You’re probably already familiar with the idea of a company brand — the reputation you have to the outside world based on your products, team, website and logo, history, office and more. But what is an employer brand?
Your employer brand is defined by the public image of your workplace culture and how you’re viewed as an employer by former, current and prospective employees. In today’s increasingly competitive and candidate-centric job market, it’s absolutely essential for companies to cultivate a positive employer brand to attract and retain exceptional talent.
In order to help employers in this pursuit, we’re kicking off a campaign that’s going to teach you everything you need to know about creating and maintaining an excellent employer brand (sign up for our weekly newsletter here to receive all the content straight to your inbox). To start it off, here’s an overview of the “why.”
Your next hire is going to care
A favorable employee brand is a powerful tool that helps recruit and retain talent. According to Glassdoor, 84% of job seekers say the reputation of a company as an employer is important when making a decision on where to apply for a job. As professionals seek out new opportunities, they will want to join a company that matches their values, work style preferences, offers the compensation and benefits they prioritize, and more. All of these concrete aspects, along with more intangible emotional elements, are rolled up into your employer brand.
The good news is that your employer brand doesn’t just materialize passively. You can take steps to actively craft and maintain an brand identity and as a result, supercharge your recruitment capacity with measurable outcomes.
A recent survey showed that 94% of candidates are likely to apply to a job if a company actively manages its employer brand, and that companies with positive employer branding get twice as many applications as companies with negative brands perceptions. So by treating your employer brand as a strategic priority, you can actually attract a higher volume of top talent to your company and improve the capacity of your teams.
And you don’t just have to take the job-seeker’s word for it! 72% of recruiting leaders worldwide agreed that employer brand has a notable impact on hiring, and 26% of executives said that it was actually the most important recruiting advantage for global organizations.
Where to focus? Online and word-of-mouth are both key
According to a recent study by LinkedIn, the primary obstacle candidates face when searching for a job is not knowing what it’s like to work at an organization. Where do they go for this information? Online. When attempting to learn more about an employer, over half of candidates said that they would first seek out the company’s sites and then their social media handles to learn more.
Clearly, an organisation’s digital presence is key to making a great first impression on talent. Throughout our campaign, we’ll share tips on how to maximize your employer brand through your online platforms including your website, social media posts, LinkedIn and Glassdoor pages, digital job descriptions and more.
But building a solid employer brand can’t just be done online. The same LinkedIn report explained that candidates trust the company’s employees three times more than the company itself to provide credible information on what it’s like to work there. So stay tuned for ideas from us on how to engage your current employees to be excellent brand ambassadors to prospective candidates.
There are financial benefits, too!
In case you’re not already sold, building a strong employer brand can also help you save money and increase recruitment and company efficiency. By boldly and accurately expressing who they are and its workplace culture, a company with a strong employer brand attracts ‘right-fit’ candidates, which decreases the chances of hiring mistakes and as a result, lowers time to hire.
A recent study by LinkedIn found that organisations with strong employer branding incurred half the cost per hire of companies compared to organisation with poor or no employer brands. They also enjoy a 28 percent increase in retention, which is also key to saving time and money (and boosting productivity and morale!).
What’s the catch? Building a strong employer brand is a marathon, not a sprint
As lucrative as employer branding sounds, it is a long-term investment. It is crucial to keep in mind that a company’s brand cannot be created or changed overnight as it takes time to develop and evolve in order to project an authentic brand.
We’re excited to share fresh and actionable employer identity resources with you over the next several months. To receive all of our top tips straight to your inbox, sign up for our weekly newsletter here!
Anything specific about employer branding that you’re hoping to learn? Let us know in the comments below.