In the past few years, employer branding has become more than street talk. Instead, it has become essential for employers to brand themselves proactively and attract top talent.
Employer branding is how an organisation is perceived by its current & potential employees. Over time, the way companies recruit and retain employees has changed. Visibly, employers have begun understanding what their organisation can truly offer to job seekers and are turning it into a value proposition.
While there are plenty of employer branding strategies, you must first learn the benefits of employer branding before strategising.
Do you know?
According to Glassdoor, 50% of candidates said they wouldn’t work for a company with a bad reputation even if offered a pay increase.
According to AIHR, an employer with a strong employer brand can experience the following:
- 50% reduction in cost per hire
- 50% more qualified applicants
According to LinkedIn,
- 55% of recruiting leaders have a proactive employer brand strategy
- 59% of recruiting leaders worldwide are investing more in employer brand
The numbers above are enough to justify the importance of employer branding. Let us focus on the advantages of building and maintaining your company’s reputation.
Building your Company’s Reputation: What Difference Can it Make?
By now, you probably have a good idea of the importance of having an employer brand for effective talent acquisition. The following section summarises the ‘why’ of building your company’s reputation.
- Reduces the employee turnover rate
With great candidates comes greater expectations. They are smart and know their expectations from the organisation. But unfortunately, when employees do not receive what they expect, they prefer to exit the company. As a consequence, even the happiest of employees get demoralised. However, the good news is you can enhance employee engagement and retain your people with an impregnable employer brand.
- Attracts the best talent
Apart from retaining existing employees, a well-built employer brand places you in a dominant position where you can attract top talent. Nowadays, job seekers apply for a job only if they feel the employer brand is strong enough. Understand it this way: Your organisation’s mission, values, and culture are clearly depicted through the employer brand and outshine others. Therefore, job candidates would automatically get attracted to your brand.
- Motivates employees
Employees who are happy with their work environment stay more motivated and engaged. And when your people are happy, it generates high productivity levels and makes your employees stay for longer. Besides, they begin relating to the company’s goals & mission. So, in the long run, the existing employees become your brand’s ambassadors, whose voices and figures you can use for employer branding.
- Improves growth rate
Every organisation worldwide depends on its workforce to achieve its aims. That’s where employer branding steps in. Talent acquisition becomes easier for companies having a strong employer brand. If you stay true to maintaining your company’s reputation, you will receive more job applications than ever. Moreover, candidates would happily accept your job offers, which will pave the success path for your organisation.
- Demonstrates your unique culture
While employer branding ain’t a subject you can learn overnight, it takes consistent efforts and involvement of the organisation’s key members. To truly gauge its success rate, you must ensure your work culture is voiced. Look for ways to make your work culture more employee-friendly because candidates love working with companies that value their members. Besides, highlight the diversity within your workforce to crack the success deal over time.
- Conveys your brand value
Preferences of modern job seekers are changing, and they no more accept a job offer just based on the finances offered. In fact, they look for a company’s reputation and the brand built around its mission, vision, and aims. Therefore, you must muster all your resources and efforts to convey the right message to the audience. Unarguable, the market belongs to top talent that isn’t ready to work for organisations with bad reputations.
Final Words
Employer branding encompasses much more than merely attracting job seekers for recruitment purposes. Your organisation’s success journey can be either exciting or terrifying. The latter scenario usually occurs when you don’t prioritise employer branding. However, the HR space around you has adapted to the changing environment, which is making employer branding important. This year is the perfect time to showcase what your organisation is and how it is better than others.
Needless to say, it doesn’t hurt to develop an employer brand to sustain in a bear market where nothing assures continued employee engagement & retention.
Contact us to source and place the most competent candidates within your organisation. We are experienced in delivering Executive Search, Contracting, Recruitment Process Outsourcing (RPO), and Human Resources Outsourcing services to multi-national and domestic firms.
We have provided companies with over 5000 successful mid-to-high-end talent worldwide in recent years. The sectors we serve are:
- Accounting & Finance
- Energy
- Financial Services
- Government & Public Healthcare
- Human Resources
- Legal
- Sales, Marketing & Digital
- Supply Chain & Procurement
- Technology
- Executive Search
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