Employment1 Mar 2023
Importance of Employer Branding in attracting Top Talent
In this rapidly evolving world, how businesses operate has changed forever. To ensure success in hiring and attracting top talent in this new hybrid and remote-working environment, companies must evaluate if their Employer Brand effectively resonates with the job seekers they want to attract.
By creating a solid and impactful Employer Brand, companies can make a positive impression on their employees and attract the right external talent to enhance the workplace.
Belong Creative helps leading employers attract top talent within their industry and beyond, by crafting an Employee Value Proposition, which is the foundation of your Employer Brand.
Importance of Employer Branding
Employer Branding is essential for successful human resources management to support reaching organisational goals.
Employer Branding helps businesses reduce the cost of hiring the best talent pool as the organisation becomes the most sought-after place to work. It also helps to reduce attrition rates, which when unchecked can create a negative influence on workplace morale and ultimately on the end customers of a business.
Moreover, today's market scenario demands businesses to focus on creating a culture with the best talent in terms of efficiency, effectiveness and diversity. Focusing on values, culture and objectives and developing them with the help of employees makes the organisation stand the test of time. More and more employees outside and inside your organisation will then refer you as an employer of choice.
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.