Employment21 May 2024
What is Employer Branding? Attract, Engage and Retain Top Talent
Presently, the global industry is navigating a constantly changing and fierce environment, making the task of attracting and retaining top professionals increasingly difficult. In order to stay ahead of the competition and effectively appeal to top talent, organisations must prioritise employer branding.
If employee expectations are not met, employees are likely to seek opportunities elsewhere, as people typically change jobs multiple times in their career. Therefore, developing a strong employer brand is vital in retaining top talent.
Employer branding is all about highlighting your company's core values, workplace culture, and overall reputation to both current employees and prospective job applicants. By building a strong employer brand, you can increase employee engagement, loyalty, and satisfaction, which in turn can lead to improved retention rates.
In other words, Employer branding involves using branding strategies in the recruitment process to establish a positive reputation as an attractive employer and attract suitable candidates. It combines various elements such as human resources, internal and external communication, marketing, and public relations to showcase your company to potential employees effectively, both in person and online.
Understanding Employer Branding
Employer branding encompasses the reputation you hold as an employer within your workforce and among job seekers. It involves how you present your company and its values, culture and its philosophy to potential employees.
Having strong employer branding can increase your chances of retaining and attracting top talent, as many employees value working for a company with a positive brand image.
Even if you have successfully built a strong brand for your products or services, this may not be enough to persuade individuals to join or remain at your company. It is important to apply the same branding tactics when promoting your company's leadership, values, and overall culture.
Employer branding is the way companies set themselves apart in the job market to attract and keep talented individuals. In order to attract and retain high-quality candidates, it is crucial for your employer brand to craft and communicate an engaging company narrative that is then spread by employees. You and your employees, as the most potent advocates, must demonstrate through the employer brand and employee branding that the organisation truly is exceptional.
Importance of Employer Branding
Investing in employer branding is crucial for the success of your business. It not only reduces turnover rates and lowers costs per hire, but also attracts top talent who are more likely to apply for positions at your company. Your employer brand is a key factor in showcasing your company as a great place to work, ultimately leading to a positive impact on your bottom line.
Let’s explore the significance of employer branding from various viewpoints:
From the employer's standpoint: Employers strive to attract, hire, and retain top talent for their roles. Establishing a strong reputation as a desirable workplace can help in attracting and recruiting ideal candidates.
From the employees' perspective: Employees who are part of a reputable employer brand tend to feel proud and more engaged. They are likely to share positive experiences and recommend the company to others.
From the candidates' viewpoint: Job seekers often have clear preferences for the type of company they want to work for, based on values and principles. If candidates find a company that aligns with their ideals and preferences, it reassures them that they made the right choice in applying.
How to Get Started With an Employer Branding Strategy
An employer brand strategy is a structured, company-wide plan for showcasing your organisation's values, practices, and personality to your target audience. It encompasses all the benefits and advantages that your workplace has to offer to support and engage your most valuable asset – your employees.
This strategy determines how your employer brand is perceived by your current employees as well as potential future hires. It is crucial for your employer branding strategy to transparently and consistently highlight these key elements to both your existing team and potential candidates in order to achieve three key objectives:
- Stand out positively from your competitors
- Articulate why individuals would want to join your organisation
- Showcase the ongoing growth and enhancement of your brand over time.
To create a strong, authentic employer brand, it is important to first assess your current reputation in the market. Conduct an internal survey, involve a diverse group of employees from each team in informal interviews, and consider feedback from exit interviews. Utilise external resources such as Glassdoor ratings as part of your assessment process.
The perception of target employees regarding the employer brand should be identified and the EVP build to build brand image as an employer. For this it's essential to do an audit and identify the employee persona.
Establishing a strong employer brand is crucial for drawing in top-tier talent. To remain competitive and secure the best emerging talent, organisations must assess how potential hires view their brand.
Recruiting talent through employer branding entails crafting and showcasing an appealing image of the organisation as a preferred employer. Furthermore, a positive employer brand instils a sense of satisfaction and loyalty among employees, transforming them into advocates who spread positivity and recommend high-calibre candidates to the company. This employee advocacy serves as a potent and cost-efficient recruitment tool for attracting top talent.
The key to a successful employer branding strategy lies in fostering employee engagement. Without a workforce that is satisfied and committed, it is challenging to position your company as the top choice for employment and a desirable place to work.
By actively involving employees in shaping the company's culture and values, organisations can create a compelling employer brand that resonates with potential candidates. This not only helps attract top talent but also ensures that the workforce remains committed and motivated, ultimately contributing to the long-term success of the business.
Having a strong employer brand not only attracts new employees, but also plays a crucial role in retaining existing ones. When employees align with the company's mission and values and enjoy a positive work culture, they are more inclined to stick around for the long haul.
Employees who resonate with the employer brand are more likely to feel a sense of belonging and purpose within the organisation. This can lead to higher levels of job satisfaction, motivation, and loyalty, ultimately reducing turnover rates.
Measuring the Success of Your Employer Branding Efforts
Employer branding is the image your company holds as an employer. It highlights the core aspects of your employee value proposition (EVP) and showcases why your organisation is a great place to work. The impact of employer brand and reputation on revenue is widely recognized by many employers, prompting them to focus on building and enhancing their employer brand. The key question remains: how can organisations assess the effectiveness of their employer branding efforts?
The answer lies in monitoring the appropriate employer branding metrics, and we are here to provide you with the top metrics to evaluate your company's employer branding performance.
1. Candidate Quality
2. Cost Per Hire
3. Brand Awareness
4. Source of Hire
5. Number of Open Applications
6. Offer Acceptance Rate
7. Hiring Manager Satisfaction
8. Employee Experience
9. Employee Referral Rate
10. Employee Retention Rate
11. Time to hire
