What is employer branding? What are the benefits of having a strong employer brand? How to build a strong employer brand? These questions are undoubtedly trendy among HR professionals. So, this article will help you understand what is employer branding, and its benefits, along with some tips. Read on to find more!
When job seekers start their hunt for a job, they always look for opportunities at companies that are a brand. 86% of workers would not apply for or continue to work for, a company that has a bad reputation. That’s a huge number!
We know that products and services are always branded toward their target audience. Similarly, as an employer, you should put in significant efforts to build a great employer brand to attract the right talent,
It’s a war for top talent out there. In today’s competitive market, considering the impacts of the pandemic as well, having a solid reputation is a must. Companies that are attracting the top talents are doing one thing right- having an impeccable employer brand. So, having a great employer brand is non-negotiable!
Having said that, we do understand that with employer branding being the trending topic in HR, figuring out what works for you might be a tedious process. So, this post will help you in understanding what is employer branding,
What Is Employer Branding?
Are you wondering what is employer branding or employer brand? Well, to put it simply, your employer brand is your company’s reputation as an employer. It is the idea of you as an employer, in job seekers’ minds. So, your employer brand is typically defined by the values and culture that you portray to your potential employees.
Whereas, employer branding is the process of how you build, maintain, and polish your employer brand. It includes the strategies and steps you take to market your company to job seekers and current employees.
Branding as a general term means targeting the consumers. However, employer branding specifically targets a company’s workforce and potential future employees. So, the better your employer branding is, the more top talent you will attract!
Why Is A Strong Employer Brand Important?
After knowing briefly what is employer branding really, you might wonder how important it is. 75% of job seekers consider a company’s employer brand before even applying for a job. The truth is, we cannot overstate at all the importance of having a good employer brand. Here are some amazing benefits of having a great employer brand.
Not having a good employer brand can cost you a lot! But, with a great employer brand, you can reduce your cost-per-hire by a whopping rate of 50%! That’s right! Companies having a bad reputation always end up spending more on employee wages to compensate for it. For example, an HBR report suggests that a 10% salary raise would only tempt 28% of job seekers.
Empowers You To Attract Top Talent
The bottom line is, that great talents want to work with companies with a good reputation. 94% of candidates are likely to apply for a job in a company with a good reputation. Today’s top talents prefer to work for a company that reflects their values. So, a great employer brand is key to attracting top talent!
Boosts Employee Retention
A positive employer brand helps you retain employees in two ways. Firstly, you’ll be able to attract the top talents in the market whom you won’t be replacing soon. Secondly, it enables you to build a great bond with your existing workforce too, and keep them engaged.
Helps In Boosting Employee Morale
Your employer brand is based on how you treat your employees. So, your efforts in establishing and maintaining a great employer brand will boost the morale of your employees. And high and positive employee morale simply means increased productivity.
Builds Credibility Among Customers
A strong employer brand has a huge impact on customer acquisition and retention. It’s simple if you’re a good place to work, your employees will be productive which means that your products would be great too!
Tips To Build An Employer Branding Strategy
Planning, building, and implementing a strong employer branding strategy isn’t easy. Here are some tips that can help you boost your employer branding efforts.
1. Conduct An Audit For Your Existing Employer Brand
It is very important to be aware of what your current reputation is among job seekers and current employees. So, the first step that you should take is to audit your existing employer brand.
You can send out internal surveys, read reviews on sites like Glassdoor, or even conduct polls on social media platforms like LinkedIn and Twitter. So, the ultimate goal should be to know the strengths and weaknesses of your employer brand.
2. Review Your Company’s Values And Processes
To create a strong employer brand, your strategy must be completely aligned with your company’s values, missions, and goals. Also, your recruitment process has a huge impact on your employer brand too.
You can start by identifying your business needs. This will help you to know what kind of talents are suitable for your needs to fulfill your company’s objectives. Make sure your brand is transparent to job seekers throughout the hiring process and as for feedback constantly.
3. Define An Employee Value Proposition (EVP)
An employee value proposition is the sum of total offerings that an organization offers to job seekers as-well-as current employees to elicit their best efforts. It is the complete set of tools and strategies that you implement to attract, engage and retain the top talents.
Make sure that your EVP is not only about compensation. Your main goal should be instilling passion within job seekers. So, you need to express your company’s positive values that bring a difference in the world.
4. Leverage Your Current Employees
What’s the best way to learn about a company’s culture and reputation than the current employees themselves? While applying for a job, your potential employees would love to hear from your current employees, that goes without saying.
So, you can interview your employees for testimonials and ask for their feedback. So, you can leverage your current workforce by encouraging them to spread the word about open positions at your company.
5. Have A Great Onboarding Process
The onboarding process is typically your first impression of a new hire. A negative onboarding experience can have a huge impact on your employer brand. So, it is important to make sure that the new hires have a positive onboarding experience.
So, to build a positive onboarding experience, make sure that employees are engaged throughout. Don’t leave any room for doubts. To help new hires get off to a good start, you must set expectations in terms of how things are going to work in their new jobs.