Employment1 Mar 2023
Why implementing an Employer Branding Strategy is important
Your Employer Branding strategy keeps your company ahead of competitors by crafting a positive message about your business and how your people feel about the employee experience. A strong Employer Branding strategy helps to reduce employee turnover and attracts new talent without increasing your recruitment costs.
Some of the essential benefits of implementing an Employer Branding strategy are:
Employment1 Mar 2023
Attracts new talent and reduces employee turnover
Implementing an Employer Branding strategy helps organisations attract new talent as they can more easily see the benefits offered as being valuable to them. It also increases employee morale since the company culture and values enhance employee engagement and development.
Decreases employment costs
A strong Employer Branding strategy reduces overall recruitment costs since employees are more likely to seek you out and less likely to leave your organisation to seek better opportunities. A positive work culture and supportive environment can help keep your employees happy, engaged and more productive.
Employer Branding is very crucial in a fast-changing economic and social environment. Even small, negative word of mouth shared bout an organisation can disrupt your brand image.
In the current job market, the talent is in the box seat. Leading employers understand this and are taking the initiative to create a strong talent pipeline strategy. They focus on creating a recognisable, attractive Employer Brand to attract the talented individuals they need. You can make your company stand out by having your vision, corporate values, mission and Employee Value Proposition (EVP) visible on social media, job boards and review sites. That way, potential job seekers will be able to see the unique qualities that your organisation has over its competitors.
A memorable Employer Brand can benefit your company’s bottom line. You can draw people better suited to your workplace culture, and those who may NOT be an ideal fit can eliminate themselves from the equation. Utilising your Employer Brand to set expectations can benefit reduce your turnover rate and increase belonging and even productivity.
To develop an effective Employer Brand, start with an audit to understand what employees value and enjoy about working in your business.
This audit will help you understand any gaps between the perception versus the reality of the workplace experience. Based on your employee's likes and dislikes for an organisation, combined with a competitor analysis, you can then develop an EVP that is authentic, relatable and differentiating. In turn, this will help you to more quickly and easily attract and retain top talent.
Even your current employees can help you effectively brand your EVP across the industry. Defining and then closing the gap between your current and future Employer Brand helps you transform your employment reputation.
Tips for creating an Employer Branding strategy
Employer Branding is the art of effectively attracting and retaining the best talent in the industry. To build a solid and effective Employer Branding strategy, we suggest keeping in mind the following tips:
1. Always understand your employee's experiences
2. Be sure to communicate your culture and values authentically
3. Develop, share and amplify your EVP
4. Build your Employee Branding strategy around business/talent objectives
5. At the end of every year, reassess the challenges and shortcomings to refine your Employer Brand.
Frequently Asked Questions
Q. How does branding attract talent?
Branding both your organisation and Employment experience is essential for attracting the right customers and employees. Employer Branding can help enhance your employee's experiences across their journey with the organisation and turn them into brand advocates that naturally help attract more great talent.
When your brand image as an employer is positive, your recruitment portals and social media is more likely to be flooded with employee referrals.
Q. Why is it essential to have a strong Employer Brand?
A strong Employer Brand offers many benefits. Some of them are:
1. Helps attract top talent
2. Reduces employee turnover
3. Reduces time and cost to recruit and hire
4. Can improve employee engagement, belonging and productivity
Q. How long does it take to create an Employer Brand?
Successful Employer Branding takes time and effort. As a project, to establish your EVP and launch your Employer Brand generally takes 6 months. However, it typically can take between two to five years to establish an effective brand in the hearts of minds of employees and candidates. Employer Branding is ongoing. It constantly needs to be maintained 24/7, 365 days a year.
Q. How much do I need to invest in an employer brand?
The cost to invest in your Employer Brand can vary depending on the maturity of your organisation. From emerging businesses through to large complex companies with high levels of segmentation, means that a comprehensive Employer Branding project can vary from between $75,000 to $300,000. One of the biggest variables is the amount of research required which depends on your headcount and variability in divisional segments.
Belong Creative has been developing Employer Brands since 2009 for sought-after employers throughout Australia and globally. If you’re embarking on your Employer Branding journey and would like support to ensure your result is authentic, relatable and differentiating then please reach out to us today.
