Let's face it! Companies in India are not the brightest, when it comes to marketing their workplace. This May, I had the opportunity to work with a client in the NBFC sector. One of the several sunrise sectors in India's booming economy, with several verticals finding and establishing their corners like micro-credit, and commodity loans.
The company is huge, based out of Trichur and a 4000 strong workforce spread across India. A strong reason to join? On the contrary, A case of Employer Branding gone terribly awry. The only ones who knew the company were from Trichur and they, who knew, considered it their last option. Incredulous attrition of more than 40% and a growth rate of 80% in employee strength only found them digging themselves deeper in the rut. It roughly translates to 200 employees leaving every month with 300 others joining. In other words, 200 new channels of bad publicity every month.
In support of the company, they were in a stage of exponential growth ant the HR department was not up to the task. As part of the Engagement, several processes were designed and implemented to bring method to the madness. The results of these interventions will show probably one year from now. People continue to leave though. Did we miss a chapter?
Walk in Employer Branding, the company failed to re look their Employer brand need in full. If you have a good product, it is imperative that you create the "Awareness" to sell it to your customers. Companies fail to recognize their Employees as customers. This is quite understandable. India never had a problem with finding talent? No longer.
Prospective employees have choices now. They are leveraging on their network to find them better employment, better work places, better experiences. They are constantly comparing, constantly on the lookout for something better. The consumerist economy has hit the paymaster hard. They are not holed in their jobs and the flush job market is providing them ample opportunities to choose.
Employer branding has never been more important in India. With a booming knowledge economy, shortage of skilled labor and a Services sector led boom. It's high time, employees were given their dues.
You need them more than they need you! It's not a waiting game any more.
Technorati Tags: Employer Branding, NBFC
The company is huge, based out of Trichur and a 4000 strong workforce spread across India. A strong reason to join? On the contrary, A case of Employer Branding gone terribly awry. The only ones who knew the company were from Trichur and they, who knew, considered it their last option. Incredulous attrition of more than 40% and a growth rate of 80% in employee strength only found them digging themselves deeper in the rut. It roughly translates to 200 employees leaving every month with 300 others joining. In other words, 200 new channels of bad publicity every month.
In support of the company, they were in a stage of exponential growth ant the HR department was not up to the task. As part of the Engagement, several processes were designed and implemented to bring method to the madness. The results of these interventions will show probably one year from now. People continue to leave though. Did we miss a chapter?
Walk in Employer Branding, the company failed to re look their Employer brand need in full. If you have a good product, it is imperative that you create the "Awareness" to sell it to your customers. Companies fail to recognize their Employees as customers. This is quite understandable. India never had a problem with finding talent? No longer.
Prospective employees have choices now. They are leveraging on their network to find them better employment, better work places, better experiences. They are constantly comparing, constantly on the lookout for something better. The consumerist economy has hit the paymaster hard. They are not holed in their jobs and the flush job market is providing them ample opportunities to choose.
Employer branding has never been more important in India. With a booming knowledge economy, shortage of skilled labor and a Services sector led boom. It's high time, employees were given their dues.
You need them more than they need you! It's not a waiting game any more.
Technorati Tags: Employer Branding, NBFC
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