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Diverse minds coming together to create something truly remarkable has resulted in some of the world's greatest ideas and technologies. That is why developing a diverse and inclusive talent brand is important for your company. During our third Bizz Buzz episode, we discussed a topic that has been on many people's minds for years: talent branding. What exactly does the term "talent brand" mean?
✅ Why Talent Brand Matters
We've all heard that today's job market is talent-driven, and that job seekers, even those just starting out, have more options than ever before. To put it simply, a talent brand refers to an employer's reputation as a great place to work as well as their talent value proposition. When developing a talent brand for your company, keep in mind that having a unified talent brand will support your efforts to attract and retain diverse talent.
When it comes to recruiting, a company must create a brand that can resonate with and feel inclusive of all types of talent or candidates. Today, talent loyalty is a two-way street. When talent sees what's in it for them in the long run, they'll be committed & productive. According to the Manpower Group report Millennial Careers: 2020 Vision, the top five priorities for talent across generations when looking for a job are money, security, holidays/time off, great people, and flexible working.
🤔 What Constitutes Strong & Inclusive Talent Brand
Working with employers of all cultures, sizes, and team structures, our team at Qwork discovered that attracting and retaining early talent audiences necessitates a strong talent brand that resonates across multiple groups.
Your talent brand is more than what's on your career website, job postings, or social media platforms. It's more than that – it's long-lasting, and it ultimately determines whether someone accepts or declines an offer from your company.
Our early talent recruitment experiences and findings stemmed from our first hand interactions with employers and next-generation talent such as recent graduates and interns.
Successful companies find talent by recognising that certain talent criteria can limit their ability to recruit for diversity. Instead of reviewing resumes, which are often not the best way to showcase one's best self, they understand that the best way to recruit early talent is to abandon rigid requirements such as a certain GPA or X-number of years of internship. Businesses must be able to map skills to roles and attribute that mapping to roles. Change your talent sourcing and segmentation practices to be more skill-based, assessment-based, and democratic.
⭐ Internship Program: The Source of Innovation
Having interns to your company is the most effective way to attract early talent. Consider it an investment, or even a test drive! You'll be able to identify top performers and hire them after their internships are completed. This will save your company a lot of money and allow you to spend less time on recruitment initiatives.
Through internship programs, talent can also have a taste of what it is like to work with your company culture. This would allow them to map out their future career and see whether their skills are aligned to the roles you offer.
Past interns tend to stay with the company and this results in a higher talent retention rate. The generation who are now college students and interns are Millennials and Gen Z who are digital natives that are able tackle new digital projects and generate fresh perspectives. Building relationships with next-generation talent, specifically Gen Z, should be central to your recruiting strategy, as today Gen Z is estimated to account for approximately 24% of the global workforce and the number of Gen Zs in the workforce is expected to triple over the next ten years.
Hiring interns will also help you to indirectly spread the words about your company. Your past interns will share their experience to their network and recommend your company’s internship program.
The definition of D&I (Diversity and Inclusion) is evolving with Millennials and Gen Z. Businesses must learn how to adapt their strategies to attract the next-gen talent and an internship program is the best way to assist you in standing out from the competition and knocking out early talent recruiting out of the park.
Qwork offers the support you need to hire the most qualified interns.
Millennial Careers: 2020 Vision by Manpower Group: https://www.manpowergroup.com/wps/wcm/connect/660ebf65-144c-489e-975c-9f838294c237/MillennialsPaper1_2020Vision_lo.pdf?MOD=AJPERES