In almost every business, the cost of human capital is one of the biggest expenses, sometimes as much as 70% of a company's annual budget. Despite this fact, many organizations don't invest in an employer brand plan. Similar to lead generation campaigns that target new customers, this brand communication plan focuses on the talent audience. With unemployment continuing to trend under 4%, and companies' focus on employee recruitment and retention as we all fight in the war for talent, savvy leaders are starting to invest in employer brand strategies as part of their growth plan and competitive advantage. Here's How to Play by the Numbers:

Great Game® practitioners have many shared values, such as a commitment to High-Involvement Strategic Planning, and the belief that every employee can impact the bottom line. Another shared value, which may at first seem too obvious to mention, is an attention to the numbers. As Great Game of Business practitioners, we are attentive, even passionate, about the numbers. To successfully scale and grow our business, this passion and thought must apply to all numbers on the balance sheet. Having a “why” behind every employees’ compensation that can be sustained long-term is critical to keeping top talent around and attracting the best new hires.

Is talent your Critical Number™? While most of us focus on revenue or profit, Jack Stack took the stage at this year’s Gathering of Games and announced that hiring top talent was this year's important focus at SRC. The Great Game of Business Community embraces the idea that its both Money and People that drive results. As Great Game practitioners, I believe we are the coolest companies to work for in the world! However, most of us are just not telling that story to potential employees.

Attracting and retaining talent is expensive. Period. As a Great Game player, you get it - every dollar counts. You also understand that The Great Game of Business is about money and people. So, how about using technology to save you and your team valuable time, and reduce costs in Human Resources? With it taking an average of 40 days and over $4,000 to make a hire and an average cost of $30,000 for losing a good hire, securing qualified talent in a competitive market is no doubt pricey. Investing in digital tools is a great chance to reduce these costs and save time when attracting and retaining talent.

You have probably heard the cliche, "People want to buy from people they know, like and trust." Undoubtedly, you could change that to employees want to work for companies they know, like and trust. Let's have a discussion about attracting talent and employee retention. As growth consultants, we witness companies intensively focus on acquiring new customers and put far less emphasis on customer retention or workforce engagement. These businesses are ignoring critical economic drivers of success. It is essential to establish a People+People Plan to create a positive brand experience for all stakeholders. So how do you build a brand reputation that attracts both customers and employees?