Why Is It Important To Have A Strong Employer Brand?
An employer brand refers to the perception that your current and potential employees have of your company. As an action, employer branding involves intentionally setting your company’s values, work culture, and personality to ensure they align with your ideal candidates’ aspirations. There are still too many companies that try to do employer branding while their existing employees are not happy and satisfied. To be successful in attracting new people, you first need to make sure you’re providing a great employee experience.
The impact of your employer brand doesn’t end once a candidate accepts an offer and completes the onboarding process. The strength of its reputation carries over to the hiring process and employee lifecycle. A strong employer brand in line with your company culture is a powerful force in reducing sales, improving retention and keeping employees engaged. According to Harvard Business Review, employer branding is becoming strategically more important for CEOs, HR and marketing leaders, with a third looking to build their global employer brand by 2020. The goal is to reverse the struggle to find the right candidates and instead let them look for companies with an attractive employer brand and company culture. Therefore, having a strong employer brand that potential candidates can access at any time, especially online, allows them to see their potential fit within your company.
If you have a strong employer brand, your candidates will flock to you, meaning you can spend less on recruitment marketing costs. Why pay for a post on a job board when people are already flocking to your career site? Working for a well-known and reputable company is important to many people, and if you position your company as such, you will attract more candidates for open positions. Employees who work on strong brands are generally more enthusiastic and motivated. Having motivated employees is great for an employer because they are more productive and more productivity means more growth for a company.
Successful employer brands are not so much about companies, but about the people within those companies, including leaders who are on a mission to find, develop, engage and empower great people. An employer brand is an important part of the employee’s value proposition and is essentially what the organization communicates as an identity to both potential and current employees. Similarly, if not more importantly, employer branding is also what employees communicate about their experience working for your organization. A positive employer brand communicates that the organization is a good employer and a great place to work. EVP is a series of offers that you as an employer offer to your employees and use as a magnet to attract new employees.
Profitability: A positive employer brand/reputation can attract and hire the best job seekers, those who are enthusiastic and passionate in their role. This also helps to reduce wear and tear, the savings you can reinvest in your employees. According to LinkedIn research, companies with a weak employer brand spend almost twice as much on costs per hire as companies with a strong employer brand. In addition, some companies spend even more on employee salaries to compensate for their bad reputation. But most job seekers would still completely exclude companies with a negative employer brand. For example, HBR reports that a 10% pay rise would only entice 28% of job seekers.
They will help you better communicate with candidates and modernize your hiring process. According to our Candidate Survey 2020, 82.4% of candidates are satisfied with video interviews as a recruitment method. Organizations Job Marketing with a strong reputation are also much better at retaining talent. With a strategic and strong partnership between HR and Marketing, your employer brand has the power to positively influence your entire team at all levels.
When you have a strong online presence and a positive employer brand, people can read good things about your business online. A company that is less promoted or less well-known may not be as attractive as a well-known company to applicants. All of the above will help you promote your business as a great place to work, with a good company culture, and help you with candidate engagement and experience. You can also keep your websites and social media profiles up-to-date with relevant and interesting information. Make sure you’re also consistent in your posts across all of these channels.
In the same way, we also want these strategies to be available to everyone. So to fully harness the power of your brand, you need to understand its fundamentals. First, how to combine internal and external perspectives to create your Employer Value Proposition, how to target talent, and last but not least, how to use data to make these decisions.