The Hodes QTrac Employer Brand Index (EBI) is the first index to measure the most critical factors impacting the employer brand. The QTrac EBI is a view into the employer brand through the most critical lens, the employees’ brand experience.
Combining the voices of over 10,000 new hires from Fortune 500 companies spanning across multiple industries, The QTrac EBI provides benchmarks, trend analysis, and insights enabling improvements to the employer brand experience. Employee perceptions of satisfaction are measured across four key areas that impact the overall employer brand experience: source effectiveness, recruiting process effectiveness, brand impact, and retention. Bradley Savoy, Vice President, Hodes QTrac shares with us:
The QTrac Employer Brand Index is unique in that it looks at the employee perspective within organizations over time. As employees reach critical points of tenure (30, 90, 180, and 365 days) their views are compared and trended to further understand how employees perceptions of organizations are shifting based on their experience of the employer brand.
Interesting findings showcase that when an employee does not feel that the environment, culture, and their expectations are matching to reality, they will be less likely to refer a friend to their new employer. Employee satisfaction with environment and culture trended downward from 77% at thirty days of tenure to 61% at ninety days of tenure. These negative perceptions caused the 89% of new employees who were willing to refer someone at thirty days of tenure to decrease to only 65% at ninety days.
As evidenced, and related to the recruiting process, 85% of respondents rated the interview process as the most effective step in the life cycle to ensure a quality candidate experience. Respondents cited general follow up after the interviews as another key gauge of recruiting effectiveness. Companies that provide timely follow up and up-to-date communication with candidates performed well. Further, Bradley goes on to say
Perhaps the most important practice we have learned from our research is that consistent measurement of employee perception is the most important step an organization can take to improve their brand experience.
The Hodes QTrac EBI will be released every six months. A copy of the index is available for free for a limited time. For more information, visit us here.