Conventional wisdom tells us branding is for external communication ant it aims to influence current and prospective customers. But this view of branding is too narrow. Branding should (and is) used on a large scale in order to attract and retain talented people in your company. Actuals and potential employees are also part of the branding target.
Several surveys have been done to identify various corporate attributes which will attract talent. Here is a condensed list of 10 most popular (brand) attributes and are listed below in the order of their popularity.
1. For People Like Me
2. Fun place to work
3. Innovative Company
4. Training Opportunities
5. Attractive work location
6. Career growth opportunities
7. High Salary or other monetary benefits
8. Familiarity with tasks or Opportunity to do what I want to do
9. Expect success at the task
The order of these attributes may vary a bit, but in an average most surveys have ranked them in the top-10. The top five attributes are universally applicable to both recent graduates and experienced employees, while the last five attributes are more specific to experienced employees.
Identifying the competition is an important starting point for a company trying to decide which attributes it should emphasize at what stage of the recruitment process. Traditional recruiting focuses on functional employment benefits, such as job security; opportunities for creativity and individual growth; and compensation. But an employer’s intangible, emotional associations—”it’s fun to work at this company,” “we have a passionate and intelligent culture,” “there is a strong team feeling here”—are just as important to recruits as similar associations with branded consumer goods are to potential buyers. So companies would do well to compare themselves with their peers on both functional and intangible dimensions.