Conceptualizing to Gain Competitive advantages
*Raju Kumar Shaw Abstract:
There is a fundamentals shift in how business is conducted. Corporates are moving from labour-based business to knowledge-based business. They are trying to capitalize on their intellectual assets. Today’s businesses are positioning themselves within the new economic realities. By facing these burning issue i.e. Global Markets, technological changing, competitive pressures and developing employees Through Employee Value Proposition on Employer branding seems to be the best way to gain competitive advantage. On one hand, many organizations think that their existence is depend on developing new applications of information technology. But on the other hand, only few organizations believe that the most valuable assets are their employees. Employer branding is defined as a targeted long-term strategy to manage awareness and perceptions of employees, potential employees and related stakeholders with regards to a particular firm. This includes direct and indirect experiences of dealing with the firm. Like actual product branding, organizations have started to invest employer branding as employees are the internal customers of the firm. The employer brand builds an image confirming the organization as a good place to work. Today, an effective employer brand is essential for competitive advantage. With the liberalization of the Indian economy in 1991 and subsequent economic reforms, Indian companies are becoming internationally strategic to utilize the employer brand to attract and retain talent which leads to expand and growth of the business. This paper gives some concept on employer branding and also to examine how Indian organizations with a positive corporate reputation can attract and retain employees. It also focuses to explain the importance, applicability, outcome and creating an effective employer Branding strategy of Indian companies.
Key words: Employer branding, Branding, Indian corporates
*Junior Research Fellow, Faculty of Commerce, Banaras Hindu University, Varanasi
Branding was originally used to differentiate tangible products, but over the years it has been applied to differentiating people, places and firms. Employer branding has become a new approach for gaining an edge in the competitive world. It refers to the process of identifying and creating a company brand message, applying traditional marketing principles to achieving the status of employer of choice. According to Barrow and Mosley “employer branding is used not only to transfer the message of the personality of a company as an employer of choice, but it also has been used to adapt the tools and techniques usually used to motivate and engage employees”. It have also defined employer branding as the development and communication of an organization's culture as an employer in the marketplace. It is the package of functional, economic and psychological benefits provided by employment, and identified with the employing company. It conveys the "value proposition" the totality of the organisation’s culture, systems, attitudes, and employee relationship along with encouraging your people to embrace and share goals for success, productivity, and satisfaction both on personal and professional levels.
2. Significance of employer branding:
Employer branding is a distinguishing and relevant opportunity for a company to differentiate itself from the competition creating its branded factors as its employee satisfaction and happiness resulting in retention, productivity and efficiency. It is a long term strategy to manage the awareness and perceptions of employees, potential employees, and related stakeholders with regards to a particular firm. The employer brand puts forth an image showing the organization...