Imperative to attract and retain talent

Employer branding has grown in importance lately. The emergence of the digital age and the proliferation of social networking sites have given greater visibility to employer branding. Organizations are increasingly recognizing the importance of employer branding in fostering a positive image of their organizations and driving their talent acquisition strategies.

A recent study[1] showed that 75% of active job seekers are likely to apply for a job if the employer actively manages their employer brand.1This is the power and influence that employer brand plays in the current scenario.

Employer branding in the CRO/CDMO industry

The contract research and development and contract manufacturing organization (CRO/CDMO) was not considered a mainstream industry by job seekers until recently. For technical and research-focused roles, the pharmaceutical and biotechnology industry was the preferred choice.

However, with the increasing complexity of drug discovery and development, pharmaceutical/biotech industries are recognizing the importance of CRO/CDMO players in their operations, which is driving the rapid growth of this sector. It has opened up new career opportunities that allow candidates to work on some of the most cutting-edge scientific projects that can profoundly impact lives.

However, the availability of talent continues to be a challenge within the CRO/CDMO sector which faces fierce competition from already established pharmaceutical players.

Effective employer branding could help CDMOs position themselves as the employer of choice, showcase their evolving work environment and value proposition for attracting talent.

Impact of the employer brand in 2022

2022 is an important year as we hope and expect to better control the COVID-19 pandemic, which has raised several challenges and disrupted the pace of all industries including the CRO/CDMO industry. It not only impacted the health of many people, but also changed the behavior, expectations and priorities of employees.

Previously, compensation and compensation were the most important criteria in choosing a job opportunity. However, today, employees are increasingly prioritizing health and wellness, work-life balance, flexibility, work culture, and health benefits.

So in 2022, employers need to relaunch and revitalize their employee value proposition (EVP) to meet the changing needs and priorities of employees. This has resulted in proactive change prompting organizations to revisit changing equations and expectations to design their EVP.

Employer branding helps show how a company cares about its employees and thus creates a distinct position for itself in the eyes of potential employees and the industry.

Improve the employer brand

Every company has its strengths when it comes to executing employer branding strategies. However, those who succeed are constantly evolving to use the best platforms and resources available to effectively plan and execute these strategies.

Strategies to improve the employer brand revolve around:

1. Create an Employee Value Proposition (EVP)

A good EVP lays the foundation for the employer brand. EVP is an employee-centric approach that helps create a strong brand in the eyes of current and potential employees. A unique, relevant and convincing offer

EVP provides current and future employees with good reasons to choose or stay with a particular employer. This is the most important part of an organization’s recruiting and hiring process. A strong EVP indicates why potential employees should apply for a job at a particular company and what they will get out of it.

EVP is also a great tool for retaining talent and keeping attrition rates low, helping to reduce the cost of recruiting and training additional new employees.

2. Effective Leadership and Corporate Branding

People work for good leaders. Leaders are brands themselves. Encouraging leaders and managers to spend more time in forums, inspiring everyday people about the business and the industry, and participating in external forums help leaders build their own personal brand.

This, in turn, influences employer branding activities. A strong corporate brand based on quality, integrity, customer focus, innovation and excellence will help to further enhance employer branding activities.

3. Social platforms to create a positive corporate image

Social media platforms like LinkedIn allow companies to interact with other professionals and potential employees in the industry. It helps establish a strong employer brand as it is one of the most visited platforms that future employees engage with.

Employers have the advantage of showcasing their company’s ethos and philosophy on these platforms. This turns out to be a good way to attract the right talent.

In summary, establishing a great employer brand is not a one-step process. It is an ongoing journey that requires sustained effort and commitment across the organization, from the leadership team to line managers.

Every employee touchpoint should reflect the brand promise that the company’s brand symbolizes.

Employees today are looking for a great place to work and an amazing workplace experience. Thus, brand strategies play a central role in achieving this. A niche industry like CRO/CDMO needs to take this into account and adopt appropriate employer branding strategies to attract and retain top talent.

(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)