Brand perception isn’t just a concern for business-to-consumer companies. It is equally crucial for companies in the “business of people”. In today’s increasingly competitive job market, the strength of your employer brand is a key differentiator when it comes to attracting, recruiting, and retaining talented employees. Let’s look deeper into the importance of employer branding and how you can define yours.
What is Employer Branding?
Before moving forward, it’s essential to understand what we mean when discussing employer branding. Employer branding refers to the reputation and popularity of an organization as an employer. It’s how your past, present, and potential employees perceive you. It is influenced by your company’s culture, reputation, employee satisfaction, values, ethos, and career progression opportunities.
The Importance of Employer Branding
Now that we’ve established what employer branding is let’s dive into why it’s so crucial:
1. Attracting Quality Candidates:
A strong employer brand attracts quality candidates. In fact, according to LinkedIn, organizations with strong employer brands see 53% more qualified applicants and are 1-2 times faster to fill positions.
2. Reduced Cost per Hire:
Your employer brand substantially reduces the cost per hire. A strong brand means less money spent on job advertisements and other recruitment tactics, thanks to the passive candidate pool it generates.
3. Employee Retention:
Employer branding is not just about attracting new employees but also retaining existing ones. A strong employer brand fosters loyalty and engagement, thus decreasing turnover rates.
4. Competitive Advantage:
In the war for talent, your employer brand is your secret weapon. It sets you apart from other companies and gives you a competitive edge.
Defining Your Employer Brand
Now that we’ve seen why employer branding is valuable let’s discuss how you can define yours:
1. Identify Your Unique Selling Propositions (USPs):
What differentiates you from other employers? Is it your culture, benefits, career progression opportunities, or perhaps something else? Identify these aspects and make them the cornerstone of your employer brand.
2. Understand Your Employee Persona:
Who succeeds in your organisation? What are their characteristics and values? Understanding your employee persona helps you design your employer brand in a way that appeals to similar individuals.
3. Consistent Communication:
Consistency is key to strong branding. Ensure that your messaging across different platforms aligns with your defined employer brand.
4. Employee Engagement:
Your employees are the best ambassadors of your employer brand. Engage with them, gather their feedback, and ask for their assistance in communicating your employer brand to the world.
Employer branding is no longer an option, but a necessity. Defining your employer brand is a continuous journey and not just a one-time task. It requires regular re-evaluation and monitoring. However, with clear objectives and consistent communication, you can create an attractive employer brand that reaches and resonates with the best talent.