I'm sure by now if you are working in recruitment you have heard of the term 'employer branding'. But what exactly does it mean?
For many people, it means various things, but to simplify it, it is how your company promotes itself in a unique way to attract talent. This may be through storytelling, visual elements, benefit packages, company culture or all of these combined.
Employer branding has been used as a secondary tool to promote jobs, but all of that is about to change. With more companies investing time and money into promoting their unique values to scale their business and attract talent, employer branding is pushing to the forefront of recruitment. By executing it correctly, job seekers will begin to recognize why your company is a great place to work and why they should be applying for your roles.
So by investing in your employer brand what benefits can you expect to see? :
Employer branding is a hands-on undertaking. There is no point deciding to invest in your companies employer brand if you are only willing to spend money on it and no time.
Managing your employer brand is vital otherwise it will go dead in the water and an unmaintained employer brand can actually discourage candidates from applying for your roles. Get all of your employees involved by sharing stores, recording testimonials and allowing them to become your brand ambassadors.
In any size companies, HR professionals know that attracting quality candidates have become increasingly competitive. 92% would consider leaving their current jobs if offered another role with a company that had an excellent employer brand. Using your employer brand allows you to attract candidates who are currently employed and allows them to submit their CV for future roles optimizing your talent pool and recruiting skill candidates.
Data shows that a strong employer brand leads to 50 percent more qualified applicants. With more qualified applications, recruiting teams can spend less on external recruiting firms and reduce the company’s cost per hire.
The main focus of creating a strong employer brand is to strengthen your hiring efforts but did you know that it can also have an impact on improving your employee retention? In fact, companies who prioritize their employer branding usually see a 28% increase in retention.
This is best achieved by ensuring the employer brand is reflected throughout the full lifecycle of employees. For example, if one of your values is to help develop and grow your employees, make sure they have ample opportunity to advance their skills.
Employer branding allows you to easily align the goals of both employer and employees. Employers want their business to grow & be successful and employees want to continue to pus their careers forward. By creating the right branding you can easily align these interests and create a culture of happy and engaged employees that will help to drive innovation and productivity.
Happy employees ultimately contribute to the success of your business. Creating a culture that focuses on your employees, making quality hires and developing that top talent goes hand in hand with building an appealing employer brand.
It may seem obvious, but strong employer branding doesn’t just help attract talent. It can also help you generate new prospects and clients. A well-crafted employer brand leads to a positive reputation among the wider business community. The public will have a better understanding of your company’s mission and values—adding another touch-point for prospective clients.