Making the decision to develop and nurture an employer brand can be difficult-and a task that often falls to the backburner. It's not easy to directly tie employer brand to results, or prove ROI for the time and resources involved.
However, 79% of job seekers will consider a company's mission before applying. More than half - 66% - of employees find motivation in a company's mission, and 64% attribute their company's mission to the main reason they stay in their current jobs. Beyond that, your employer brand can optimise more than just hiring; it can positively benefit your entire organisation. Find out how and why you should prioritise it.
Showcase Your Unique Corporate Culture
Corporate culture guides your internal and external identity to align with your organisation's core values and mission. If put time into creating a unique corporate culture, use your employer brand to show it off. But don't just list these unique culture differentiators in your job ad, say talent experts at Yello. They explain:
"Showcasing the perks of your workplace shouldn't be relegated to a tacked-on list at the end of a job posting. To grab a candidate's attention, the unique and compelling aspects of your employer brand need to stand apart from the standard list of dental and 401k benefits. That means thinking beyond a simple job posting or careers page and embracing digital media to highlight your culture and workforce through engaging content."
This content includes social media posts, blog posts, or even interactive landing pages that feature employee images, quotes and videos.
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Get Ahead of the Curve
Only 8 percent of recruiting budgets go to employer branding according to the same LinkedIn report. However, if money wasn't a constraint, 53 percent say they would invest in it more. Instead of waiting for employee brand to be a must-have because all of your competitors are prioritising it, do it now.
Remember that investing in your employer brand can be as simple as giving your marketing team extra time each week to post engaging culture-based content. Start small and work up to a budget that allows you to do more.
Attract Top-Tier Candidates
When recruiting, employer brand plays a significant role in your company's perception and ability to attract high-quality talent. For active job seekers, 84 percent list company reputation as an important factor in their decision to apply to a position, according to recent Glassdoor Harris Polls. Even if you don't develop a public employer brand, job seekers will research your company in other ways. Glassdoor users read at least seven reviews before forming an opinion of a company.
With a strong employer brand, you can control the narrative. When top-level candidates research your company, they're excited to apply.
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Retain Valuable Talent
Currently, 57 percent of workers wouldn't recommend their organisation as a good place to work, according to a The Global State of Employee Engagement report. Combat this challenge by developing a strong employer brand, which can help you engage employees and improve their experience.
Remember: establishing and living your brand can be a collaborative activity that involves your entire team, so start by polling employees on current culture. Once you get feedback-implement changes, and continue modifying and involving employees as the company grows. Keep them involved, show them their opinion is valued, and empower them to build a company culture they can be proud of.
When you do, they'll not only serve as brand ambassadors, but they'll want to continue to work for your company.
Employer Brand Impacts the Bottom Line
While it can be difficult to attribute a dollar value to employer brand, there are instances where it pays off, literally. For example, a bad reputation equates to a 10 percent increase in cost per hire, according to Harvard Business Review. What's more, a new report revealed that one in four British managers would be willing to take a pay cut for a purpose-driven position.
Not only will it cost you less to hire staff if you have a strong employer brand, but you won't have to offer higher salaries as an incentive to overcome a poor reputation. An employer brand allows you to showcase yourself as a purpose-led company and reap the financial and hiring benefits of that.
Invest in Employer Branding
Employer branding helps drive positive PR, attract new employees, and keep employees engaged and excited to work for you. Use this opportunity to control the narrative about your company while setting yourself apart from other companies as a unique brand to work for.