Our recent HR Reflections study told us that 2016 will be a critical year when it comes to attracting and engaging people, but many companies are unsure that they’re in the best place to address some of the challenges ahead.
The good news is we’ve entered the year on the up, as 48% of organisations have seen an improvement compared to the year before, 52% will be focusing on growth, and are 31% looking to increase staff.
Without the right talent, this will be hard to achieve, and 62% of companies feel that it is harder to fill positions now than 12 months ago. 58% feel their leaders communicate a clear and compelling vision.
So how do you bridge these gaps?
Through our conversations with clients we’ve found that they are beginning to think very strategically about the things they need to do to compete, what’s going on outside their organisation, and what creative ideas they can get inspiration from. For an employee engagement strategy, the value of competitive intelligence, access to expert thinkers and social media analysis has become really apparent.
Hang on – strategy research? For employee engagement?
Strategy research is something that you’re more likely to associate with consumer markets and products. It’s a very new idea for employee engagement to come from this angle, especially in the UK.
Competitive intelligence, often referred to as strategic intelligence, allows businesses to better understand their competition, their market, their customers and perhaps most importantly, their employees. Ultimately, the more information you have, the better equipped you are to take action.
We tap thousands of databases and directories
- 900 Business & Trade Journals
- 5,000 directories and reference sources
- 1,500 databases and paid subscription sources
- Over 60 Professional & Trade Association memberships
And we have access to information across a wide spectrum:
- Government data
- Patent applications and archives
- Economic reports and industry benchmarks
- Scholarly journals
- Business news and press releases
- Annual company financials and analyst reports
- Conference proceedings
- Trade journals
- Syndicated market research reports
Understand your competition with competitive intelligence
So how do you stack up against the competition? Our research highlights best practice across industries by studying what makes competitors tick – including everything from organisational structure to marketing materials. Investigating this involves in-depth interviews with industry leaders, as well as current and former employees, and competitors’ customers.
This type of insight becomes really useful when thinking about talent attraction and the fight to get the right people through the door. An in depth understanding of what your competitors are doing can help to inform your recruitment and employer brand strategies – after all, you’ll know exactly what you’re up against.
What are people saying about you? We scour the online social world of forums, blogs, reviews, social networks, news and comments to find out. This helps in terms of not only the conversations that your employees might be having, but what customers think of your brand or a campaign that you have run, and how that customer and employee relationship works.
Bad news travels fast, and often people turn to social media to resolve their issues and vent their frustrations. But they also use it to give positive feedback. Imagine the power it could have if the information were used more strategically internally.
And there’s more
Any time that the question of “What are others doing about X?” comes up, is a time that strategic competitive insights can help.
Whether you’re looking to better understand and enhance your employer branding, explore effective hiring processes, optimize training and professional development, sustain a pool of talent for internal growth, or maintain perceptions as an employer of choice, strategic competitive insights are what you need.