What happens when a historic, well-established company tries to attract talent in a rapidly changing market? With a new generation that’s dazzled by new enterprise, tech startups and mission-driven firms, legacy companies are often viewed as “old school” and tired by comparison.
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So how are companies supposed to compete for top talent when they’ve been around for decades?
They build a compelling employer brand.
Know your purpose
This new generation is inspired and motivated by purpose. They want to know what you stand for and why. They want to work for companies that create change. A business that wants to be competitive in this environment must begin by defining its purpose, then letting that purpose drive everything it does.
When a company’s purpose truly means something to everyone in the organization, the company has a compelling story to tell.
Tell your brand story
Many channels shape a brand story, including what a company says about itself (essentially its purpose), what employees say about the company and what “everyone” says on social media. In order for a brand story to attract top talent, it must be authentic and consistent. And this only happens when a company’s purpose is put into action every day.
If your purpose is nothing more than a plaque on your wall, your brand story will be hypocritical and inconsistent. Your employees won’t buy in and neither will your potential hires.
Break the mold
In order for a legacy company to attract next-generation talent, its leaders must be willing to break the mold. The same old routine won’t cut it anymore.
For some companies, this involves launching an employee think tank, starting a creative new venture or investing in cutting edge technologies. Bottom line: they’re finding new answers to old questions and they’re not afraid to take risks.
When a company is actively empowering its employees to innovate and create, prospective employees will take notice, and they’ll want to get on board.
