Branding, not size is key to attracting talent

A survey conducted by Singapore National Employer's Federation and a strategic consultancy, StrategiCom found that brand is more important that company size in attracting talent.
It says SMEs (small medium enterprises) must focus not on raising salary offers, but on building a forward looking brand to attract and retain quality staff. This would seem sensible for SMEs who often cannot compete with bigger MNCs in terms of salary offers.

How does a company build it's brand? This is not product branding but the branding of the company and how it treats its employees. The areas to focus on are:
1. Build on the values of recognition and appreciation of employee's work
2. Opportunity of career progression
3. Training & development

Identify what is unique about what you can offer to potential employees that differentiate you from the competitor. For example, an entrepreutrial culture, access to top management and an innovative approach. And then, follow up by communicating it CONSISTENTLY. Communicating the employee value proposition consistently is what I think companies fail to do well, even for the larger companies. Consistently means the managers, the policies and benefits are all aligned and do not contradict each other.

If SMEs are serious about attracting and retaining talent, what will work for them is to find out what is unique about the company and the communicate it consistently. Focusing on employee recognition, opportunity for career progression, training and development are however, the bare minimum SME must do because almost all the firms do this (especially even so for bigger companies that have more resources than SMEs to devote to such initiatives)

What are your thoughts?