THE EMPLOYER OF CHOICE. The Strategic Way to Attract, Engage and Retain Talent in Your Community

Transcription

1 THE EMPLOYER OF CHOICE The Strategic Way to Attract, Engage and Retain Talent in Your Community

2 OUR APPROACH OUR APPROACH Phases of Research: Phase 1: Secondary research Phase 2: Survey CEOs and HR Leaders Phase 3: Individual interviews select senior living communities Phase 4: Individual interviews featured organizations

3 AGENDA The Problem of Retention and Turnover Become an Employer of Choice Employer Brand Approach Employer Brand Elements Implementing the Employee Brand Discussion and Self-Evaluation

4 It s one of these interesting dichotomies we ve got our low-paid people who carry the reputation of most of the organization because they re the ones providing quality care. System Chief Executive Officer

5 THE PROBLEM OF RETENTION AND TURNOVER Issues around acquisition, retention and turnover are a top priority TURNOVER is a significant issue with rates ranging from 20 % 30 % Turnover rates are more significant among dining, housekeeping and entry-level nursing Recruitment will become more difficult in next one to five years Employee turnover negatively impacts the satisfaction of residents and their families

6 FACTORS DRIVING TURNOVER TOP REASONS FOR LEAVING Low Wages Low Job Satisfaction Competition from Other Employers Nutritional, Housekeeping & Maintenance Staff Nursing Staff When there s change, it s destructive to everybody. Community Chief Executive Officer

7 CHALLENGES TO TALENT ACQUISITION Top Tier Challenges Hiring qualified people Competitive wages and benefits Culture fit Second Tier Challenges Increased demand Advancement opportunities Reducing employee burnout Legislative and regulatory changes Demographic changes in labor pool Work-life balance Perception of industry

8 If you can break the mindset that it s just about the compensation, that s where you really gain ground with employee retention. It s not just about what they re making in their paycheck. It s about when they leave at night, do they feel good about what they did? Community Vice President, Human Resources

9 WHAT COMMUNITIES ARE DOING TO INCREASE RETENTION AND DECREASE TURNOVER Top Tier Programs Improving talent selection New hire training/orientation Training employees on the culture Improving communications Recognition programs Second Tier Programs Employee training Focusing employees on organization mission Employee engagement program Cross training employees Leadership training for supervisors Improvements to workplace Employee survey

10 RECRUITING AND TALENT ACQUISITION

11 What works is if you can find the right person in the beginning who very quickly can get into the mission and ministry of the organization and feel part of that. Community Chief Executive Officer

12 PATHWAY TO EMPLOYER OF CHOICE Implement Employer Brand Strategy Attract, Engage and Retain Talent Achieve Employer of Choice Status

13 WHAT IS AN EMPLOYER BRAND? An organization s reputation as an employer How people think, feel and experience an organization as an employer Encompasses values, systems, policies and behaviors A strong employer brand helps you attract, engage and retain current and potential employees

14 BENEFITS OF AN EMPLOYER BRAND Top Employer Brand Benefits Include: 1 Ease in attracting candidates Increased employee engagement Reduced recruitment costs Decreased staff turnover Of companies with an Employer Brand: 90 % reported improvements retaining employees, increased engagement and job satisfaction, and more success attracting good candidates 3 $ 125 cost per hire for companies with Moderate/Poor Employer Brands $ 67 cost per hire for companies with Strong/Good Employer Brands 2 70 % believed branding led to improved business results 4 54 % reported an increase in quality of the candidate pool 5 1 Employer Brand International, Employer Branding Global Trends Study Report, LinkedIn, LinkedIn Global Recruiting Trends Survey, Aon Hewitt, 2014 Trends in Global Employee Engagement, Aon Hewitt, 2014 Trends in Global Employee Engagement, CEB, 2014 Employment Branding Effectiveness Survey, 2014

15 APPLYING THE EMPLOYER BRAND

16 EMPLOYEE VALUE PROPOSITION An agreement of exchange: Employer may provide career development, culture, work/life balance and compensation in exchange for skills, a passion to excel, customer orientation and shared commitment to community s mission and values from the employee. EVP must be unique to the community and the type of talent it seeks to hire.

17 Employee Value Proposition An Example Kimberly Clark s People Philosophy

18 HOW TO IMPLEMENT AN EMPLOYER BRAND ASSESS ADOPT SET PLAN ACTIVATE MEASURE

19 IMPACT OF AN EMPLOYER BRAND Poor Employer Brand Weak resident satisfaction Occupancy challenges Low employee engagement Low brand awareness Attrition Declined offers Low productivity Long time-to-hire High cost-per-hire Poor referral programs Strong Employer Brand Strong resident satisfaction Occupancy stable High employee engagement High brand awareness Retention More job offers accepted Revenue goes up More quality applications Lower cost-per-hire Higher number of referrals

20 EMPLOYER BRAND TRUTHS Employer brand must be championed by the CEO and executive team Long-term strategy, not a quick fix Strategic, enterprise-wide HR function versus tactical one Align with and support the corporate brand Infuses employee engagement at every stage of employment and level of the organization Measure regularly-use results to enhance performance

21 EMPLOYER BRAND Questions & Answers