In the constantly evolving Consumer Packaged Goods (CPG) industry, companies are always looking for ways to attract top talent to stay ahead of the curve.
The CPG industry has always been competitive, with large, global companies dominating the market. However, the rise of e-commerce, the increasing demand for health and wellness products, and the growing trend of sustainability have led to a significant increase in new brands entering the market and established brands launching new products to meet consumer demand.
Why a Strong Hiring Brand is Essential for Attracting Top Talent in the CPG Industry
In such a competitive landscape, a strong hiring brand can make all the difference in attracting top talent to an organization. A hiring brand is the perception of the company as an employer and includes the company’s reputation, culture, values, and team member experience. In a study conducted by LinkedIn,72% of recruiting leaders agree that employer branding has a significant impact on hiring.
Moreover, companies with strong employer brands can reduce their cost per hire by up to 50%.
Attracting Top Talent in the CPG Industry
Attracting top talent in the CPG industry can be challenging due to the competition and the specialized skills required for the industry. A strong hiring brand, however, can make your company stand out and attract the best and brightest people.
To do this, companies need to create a compelling employer value proposition (EVP). An EVP is a unique value that the company offers to its people. According to a recent study, the top factors that job seekers consider when choosing an employer include work-life balance (63%), compensation and benefits (60%), and colleagues and culture (40%).
6 Tips for Enhancing Your Hiring Brand in the CPG Industry
Here are 6 ways a brand can develop a compelling EVP that will bring the type of candidates they want to them:
1.) Develop an EVP:
Companies should develop an EVP that resonates with their target audience and showcases the unique value that they offer to their people. This should both keep them competitive with the offerings of competitor’s hiring brands, while still differentiating themselves. For example, Nike’s value prop is “Win as a team,” which filters across the company’s benefits and life. Their value prop even carries over to their values.
2.) Create a Positive Employee Experience:
Brands should focus on creating a positive employee experience that aligns with their EVP. This includes providing opportunities for career growth, offering competitive compensation and benefits, and fostering a culture that promotes collaboration and innovation. For instance, Nike’s perks align with their emphasis on accomplishing innovation in the world of sport with a team mentality. In keeping with this, team members receive fitness discounts, relocation benefits, and advanced learning opportunities.
3.) Build a Strong Online Presence:
In today’s digital age, having a strong online presence is crucial for attracting top talent. Companies should ensure that their website and social media profiles showcase their culture, values, and unique value proposition to potential employees. They should also engage with potential candidates on social media and participate in industry events and forums.
4.) Leverage Employee Advocacy:
Encouraging team members to become advocates for the company can also help enhance the hiring brand. Companies that create a culture where the team is proud to work for the company – they are willing to share their positive experiences with others. Team members who recommend their company to others perform at high levels, deliver great customer service, and influence their colleagues to improve their performance.
5.) Focus on Diversity & Inclusion:
Diversity & Inclusion (D&I) are important factors for top talent when candidates choose an employer. If they can envision themselves as part of the team and know that their perspectives will be valued and included, they will want to work for the hiring brand. This also benefits the company, as it leads to different ways of thinking, leading to more innovative solutions.
6.) Competitive Compensation and Benefits:
Competitive compensation and benefits packages are essential for attracting and retaining top talent in the CPG industry. Companies should ensure that their compensation packages are in line with industry standards and that they offer benefits that align with the needs and preferences of their people, otherwise they risk losing top candidates to the competition.
Conclusion
In conclusion, a strong hiring brand is essential for attracting top talent in the CPG industry. With the industry projected to continue to grow at a significant rate, companies need to ensure that they have a compelling employer value proposition, a positive employee experience, a strong online presence, focus on diversity and inclusion, and offer competitive compensation and benefits. By following these tips, companies can enhance their hiring brand and attract the best and brightest employees to help them achieve their goals.