Why Responsible Business is a crucial part of Employer Branding
Nadja Scherrer
Managing Partner - Award-Winning Marketing & Brand Strategist - Ex-Apple - Multilingual Leader with 15+ years of International Experience in Business, Brand Strategy, & Social Impact (Sustainablility, JEDI, IC) Strategy.
Your employees are the backbone of your business. They are one of your most important stakeholder group and the most powerful spokespeople of your brand. However, attracting and retaining talent can be challenging.
Studies by SHRMand CAP predict that it costs a business approximately $213,000 to replace a $100k CEO and $30,000 to $40,000 to replace a $60,000 employee in recruiting and training expenses.
Especially nowadays, when Millenials make up the majority of your workforce, surpassing both Boomers and Gen X:
“Millennials were three times more likely than non-millennials to change jobs in the last year, and 91% don't expect to stay with their current organizations longer than three years.“ - Forbes
Source: G2
Today’s employees want a more ethical workplace
Employee protests like the one at Amazon the other day demanding a more ethical workplace are pointing into the direction of the solution. Millenials care about brands and companies that share their values and the Gen Z cohort wants authentic brands.
Employer Branding through CSR
This is why Corporate Social Responsibility has to be aligned with your Employer Branding strategy. CSR is in line with the Triple
Bottom Line reporting system which reflects a business that equally incorporates the three pillars of People, Planet, Profit.
This briefing paper powered by The Economist found that almost three-quarters of respondents to the survey conducted for this report say their business depends on effective corporate citizenship – and that it can help improve the bottom line. The report also states that
“significant companies find ways to channel the passion of their employees into corporate citizenship activities. Such activities help firms to recruit better-quality workers and retain them.“
What we have seen at plus305, accompanying companies on their Corporate Social Responsibility and CSR Communications path, is that implementing a CSR/Sustainability and Marketing Strategy will have a positive impact on all of your stakeholders and your bottom line. As long as it is authentic.