Why corporate reputation is key to attracting and retaining talented workers - Essay Example

Corporate Reputation as a Key to Attraction and Retention of Talented Workers Organization A good reputation increases the corporate image and provides competitive advantage to the organization. An organization can achieve its goals more easily if it has a good name among its stakeholders (Chibuike, 2011). A corporate reputation attracts and retains many talented workers because they feel as part of the organization when other people or organizations are talking good about the company. The workers are just employees only that they do not work under signed contracts as employees do.

Many people are attracted to work in those famous organizations that have good corporate image because they feel that their rights are more protected than in any organization. Both workers and employees are treated the same and have equal rights. A good name starts from the workers and employees. When they talk good things about the company, many people will be interested to be associated with it both the customers and the suppliers. According to Hayley (2007), suppliers will be more convinced to trust in that organization’s ability to pay and trade fairly with good terms.

If any problems arise between the supplier and the buyer, the suppliers will give the buyer the benefit of the doubt because of the good name for fair dealings. In addition, if the organization has a good reputation, the government regulators will trust it more if it trips up along the way and there will be lesser punishments. A potential worker will be more likely to sign up with this kind of organization for the treatment of employees compared with another organization with unclear reputation.

Chibuike (2011) points out that, many managers believe that, corporate reputation plays a very important role in achieving its goals. A corporate reputation is believed to develop from a company’s uniqueness that make stakeholders perceive it as a reliable and trustworthy organization (Hayley, 2007).These companies believed as being the best, attain their reputations by practicing ordinary management systematically. Workers are mostly attracted and retain in these organizations because of some measurement systems they have: Ethical- the organization is reliable, trustworthy and it is highly respected by the internal and external people.

Workers- the organization has talented workers and employees and it treats both of them fairly hence making the workplace appealing for them thus feeling their rights secured. Customer focus- the organization focuses on customer service and strongly committed to serving them which motivates the workers to remain in that organization exposing their talents to serve others. Financial performance- the organization keeps a record of profitability and supports its workers fully in terms of organizing social events, attending trainings, thus retaining its talented workers to be innovative and productive to the organization (Branham, 2005).

Quality- the organization offers high quality goods and services to its customers and this increases their corporate reputation making workers retain because they also part of the organization. Reliability- the organization depends on its goods and services, therefore, making sure that they provide consistent service to their customers. Social responsibility- it recognizes the importance of social responsibility thus they support the good causes, making every one recognize their talents and become innovative.

According to Johnson & Roberts (2006), there are strategies that make an organization retain more of its workers. This is because the workers are treated like any other employee by being given additional leave and work off days. They also carry over additional hours which are paid for as well as working over the weekends. In addition to that, they make unlimited swipes like breaks for medical attendance. On top of all that, they have staggered leave year to avoid all workers breaking for leave at the end of the year.

A corporate reputation will always attract and retain the talented workers it has because of the greater cost effectiveness and efficiency like savings on overheads. It has the aptitude to attract a higher level of skills because of its more diverse workforce hence reducing recruitment costs. These organizations empower their workers and staff and give opportunities to skilled workers to turn to work while balancing their social and domestic desires. There are also free medical checkups and health screenings and also insurance discounts (Hayley, 2007).

Recruiting and retaining skilled and talented people is a powerful back up for improved products and services. Name recognition and awareness creates greater national awareness hence more ease to local markets recruitment. Increased profitability, increases workers/ employees productivity leading to more retention (Johnson & Roberts, 2006). The workers and employees are the driving forces behind a company. An organization is therefore able to respond quickly towards the changes that occur in the market place and this leads to increased competitiveness of an organization.

Reference List: Branham, L. (2005). Planning to become an employer of choice. Journal of Organizational Excellence, 24 (3), 57-68. Chibuike, R. (2011). Corporate Reputation & Firm Performance: Empirical Literature Evidence. International Journal of Business and Management, 6 (4), 197-206. Hayley, D. (2007). Putting balance into business. Strategic HR Review, 6 (6), 28-32. Jonhson, M. and Roberts, P. (2006). Recruit and retain of the best staff with employer branding. Rules of Attraction, 26 (1), 38-40.