By | Abhimanyu Yadav | Virtual HR Specialist I Supporting MSME Growth I HR Tech Enthusiast I Advisor to MNCs in India
A close look at the graph revealed the acceptance rates of our offers made to candidates from competing Banks. During this review conducted at the start of January 2007 at Chennai, India, one figure which was extremely low, stood out for me. It instantly drew my attention, the name was HDFC Bank. So, what was so special about this Bank, which was making their employees refuse much better offers from their competitors? This question intrigued me and I kept on looking for answers through my research, field visits, talking to their current and former employees. I did not experience it first hand till the time, I got a call from their team for a vacant position in the HR Department.
I was doing well in my current role but their reputation as an employer had reached me much before this call and it made all the difference. As a young HR professional, I sometimes wondered how it would be like working for HDFC Bank much before this opportunity came knocking on my doors, such is the power of a strong employer brand.
Employer Brand: It is the image people have about the employment experience at your company.
When I finally decided to move on to start a new chapter, I was not disappointed one bit at all. There was great working environment, interesting challenges at hand, very accessible superiors and fantastic colleagues. Those were some of the best years of my life in terms of learning and where I met colleagues who became friends for life.
Should a company care about investing time and resources to build their employer brand consciously? Consider the fact that a strong Employer Brand:
- Positions your company to attract top talent in a highly competitive market scenario.
- Builds a good reputation about the company in the community.
- Improves employee morale and reduces turnover with a direct impact on bottom line.
Lets understand some of the factors which make up an Employer Brand?
- Unique Value Proposition: It is well known that if you try to be everything to everyone, you won’t be anything to anyone. The company should be clear as to who they want to attract as employees. Listen carefully to what matters to your current employees and why they chose to stay back. That is your Value Proposition.