Online Reputation and Talent Acquisition Challenges

Transcription

1 Online Reputation and Talent Acquisition Challenges

2 ONLINE REPUTATION AND TALENT ACQUISITION CHALLENGES In the Internet-dominated era, online reputation not only influences sales and marketing but also talent acquisition endeavor of a business. Even before applying for a job or appearing for an interview, candidates tend to make a thorough research about their would-be employer or company. Their research area includes not just the profile of the company, i.e. what it does, but also how it behaves with its employees or the workplace culture prevailing there. Internet portals have provided them with enough windows to peep into the company and understand its culture before getting interviewed, or accepting its job offer. Hence, it has become important for businesses to have a healthy online reputation.

3 IMPLICATIONS OF BAD ONLINE REPUTATION Increased recruiting costs Companies with bad reputations face challenges to source, offer and onboard new hires. This is a strong deterrent to female job seekers, and also to experienced male workers. Companies with good reputation enjoy the benefit of getting resources at comparatively lower rates. It has been estimated that male candidates on an average require 53 percent pay hike to leave their current employers and accept a job offer from a company with a bad reputation. The pay increase demand goes up to 60 percent in case of potential female candidates. However, in case of accepting job offer from a company with a good online reputation, 32 percent pay increase is enough to entice males and 33 percent in case of females. Bad online reputation also deters unemployed. It has been found that on an average 54 percent of unemployed individuals decline job offers from a company with bad online reputation.

4 Increased retention costs According to a study by Globoforce, employee retention is a major challenge for over 40 per cent of HR professionals round the globe. Bad brand reputation spurs employee retention cost and takes a toll on the operating costs and thereby erodes the profit margin of a business. To cope with the situation, businesses are investing in both formal and value-based talent recognition and appreciation programmes. Factors Blemishing Online Reputation Public disclosure of poor products/services Public disclosure of misconducts with employees Public disclosure of workplace discrimination Public disclosure of scandal Public disclosure of criminal acts An act of vengeance by competitors With the availability of infinite digital channels at no cost, it has become easier for customers and employees to vent out their discontent and angers. Though written in a few characters or words, these expressions have the potential to shatter the online reputation of a brand, and influence other's decisions.

5 What to Do About Reputation Risk Staying proactive is a must-have business etiquette. Don't wait for the eleventh hour to swing into action. Stay ready with your online reputation management strategy or action plan much before it strikes at. Keep monitoring your brand's reputation on regular basis on search engines. Take note of what your employees, customers and other stakeholders think about you. Digital channels including social media, complaint boards, review sites, customer forums, and third-party business watchdog portals like BBB have made it easier for them to express their thoughts. Remember, reputation risks spoils value more quickly than operational risks. Make sure that your stakeholders' interest doesn't get affected or diluted in any way. If comments or complaints are genuine then step into the complainant's shoes and provide the right remedy with due courtesy. Emerge stronger. Don't leave your damage control measures on half-way by witnessing some superfluous signs of improvement. The crisis may be still lying in dormant phase and once the immunity is gone, it would surface again. Adhere to legal framework, wherever required, and without any delay address prevailing challenges related to them. Reputation Risk What Can Techvedic Do Our roadmap of includes Monitoring Scanning and interpreting negative opinions of your customers, employees, partners, strangers, and rivals that surface across different digital channels including search, social media, etc. Managing Encouraging customers, employees, partners and rivals to share their positive experiences by following your website, social media pages, blogs, business posting, etc. Improving Gain actionable insights, and plan and execute counteractive measures in time-bound manner to suppress negative views and improve the digital impression of the brand.

6 TM Online Intelligence ABOUT TECHVEDIC Techvedic is an Informa on and Communica on Technology based enterprise that offers IT and IT enabled business services, IT outsourcing services, merchant payment services, digital media services and cloud based telecom services to startups, small and medium businesses, government and non profits organiza ons. To help clients, adopt and leverage the technology services, Techvedic also offers strategic support, that is, consulta on, planning, deployment, integra on,migra on, training and maintenance TM Online Intelligence