In today's competitive job market, the title of an "Employer of Choice" is more than just a coveted label; it represents an organisation's commitment to its workforce, its values, and its future growth. But is merely aspiring for this title enough?
The answer is a resounding no. To claim the esteemed title of the “Employer of Choice”, an organisation must align its strategies with deep insights and knowledge about its competition. Let's delve deeper into understanding why this is crucial and how benchmarking fits into the larger picture.
Why being an “Employer of Choice” matters.
Having a reputation as an employer that stands out can be a decisive factor in attracting the best in the industry. Such an employer not only promises competitive salaries but also a conducive working environment, growth opportunities, and an organisational culture that resonates with potential candidates.
The blind spot of many organisations.
However, one might wonder: If the advantages of being an “Employer of Choice” are so apparent, why aren't more organisations achieving this status?
The answer often lies in the lack of awareness.
Most organisations work in silos, focusing on internal improvements and metrics without paying heed to the external environment.
It's akin to an athlete training hard for a competition but neglecting to study and understand the strategies and strengths of their opponents. As a result, their preparation might be misguided, incomplete, or misaligned with the challenges they will face.
Essentially, to truly be an Employer of Choice, organisations must understand how they compare with the other 'choices' candidates have. But very few actually do.
Benchmarking: The game-changer.
This is where benchmarking comes into play. By definition, benchmarking is the process of comparing one's business processes and performance metrics to industry bests or best practices from other companies.
When it comes to becoming an "Employer of Choice", benchmarking provides organisations with a clear understanding of:
1. Where they stand: This involves gauging current internal practices against those of the competition.
2. Where the gaps are: This aids in identifying the areas of improvement or those practices that need revamping.
3. What the competition offers: Knowledge of what competitors are offering helps in crafting unique value propositions.
In essence, to be unparalleled, one must first understand the parallels. Ignorance about the competition can leave even the most advanced organisations behind in the race.
Where to start? The Power of Benchmarking in Candidate Experience.
So, how do you ensure your candidate experience is achieving or work towards the levels needed to be an Employer of Choice? This is where Benchmarcx – the candidate experience and onboarding experience benchmarking platform for employers comes in.
By benchmarking the candidate experience, organisations can:
1. Measure Effectiveness: Understand where their current recruitment process stands in comparison to competitors and the industry at large.
2. Identify Shortfalls: Spot areas in the recruitment process that need improvement or modification.
3. Craft a Unique Value Proposition: By understanding what competitors are offering, organisations can develop a unique candidate experience that sets them apart.
While many facets go into becoming an “Employer of Choice,” the candidate experience is undeniably at the forefront. By benchmarking this experience, companies not only gain insights into their standing but also receive a clear direction on how to enhance their attractiveness to potential hires.
As the adage goes, "knowledge is power." In the context of hiring, knowledge about your candidate experience relative to the competition equips you with the power to attract and retain the industry's best. Dive deep into benchmarking, understand the nuances of candidate experience, and set the stage to truly become an unparalleled "Employer of Choice".
Take our free, 2-min, Candidate Experience Data Diagnostic test and see how you score when it comes to measuring candidate experience.