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#61: Attracting Top Talents
The One Minute For: Siemens' Employer Branding Transformation, Employee Retention Metrics, Benefits for Talent
Art Voloshyn
June 18, 2024
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IN TODAY’S EPISODE 👀
Audio Version of This Episode
THE ONE MINUTE FOR CASE STUDIES 📋
How Siemens Attract Top Tech Talents
Siemens, a tech innovator, faced challenges in attracting top tech talent, competing with giants like Google and Amazon. The company needed a strong employer brand.
Steps Taken
1. Crafting the EVP.
Siemens developed a compelling Employee Value Proposition (EVP): "Create a better tomorrow with us", supported by four pillars: Customer Impact, Technology with Purpose, Empowered People, and Growth Mindset.
2. Building a Dream Team.
A cross-functional team was formed, involving HR, global communications, and engineers. Their insights ensured the message resonated with tech professionals, not just HR experts.
3. Global Adaptation.
The EVP was tailored to different regions, emphasizing relevant pillars to meet local priorities. For instance, German talent values stability and career progression, while Chinese candidates prioritize innovation and social responsibility.
4. Collaboration and Real Insights.
Siemens didn't rely solely on HR experts. They tapped into their internal tech talent, ensuring the message resonated authentically with the tech crowd.
P.S. On the topic of EVP, we also recommend reading the 25th episode of The One Minute HR Newsletter.
THE ONE MINUTE OF EXPERT VOICE 🎙
 | Key Metrics for Employee Retention |
Gonzalo Shoobridge, Senior HR Specialist at The World Bank, Writer & Blogger, emphasizes the importance of defining clear objectives for an Employee Value Proposition (EVP) strategy. The chosen Key Performance Indicators (KPIs) should align with these objectives, which can vary from attracting top talent to enhancing employee engagement and beyond.
Here, Gonzalo focuses on KPIs for improving employee retention, showcasing how to evaluate and enhance EVP effectiveness in retaining talent. Key Points:
Turnover Rate:
 | It’s the percentage of employees leaving the organization within a specific period, crucial for understanding the proportion of employees who have left relative to the total workforce". |
Retention Rate:
| "This reflects the percentage of employees staying with the organization. It is the inverse of the turnover rate and provides insight into the company's ability to retain its talent". |
Average Tenure:
| "This measures the average length of time employees stay with the organization, helping to understand workforce stability and longevity". |
CLICK BELOW TO CHECK OUT THE NEWSLETTER WE RECOMMEND 👇
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LET’S READ 📖
 |
A crucial aspect of an effective EVP is offering comprehensive benefits. "Benefits Revolution: The Next Generation of Employer-Sponsored Healthcare" by a group of authors is essential for enhancing these offerings.
The book provides insights for HR professionals to create better healthcare at lower costs. Featuring experts like Nelson Griswold and John Quinn, it shares models and strategies for analyzing medical and pharmacy claims data to identify savings opportunities.
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