Reputation Institute Launches New HR Solution for Measuring Reputation of Companies as Employers
July 25, 2019 - BOSTON - What keeps data-driven chief human resource officers (CHRO) at the world’s largest companies up at night? The battle for talent -- identifying, hiring and retaining top employees in an economy with a worldwide unemployment rate at its lowest level since the 2008 global economic crisis.
“The global unemployment rate is hovering around five percent so companies are competing harder for the right talent than anytime in recent memory,” said Kylie Wright-Ford, CEO of Reputation Institute. “Given the high costs of recruiting and onboarding the wrong hires, in addition to the impact on employee morale, attracting and retaining top talent is of the highest priority for CHROs and their companies. And as we now know, the primary reason why talent choose companies is no longer salary and career advancement -- but employer reputation.”
Answering the demand for a new solution to help CHROs understand what drives job seekers to choose one company over others and how companies can leverage reputation to attract top talent, Reputation Institute -- a technology-driven provider of reputation measurement and reputation management services -- today introduced Employer RepTrak, the only management solution that measures the reputation of companies as an employer.
“Employer RepTrak is unique among hiring solutions used by HR professionals since it can be configured to the specific audiences tied to internal HR goals,” Wright-Ford said. “For example, a company may want to attract Millennials or Generation Z, while another may want to recruit from specific areas of expertise, such as technical or communications skills.”
Reputation is an Emerging Trend in HR
- Having a good reputation is a top driver considered by young people when choosing a place of employment.
- 84 percent of people would leave their current employer to join a company with a stronger reputation.
- Companies with a negative reputation sustain higher costs of recruitment.
- 50 percent of people say they would never work for a company with a bad reputation.
“While it’s true that a number of traditional factors contribute to a candidate’s decision to select a particular company to work for, it’s irrefutable that a company’s excellent reputation is the key determinant for the majority of job seekers,” Wright-Ford said. \
Employer RepTrak Highlights
- The product valuates employer reputation using a model that includes measures of total rewards, professional development, work environment, products, corporate responsibility, and market leadership;
- Employer RepTrak leverages 26 attributes that shape an individual's perception of an organization through the lens of employment opportunities, and
- Because it’s a predictive measure of behavior, Employer RepTrak links employer reputation with job seekers’ choices including a willingness to work for a company, recommend a company to others, and trust company during turbulent times.
Companies interested in learning more about Employer RepTrak and accessing 2019 reputation scores should visit https://www.reputationinstitute.com/employer-reptrak or https://reputationinstitute.com/contact.
About Reputation Institute
Reputation Institute helps leaders at the world’s largest companies build credibility with the people that matter most -- by delivering data-driven insights about how they are truly perceived. We do this with RepTrak®, an unrivaled technology that provides actionable insights encompassing industry, competitors, and company-level analysis. Past and present clients have included Whirlpool, Barnes & Noble, The Estée Lauder Companies, JP Morgan Chase & Co., LEGO, P&G, Cisco, AB inBev, and Telefonica, among many others. For more information, please visit www.reputationinstitute.com.