Employer branding often is ignored when it comes to an organization's business decisions. However, an effective employer branding strategy is an investment. A smart business investment at that. A good brand reputation will help recruiting efforts, employee satisfaction, and business growth.
So, what is employer branding? Employer branding is defined as the process of positioning your company as the employer of choice to a target group of potential candidates. It is also the perception your current and potential employees have of your company. Employer branding involves deliberately establishing your company’s values, work culture, and personality to ensure they align with your ideal candidates’ aspirations. This is generally done by establishing your employee value propositions (EVP’s).
EVP’s are a unique set of benefits that an employee receives in return for the skills, capabilities, and experience they bring to a company. For example, at Innosphere we have 3 major values that we stand for. First, is a hybrid work environment where employees can choose to work from home, or the office based on their own liking or comfort. Second, is the opportunity to learn and grow within the company by working with new technologies and a professional development fund. And finally, making a difference within the community by making monthly charity donations and 2 paid volunteer days for each employee towards the charity of their choice. This has allowed us to attract employees that align with our values.
In this current state of recruitment, Recruiters are now taking a more proactive approach to attract the best candidates- even with those who are just passively looking. While Recruiters can adopt various practices when it comes to finding top talent, employer branding is one that will attract candidates and retain them in a more natural way. According to ICIMS, 76% of candidates are explicitly looking for what makes a company an attractive place. Therefore, if you display your EVP’s throughout your website and socials, the right candidates will come to you! Not only that, but even as you seek out candidates, when they learn about your company and do their own research on Glassdoor, that will be a big indicator of whether they will proceed with the interview process. In fact, 55% of job seekers abandon applications after reading negative reviews online (CareerARC).
Employees working at companies with strong employer brands are more invested and present lower turnover rates. This is because happy employees feel proud to be part of their company and can become brand ambassadors unintentionally. For example, they could refer you to great candidates and create a positive impression through word of mouth-a marketing strategy often overlooked. This alone can help to improve your employer brand without increasing your marketing budgeting. According to LinkedIn, companies with a weak employer brand report spending almost double on cost per hire than companies with a strong employer brand.
The recent changes in the way we work has made hiring a lot more difficult for Recruiters, especially as we approach post-pandemic. However, strategizing an effective employer brand can help ease the recruitment process and attract top talent that align with your organization’s values and in turn increase business.