The network effect and how it is changing the face of work at CBA

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Speaking after LinkedIn named CBA as its number one organization in its annual Best Companies list – ranking the top 25 places to work in Australia for developing a person’s career – Ms Lewis said the world of work and that of recruiting had changed considerably over the past three years. decades.

While personal connections have always played a role in recruiting new people, social media and corporate networks like LinkedIn have increased the reach for companies to connect with potential employees around the world, not just in Australia. .

In particular, they can help people both internally and externally better understand and appreciate what a company stands for, what its purpose is and why its values ​​are so important, she says.

This applies just as much to building a company’s internal talent pools that focus on career advancement as it does to competing with other companies for highly sought-after employees in areas such as business analytics. data and technology engineers.

“There’s an aspect to using social channels to make sure people understand the opportunities that exist here,” says Ms Lewis. “It’s less about ‘I’m interested in the job’ and more about ‘I understand the organization and what it stands for’, which I see as a key entry point. Once people are there, they see the opportunities and they stay. Recruitment and selection is just the beginning of the journey. »

It goes far beyond what a specific job can offer from a contractual point of view. It’s not just about what a company stands for and how it does business, but also how much emphasis it places on career development, how much attention it pays to the well- be of each employee and the role they play in their communities and, more broadly, society as a whole.

This is what should be summed up by the “advocacy effect” and which was summed up by the “People Promise” recently launched by the ABC.

Key to the Group’s goal of building a better future for all, the People Promise grew out of the experience of the past two years and in particular how the COVID-19 pandemic has helped reshape support of CBA to customers and its people.

The People Promise aims to create a common understanding across the Group of what people can expect from a career with CommBank and what the business expects of them in return.

Sharing that knowledge and experience through internal and external networks like LinkedIn is a key way to deliver on that promise, says Ms. Lewis.

“We asked our employees why they want to work here and how can we fix it to make our workplace as good as possible.

“The answer was first to do work that matters – for the nation, as we go through a difficult time; the work we’ve done on domestic and financial violence, all of this proves that the work you’re doing here is having a real impact.

“People want a meaningful career driven by purpose. The goal is to have a better future for all. At CBA, we can regularly point out work that offers a better future for everyone. Our goal is not a statement without substance. Connecting to purpose is a compelling proposition for talent.

“Secondly, we often hear people say that they work with so many constructive and brilliant people who really want to do great things. So our ability to unlock your potential does not just grow through training, but you learn a lot by working with other great people is really how we deliver on our promise to unlock potential.

“And third, to be able to provide opportunities for career growth in an organization of our size. We are a large company operating in different sectors requiring a wide variety of skills and abilities and are therefore able to offer different careers that you would not normally associate with a bank.

Continually communicating this to CBA’s global workforce of 48,000 and to people across Australia and overseas is key to the Group’s employee recruitment and retention strategy, hence the focus on the “advocacy effect” and its amplification via LinkedIn, for example.

“What we need to remember is that LinkedIn isn’t just a channel, it’s a network,” says Ms. Lewis. “A lot of employees are referred by other employees, it’s the internal network effect. Reaching out on LinkedIn is the external networking effect.

“Unlike the networks of the past, today our networks are national and international. It’s very powerful for us to be able to attract talent to Australia and maximize talent locally.

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