition strategy will be a success. The UK job market, in particular, is experiencing significant fluidity, with job switching behaviour showing a consistent upward trend since 2021 (+3%). Our research indicates that 19% of individuals have changed employers in the last six months, and a further 27% plan to change jobs within the next six months. This dynamic environment means job seekers are actively exploring options, having unprecedented insight into the inner workings of employers through review sites and platforms. They can envision what their professional life would be like within your organisation, assessing whether the environment, culture, and people align with their personal and professional needs.
Crucially, this discerning approach means they're also scrutinising the tangible and intangible benefits your company provides. Beyond salary, understanding what UK workers truly value is paramount. Our latest research highlights the most important factors when choosing a new role and employer:
This information provides a valuable, albeit initial, insight into how to attract and retain talent for your organisation.
Remember that for each demographic within your workforce, the attributes that matter most may differ significantly. Therefore, as you activate your employer brand, ensure your campaigns are highly relevant and targeted.
Here are three tips on how to leverage this research to identify and address gaps in your employer brand efforts:
1. know the strength of your sector
Our research offers a comprehensive overview of worker attitudes globally. To truly strengthen your EVP, it's crucial to understand the specific dynamics and attractiveness of your sector. Each industry has unique characteristics and expectations regarding employer appeal. By delving into the common motivations and preferences of professionals within your field – including their loyalty to the industry, what they seek in an employer, and how effectively leading companies meet these desires – you can gain invaluable insights. This deeper understanding is an essential resource for developing an authentic EVP and overall brand strategy that truly resonates with talent in your specific market.
2. understand regional nuances
Because the research is also available for each of the 32 countries surveyed, you can gain sufficient knowledge to develop localised messaging that resonates most effectively with your target markets and audience. We have also surveyed workers' opinions on the employer brand of top companies within their country.
3. bridge the gender gap
We've also highlighted the differences in attitudes between women and men. This is particularly important as more companies strive to encourage greater female participation in sectors such as IT and financial services. By understanding what attracts female workers to your organisation, you can effectively increase their representation within your workforce and leadership ranks.
Want to learn more about how to build a stronger employer brand and increase your company's attractiveness?