In recent years the winds of change seem rarely to drop below gale force. The well equipped businesses navigate choppy waters with agility, flexibility, and application of the latest euphemism, the pivot.
Our work in recent years has led me to believe that when the going gets really tough, the toughest can do worse than to look first to their employer brand for help, rather than the knee jerk slashing and spinning of the business on a sixpence that usually ensues.
Consider the current headwinds:
Geopolitical events have driven inflation to a 40 year high which has inevitably led to the sinking of consumer confidence.
The recent pandemic has produced hybrid working models which demand new motivation and skills that many workforces and their management do not possess.
Social media has destroyed the reputational defences of organisations who talk the talk but fail the walk test (a rainbow logo now widely incurs disdain not respect) .
The job market is currently many employers’ worst nightmare - a shortage of willing recruits and rampant wage inflation.
The expanding influence of ESG benefits many in the long term, but it often comes at a short term cost: potential employees often hold greater expectations of their paymaster’s role in society than did previous generations.
Add to this the current generation’s expectations of wellness, mental health and work-life balance and you have conditions that will batter even the most solid of businesses.
But in this perfect storm the nearest port is often overlooked despite its obvious benefits.
A strong employer brand can provide genuine protection against wage inflation by offering non-monetary value to colleagues (eg sense of purpose, belonging, status, prospects, life balance) which can also increase colleague retention.
It can lower acquisition costs by developing relevant, targeted, distinctive recruitment marketing.
And of course a strong employer brand often leads to raised productivity as more fulfilled colleagues apply their greater skills.
So now is the time for brand and HR teams to unite and focus on the employer brand. The costs are limited and short term, but the potential benefits significant. Furthermore, it provides some solid protection against tomorrow’s headwinds.