EMPLOYER BRAND AND EMPLOYEE VALUE PROPOSITION

 

Employer branding is the creation of a brand image of the organization for prospective employees. The employee value proposition can be expressed as an employer brand-the image presented by an organization as a good employer (Armstrong, 2006). An organization's employee value proposition in a nutshell, rewards and benefits that are received by employees in return for their performance at the workplace.

 Employee's value proposition also refers to creating a balance between employee's job satisfaction and performance of the employee in work culture. It can be used as an effective tool of employment branding by creating the better recruitment objectives, identifying the needs of employment and the positioning of the employees at the right place, and by creating the values of existing employees in the organization (Deshpande 2019). To create best value of the employment, organizations use strategies. Many organizations create brands in the eyes of its prospective employees. It is important to create employees value proposition by considering all the prospects like policies, programs, rewards, and benefits that will reflect in better commitment from employees (Deshpande 2019).

Benefits of Employee value propositions-

• Reduce staff turnover
• Better employee engagement
• Higher job acceptance
• Recognition as an 'employer of choice'
• Reduce hiring cost
• A tool of motivation

According to Armstrong (2006), an organization expects to become the 'employer of choice'. By employee value proposition, the organization communicates employees that they offer 'the great place to work'. Some of them as as follows,

• Clear Vision and Mission
• Interesting and reward work
• opportunities for learning, development and career progression
• better facilities
• reward systems which recognize and provide competitive pay and benefits. (Lama Ataya ,2016)

All together creates a best value proposition which is being admired by employees. It is the most tactful employee branding tool which is used by organizations .

Banking industry is one of the most competitive industries in Sri Lanka. There are 24 licensed commercial banks as at 30th of October 2020 (Central bank of Sri Lanka, official web page). Competition is too high therefore, there is a huge competition in recruiting the best employee to their own organization. Employer brand and Employee Value Proposition carry a major role as a strategic method in talent acquisition. 

Hatton National Bank, one of the leading banks in Sri Lanka has taken following steps to build a strong brand name and employee value propositions.

• Stability of the organization- Hatton National bank has a great history since 1888. It  is a group of companies which has a group asset base of 1.2 Trillion as at December 2019.
• Awards and rankings- Among best 1000 banks in the world, won several local and international awards. (https://www.hnb.net/about-the-bank/awards)
• Attractive web pages (www.hnb.net)
• Promoting sustainability - CSR activities, donations, specially in current pandemic situation

CONCLUSION-

Employer branding and employee value proposition helps organizations to attract best employees to their organization. That is one of the best strategy to retain their existing employees.

 

references-

Armstrong 2006, handbook of human recourse management practice, 10th edition pg 397-400

 Central bank of Sri Lanka, official Web page 

https://www.cbsl.gov.lk/en/authorized-financial-institutions/licensed-commercial-banks

Deshpande A,2019, Sustainable Employee Value Proposition: A Tool for Employer Branding

https://www.researchgate.net/publication/331320052_Sustainable_Employee_value_proposition_A_Tool_for_Employment_Branding

 Hatton National Bank, official Web page

https://www.hnb,net

Lama Ataya 2016, How employer branding can help your company be perceived as a great place to work

https://www.entrepreneur.com/article/279227