The cost of replacing one employee stands at £30,614 according to a report by Oxford Economics and Unum. And with competition mounting to secure the brightest minds, companies increasingly need to create localised strategies to find new ways to attract and retain the best talent and drive down recruitment costs.
Sky is one forward-thinking company that is using its employee advocates and networks to secure diverse talent and win a range of awards. Below we take a look at the recruitment challenge facing businesses in 2018 and how Sky is getting the edge.
The future of recruitment
Charu Malhotra, an expert in Employer Branding who has worked for Primark, BP and Unilever believes HR is becoming more like Marketing. She says: “The candidate experience has changed and people think ‘I’m no longer going to respond to an ad that feels like it’s for everyone’. We’re moving to more of a consumer marketing model - with personalisation and segmentation – and people are saying ‘engage me, don’t bore me’. Having employees create content and talk about the company they work for is a natural trend that feels right. People don’t trust CEOs or governments in the way they once did but they think ‘I’m going to trust my friend’, as long as it is written in the person’s voice and sounds authentic.”
Companies with a one-size-fits-all recruitment strategy are now perceived to be tone deaf. This is compounded by the fact that trust is low in corporations according to sources such as Edelman Trust Barometer.
Staff churn is a huge problem for HR Managers: it’s a massive time suck to attract the right talent, align them with a business’s vision and culture, only to lose them all too soon. It’s no good for team morale and it sends out the wrong signals about the business.
Prospective candidates can now see way more than previously about a business they have on their radar. On sites such as Glassdoor and Workadvisor candidates expect to be able to research and read authentic reviews of current and ex-employee experiences.
So, how do you identify, entice and retain talent in a competitive market?
In 2018, employee advocacy is a major opportunity to retain and attract the best talent, and reduce recruitment costs through building a more authentic employer brand. Major high street brands have seen a rapid increase in reach and engagement using our own employee advocacy platform Qubist and Advocate Experience Management methodology.
Sky shines with employee networks to secure diverse talent
Sky is an example of an innovative and progressive employer using its employees and social media to improve talent management and the hiring process.
While many brands are lauded for their diversity and inclusion strategy, Sky has gone a step further than most. Sky uses its #lifeatsky hashtag to help employees share their experiences and it is used by some of its most recognisable presenters such as Kay Burley (@KayBurley).
On top of this, Sky has an employee network that includes Parents, LGBT and Women - it has earned them a place on The Inclusive Top 50 UK Employers in December; a list of organisations that promote inclusion and has won awards for being a top employer for women.
As well as a range of recognition schemes for employees who live and breathe its values, Sky is also aware of winning the brightest young talent and runs a graduate and apprenticeship scheme. It will be interesting to see how these initiatives develop under Sky’s recent hire of Debbie Klein to the newly-created role of group chief marketing and corporate affairs officer.
Creating and scaling an employee advocacy programme
If you already have a number of happy, engaged employees who are naturally (organically) talking about your brand with positive sentiment, why not help them spread the word further?
An employee advocacy programme allows brands to switch on their engaged employees by providing them with exciting online content they can share to their friends, family and peers through their own networks about what they enjoy or are proud of about their work.
A programme also helps brands set the tone for communications, something many companies fear when employees share on social media. What if hundreds or even thousands of employees could be better supported to help tell your story?
New tech software such as Qubist allows brands to scale up and measure employee word-of-mouth for sustainable results, so businesses can encourage more employee learning, experiences, networking and voices to be heard.
Find out more about Qubist - Request a demo today