Awards and recognition seem to be losing their sheen when it comes to attracting and retaining employees. Only 6.2 percent of the employees in an exclusive survey by job portal Naukri for Moneycontrol in July said they would choose an employer based on the awards and recognitions it got, compared with 61.5 percent who said they would pick a company recommended for a good work culture.
Online reviews (22 percent) and popular HR practices (10 percent) were the other important factors that influenced employment decisions. The findings from the survey of over 42,000 candidates goes against the goals of companies with strategies to grab awards and recognition to boost employer branding.
Udaipur-based Amit Deopura, a revenue manager at a hotel chain, compared HR-related awards to “Bollywood awards”. “There were very few companies that justified the awards they got. Recently, my company got the award for most progressive HR policies. However, many of my colleagues and I left the company only because of its HR policies,” he said, adding that HR awards don't mean anything most of the time.
Ambi Parameswaran, founder of a platform called Brand-Building.com, said anything in excess is bad and loses value – and awards are no exception. “Not all awards are to be scoffed at. Some of them are based on rigorous analysis and are not paid for. Any award where a company pays to participate will get gamed. That said, employees who want a good working environment depend on reviews from friends and websites to form their opinions. Awards are only a way of validation,” he said.
Experienced professionals
Although good work culture is of prime importance across industries, cities, experience, roles, and functional levels, its importance increases for experienced professionals while considering their next employer.
Good and positive work culture holds more importance for employees with over 10-20 years of experience (61 percent) than for freshers (44 percent) and those with less than five years of experience (51-54 percent).
On the other hand, the importance of online reviews tapers as the experience of jobseekers increases. While freshers have the most interest in online reviews of companies (24 percent), the number dwindles to 13 percent among senior employees with more than 20 years of experience.
According to Amandeep Kaur, founder of Phoenix TalentX Branding, as professionals mature, reliance on online reviews seems to wane. This can be attributed to seasoned professionals having a more extensive network and relying on first-hand accounts and referrals.
“Their accumulated experiences also equip them with a discerning eye, allowing them to sieve through marketing facades, hurting reviews from disgruntled or underperforming employees to be able to identify genuine employer value,” she said.
Sector-wise, those in the BPM and technology sector consider employee reviews the most, compared with candidates in other segments.
Employer branding
The typical purpose of employer branding is to attract and retain talent by communicating its value proposition. Experts said awards are “somewhat a part of it” as they act as a validation of the message that is sought to be conveyed.
However, Kaur said the modern professional is astute, seeking transparency and authenticity and inclined to value tangible benefits, growth opportunities, and a harmonious work environment over trophies.
“To rejuvenate their branding strategy, employers must pivot towards a more holistic approach. This includes showcasing real stories, emphasizing employee growth trajectories, and building a brand rooted in authenticity and genuine value,” she said.
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