Brand Does Matter
A group of young prospective employees were once asked to pretend they were fish and choose the pond they would like to swim in. On their left, was a water pool with plenty of water plants, fish food and filled with other small and large fish, which indicated that life was good but they had to fight for space as they grew in size. On their right, was a relatively smaller pond with very few fish, all of which were small, and less fish feed. However, it offered the new entrants more opportunity to explore the water body and find their own food. More than 80 per cent chose the first pond.
Their rationale was clear: the bigger pond meant a better life though it would offer less space as they grew…
Brand matters for beginners
In an employee-driven job market where companies vie with one another to offer the ‘biggest and the best’ to the prospective candidate, employer branding has shot up in priority, sometimes even surpassing critical factors such as compensation and job role. I rationalize that when one is younger and embarks on one’s career, the brand of a company does matter. It gives them a greater sense of societal awe and helps reflect a stronger resume. I, however, feels that this ebbs in priority over time.
The brand name is the most important factor at entry level. On a scale of 1-10, most students would place brand name on top. An opinion that is also influenced by parental views. At campus placements, parental consent plays a critical role. Most candidates choose big brands because of this, unless of course they have specialised in niche subjects like robotics which big brands may not offer.”
Brand name is what makes companies employers of choice at campuses. Companies now send students of previous batches as brand ambassadors to talk about the work atmosphere, growth opportunity, salary and other attractions that companies offer. I have seen that in the top 20 colleges, it’s the salary and the job role that matters. Brand name only comes third, but in colleges that are ranked below the top 20, salary and brand name are top priorities.”
When job profile takes precedence
But do perceptions change over the years? As one moves higher in his or her career, do brand names matter or does job role take over? With career growth, one looks at doing things that are more meaningful to one’s sense of purpose. He says employees are more willing to experiment, take more risks and be more entrepreneurial. They may not want to remain a small fish in a bigger pond all their lives, even though the pond may look inspiring from outside. The quality of work, the thrill of doing something beyond ‘prescriptions’ becomes attractive then.
This transition in employee perception with career growth: For employees who have spent three-four years in the industry, brand is high on the list. It is easier to sell the company if it is a reputed brand. For those who have spent five years in any industry, it’s the job role that’s important. Here, technology and the person they are reporting to becomes important. For those with 10 year behind them, the job role becomes the most critical factor. They also want to know about the company’s growth plans, ownership, funding, etc. Here too, about 20-25 per cent are keen on a large firm, but the rest of them are open to anything.
One reason all employees look for big brands is not only because of their current status, but also for reasons of future employability. Senior people do look for companies reputed for processes and systems. A brand is essential to candidates when they attend the interview and in the pre-screening process.Compensation is important, but they may rationalise on this but not on job role if a brand is important. Companies also realise that the better known it is, the lesser the premium it has to pay for talent.
The importance of brand never fades throughout one’s career though it may come down by a notch or two. It’s always the companies that make a song and dance that win talent.
Amit Bhagria
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Tags: Brand, company, interview, matter