21
Harvard Business Review
March 2022COMMSTECH HELPS DIFFERENTIATE TRP AS AN
EMPLOYER OF CHOICE FOR UNDERREPRESENTED
TALE NT
SITUATION
Diverse talent representation within T. Rowe’s ranks needed
enhancement, especially within client-facing and leadership
roles.
CORE INSIGHT
Grounded in workforce insights, deploy a scaled, sustained
program to better position the firm as an employer of choice
where underrepresented talent engages most often.
T. Rowe Price, a leading asset management firm, retained
Edelman to better position the organization as an employer of
choice for underrepresented talent, specifically Black and Latinx
professionals in financial services + tech.
Prior to formulating our approach, DXI fielded research to
understand how T. Rowe Price stacked up against talent
competitors in brand awareness / familiarity, trust, and a
candidate’s likeliness to apply. Our research, which will be used
to benchmark program progress, also informed the channel
strategy.
Leveraging insights, our cross-functional team (EE, DXI, MC,
Blue Room) then crafted a full-funnel program mapped to the
candidate journey and strengthened by authentic storytelling.
EDELMAN SUPPORT INCLUDES
- Ongoing candidate research to understand key elements
candidates seek, how they define “employer of choice” and
the firm’s standing against peers - Compelling, human stories to convey the T. Rowe Price value
proposition, resonate with talent and differentiate the firm
amongst talent competitors - Full-funnel marketing programming for precise reach among
passive and active candidates where they engage most [e.g.,
LinkedIn, Glassdoor, Blavity] - Measurement framework and attribution + regression
modeling to more granularly monitor program impact and
trends
RE S U LT S
- Black/African American hires in 4Q2021 = 31.8% (up from
28.8% in 4Q2020) - A consumer-grade marketing model to reach and inspire
talent
“I’m sorry,” Prisha said. “I
don’t want to abandon you all, but
Ishan seems so much happier and
has the potential to make more
money. It’s really tempting to
follow his lead. I have to think of
my own interests.”
So much for family, Diya
thought.
“I see where you’re coming
from,” Diya said, “but let me
present the counterargument.”
She shared all the reasons to stay:
the security, the benefits, the
company’s growth potential, and
yes, the close-knit culture.
But as she was talking, Diya
realized that she wasn’t sure
those upsides were convincing
enough. Would retention bonuses
or pay increases be more compel-
ling? Or was it time to intensify
the downsides of leaving by
instituting a no-working-with-
former-employees rule and
inserting language to the same
effect and noncompetes in all
future employment contracts?
Would carrots or sticks be more
persuasive?RAKESH BOHRA is the senior VP
and head of projects at Pioneer
Urban Land & Infrastructure Ltd. and
a doctoral student in organizational
behavior and human resources
management at the Management
Development Institute in Gurgaon,
India. JYOTSNA BHATNAGAR is a
professor of organizational behavior
and human resources manage -
ment and dean of research at the
Manage ment Development Institute
in Gurgaon, India.It’s time for Blackbird to
lean into 21 st-century
management, embrace the
gig economy, and let more
employees go freelance.
Diya and Veer made the right decision
with Ishan, and they’ll attract moretalent, foster greater loyalty, build a bet-
ter culture, and produce more-creative
work by letting others follow suit.
To keep pace with societal and
technological change, companies today
need to be flexible with—and offer
flexibility to—their workforces. Young
people, particularly creatives, want the
autonomy and variety that gig work
offers. And companies like Blackbird
can greatly benefit—first, by reducing
the danger of having people they can’t
keep busy on the payroll and, second,
by serving clients with curated teams
designed for their specific needs. If
your employees are almost exclusively
full-time, you’re stuck with their skills;How should Diya handle all the
employees who want to follow
Ishan? The exper ts respond.
JOHN H. CHUANG is
the cofounder, chairman,
and CEO of Aquent.152
Harvard Business Review
March–April 2022Experience
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