A strong brand identifies and distinguishes your company from competitors, and is an identity for the business. Branding helps establish the company as a credible and trusted business, and influences company reputation.
Employer branding is an equally important marketing strategy as it establishes the company’s credibility amongst employees and positions it as a desirable place to work at. The employer brand is a mix of the company’s vision, mission, culture and values, and impacts how the organisation is perceived in the marketplace by current employees, recruiters and potential employees.
Employer branding affects the company’s reputation and influences both talent acquisition and employee retention.
Attracting the best talent and keeping employees engaged play an important role in the company’s growth and success. Here are some reasons why companies should focus on building their employer brand:
According to a Glassdoor survey, 75 per cent of the people are likely to apply for a job if the organisation actively builds its employer brand. Also, 86 per cent of job seekers are likely to look up the ratings and reviews about companies before they apply for a position.
Mergers, acquisitions and spin-offs can create uncertainty for employees, some of which can be mitigated by a compelling employer brand. For instance, when Cognyte, a security analytics software firm, spun off from its parent company, it ensured that it retained a strong narrative of the employer brand which was already well-established. By doing so, the business showed respect and loyalty to the existing brand and employees whose enthusiasm also boosted brand awareness. This, in turn, created a sense of trust amongst potential new employees.
Cost per employee is reduced when hiring. Recruiting costs drop when employees are keen to work with a company, and it becomes a faster process. Employee referrals are a powerful way of drawing talent. An established employer brand encourages employees to recommend the organisation to their professional and personal networks. This is far more effective for hiring, in terms of time and money, as compared to the cost and effort involved in typical recruitment cycles .
Managing the employer expectation gap is easier with a solid employer branding strategy, which also helps to establish a company culture in line with employee expectations.
Let’s now take a look at how to create an employer brand.
A good employer branding strategy will manage and influence company reputation. Follow these steps to build your employer brand:
The answers to such questions will help establish the objectives of your employer brand strategy.
The COVID-19 pandemic has caused an abrupt rewrite for organisations across the globe, causing disruption at the workplace. Employee expectations have changed due to uncertain times and new models of working. The EVP needs to evolve to accommodate requirements of remote workers. Attractive compensation packages, flexible schedules that facilitate time off for child care, mental health awareness and support, and fostering connections between employees can all be part of the EVP. Retention is easier when the company offers things that matter to employees. In fact, Google’s EVP clearly lists a hybrid work model and four “work from anywhere weeks” under employee benefits.
Identify groups or individuals who will help HR teams disseminate information about the employer brand. This can include employees, recruitment teams and external recruiters or brand building agencies, who will form the community of employer brand ambassadors. At the same time, you need to have a consistent narrative so that you send a common message.
Regularly update the career pages on the company website to reflect job postings and employee speak. Highlight the EVP, employee testimonials, career path and core values of the company. Responding to online reviews shows that you care about your reputation as an employer. In a Glassdoor survey, 75 per cent users said they would be willing to apply for an open job posting for companies that are active on Glassdoor and reply to online reviews.
Identify the key performance indicators (KPIs) that you are going to use, as also the systems and processes that will help gather the data. The KPIs will be determined by the goals and action plan. Some of the most frequently used metrics include job offer acceptance rate, time to hire, cost per hire, quality of hire, hiring manager satisfaction rate, employee retention rate, new hire retention rate, win/lose ratio, ratings on sites such as Glassdoor or Indeed, employee referrals, and candidate engagement on digital channels.
The pandemic caused the corporate world to turn turtle, and resulted in disruptions to recruitment and hiring. Virtual recruitment and onboarding have become part of the new normal, and companies need to adapt themselves. Also, with greater emphasis on remote and hybrid work, companies need to rework their employer branding ideas and strategies to be able to attract key talent. Here are some ideas on how to do it:
To stay competitive, companies require the best talent, which makes it necessary to strengthen employer brand and fine-tune employer brand strategy.
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