Today’s jobseekers want to know that a company is progressive, trustworthy and diverse. They want to see the real deal – and the best way to accomplish that is with employee stories.
Employers are starting to realize that to gain a true competitive edge in today’s crowded market, you need to take a different approach to hiring practices. Jobseekers are more empowered than ever and they want to know the company they’re applying to is progressive, trustworthy and supportive of diverse talent.
In short, they want to see the real story behind the business – and the best way to accomplish that is by telling employee stories. Here’s how to use them to your advantage.
The battle for top talent is fiercer than ever
There’s a talent-shortage epidemic occurring not just in Australia but right around the world. In fact, a report by Korn Ferry predicts there will be a global talent shortage of more than 85 million people by 2030 – equivalent to approximately $8.5 trillion in unrealized annual revenue.
For senior decision-makers, there’s an important consequence to this talent shortage – the impact on the bottom line. There’s no denying that attracting and retaining the best talent is key to running a sustainable business, or that it boosts financial performance. But at the center of everything is diversity and inclusion.
A study by McKinsey & Company, Diversity Matters, found that of the 366 organizations analyzed, those in the top quartile for gender diversity were 15 percent more likely to see higher financial profits than the national median, while those in the top quartile for ethnic diversity were 35 percent more likely to see higher returns.
The link between diversity, inclusion and financial performance is clear, so adapting your recruitment strategy to target a more diverse workforce could pay dividends in the long term.
Diversity and inclusion drive innovation
But while financial performance is top of mind for the C-suite and key stakeholders, for the employees who keep the business running, there are far more important reasons for attracting a diverse and inclusive workforce.
People want to work in an environment where creativity and innovation are organic. That’s simply not possible in a workplace where everyone comes from the same background, has the same educational credentials and has the same approach to problem-solving. Instead, it’s different backgrounds, different experiences and different ways of tackling problems that breeds true innovation.
This concept is not unique. According to a recent global report by Forbes, diversity and innovation are inextricably linked. Whether they’re from the smallest startup or the largest multinational, 85 percent of business leaders either strongly agree or somewhat agree that diversity is a key driver of innovation. It builds team camaraderie, encourages greater productivity and defines a welcoming culture that thrives on new ways of thinking.
Candidates want to see what your company is really like
It’s all well and good to acknowledge that a diverse workforce can drive both innovation and profits, but how do you actually attract a diverse talent pool? One inventive way to do it – without having to offer an eye-watering salary or cut costs elsewhere in the business – is by sharing the stories of the people who know your business best: your current employees.
By sharing your employees’ stories through video, you can not only showcase what your business does and why it stands out from the competition, but also create a sense of belonging for diverse candidates that’s difficult to communicate through traditional job ads or even company-led branding videos.
According to a report from Lighthouse Research & Advisory, 55 percent of active jobseekers found employee-generated videos to be more credible and trustworthy than company-produced videos. And while videos from hiring managers were the most sought-after, employee testimonials followed a close second.
By providing a personal, honest story direct from your team members’ mouths – rather than a branded company clip – you can intrigue candidates, demonstrate that you welcome candidates from non-traditional backgrounds, and start to build interest from a more diverse and inclusive talent pool.
Businesses are now using video stories to reach a diverse talent pool
There’s a growing number of businesses that are using employee stories to reach diverse, varied talent that may not sit within the traditional industry ‘type’. It’s not restricted to a specific sector or business size, either – in fact, every company can find value in diversifying their teams and creating a more innovative culture.
“When trying to get words on a page to attract people to our various work sites, it can be really hard to resonate what that site experience is like,” says Katie Le Page, the former APAC Lead – Talent Acquisition and Mobility at Incitec Pivot Limited.
“We’d already been using the video platform on our agricultural side to hear from the farmers about what our fertiliser product meant to them. Then we realised we could use video for advocacy to hear from the employees who were working on these fantastic operations, to share their experience and use it for attracting talent.”
Even one of the country’s most iconic brands, Australia Post, is embracing all that video has to offer – right down to sharing employee stories to attract the best talent and create a sense of belonging.
“We use video to trigger emotions that will provoke people to act,” says Danielle Brodie, Diversity and Employer Branding Consultant in Australia Post’s Talent Acquisition team. “We use it to bring to life the lived experiences of people in our organisation, to tell their story, to share how people are experiencing our values and our culture.
“It’s a great way of letting people tell their story so that the external market can hear it from the horse’s mouth.”
The market is no longer driven by employers hand-picking their ideal candidates from thousands of highly talented jobseekers. Instead, it’s the most talented jobseekers who have the upper hand – and they are demanding more from their potential employers. Decision-makers who recognize this and understand that they must adapt their hiring practices are the ones who will reap the greatest rewards. And sharing the real stories of employees through video is a cost-effective and engaging way to do exactly that.
Want to learn more about how to attract a diverse talent pool through employee videos? Discuss your strategy with a Video Specialist in a free VideoMyJob demo today.