In the "War for Talent," your brand's reputation and values are key factors for top candidates.
What Is Employer Branding?
In simple terms, an Employer Brand is your reputation among the workforce at large in addition to your employees' perception of you as an employer.
Employer branding is how you market your business to job seekers and potential partners or clients. The better your employer branding, the more likely you will attract top talent within your industry. Also, a positive employer brand can assist you to retain top talent.
Your Employer Brand is what makes your company attractive to potential candidates and valuable to your current employees, beyond the obvious compensation and benefits.
Why Is Employer Branding Essential?
Employer branding is crucial to your success. A proper employer brand can reduce turnover rates by 28%, and cut your costs-per-hire by half. Furthermore, 75% of active job seekers are likely to apply to a job if the employer actively manages its employer brand.
Employer Branding is a critical element of a successful Talent Acquisition strategy. Having an established Employer Brand can help you locate the best job candidates, then attract, engage and hire them. Leading companies use highly developed employer branding and recruitment marketing methods to distinguish their employer brand.
An employer branding strategy enables you to manage and positively impact the narrative and perception of your company to assure higher talent acquisition and retention. Let's look at some statistics about the positive impact of Employer Branding strategies:
95% of candidates specify reputation as a key aspect when considering a new job.
A good employer brand can reduce your cost per hire by 50% and boost the number of suitable applicants by another 50%.
Businesses with proper employer brands average 28% less turnover.
To make up for an insufficient employer brand, companies must offer a 10% pay increase to attract top job seekers.
7 Steps to Build Your Branding Strategy
Successful recruiters know how to design and execute an effective Employer Branding plan. Here are 6 steps to use when building your Employer Branding strategy:
1. Establish Your Employer Branding goals
A practical strategy will be formed by the business’s short- and long-term goals, understanding everything the company wants to achieve and the skillsets it will need to do so. Luckily, matching your employer branding strategy with organizational goals is relatively simple. Begin by defining your goals with a few basic questions:
What goals will the business seek over the next 12-36 months?
What new products and services are planned for the future?
What talent are we missing that could prevent us from meeting our goals?
An employer branding strategy must support the organization solve a problem or accomplishing a goal, and forming actionable objectives is the best way to guarantee this occurs. Some of the common Employer Branding goals include:
Gain more job applicants
Earn more high-quality candidates
Improve online engagement
Improve candidate engagement
Boost Employer Brand awareness
2. Determine your Ideal Candidate Persona
A candidate persona is a representation of your exemplary job candidate. This persona is created by determining the experiences, skills, and traits that make up your ideal hire.
Developing candidate personas benefits guiding your hiring process and identifying the talent that is the best fit for your organization. They also help with employer branding strategy as you better know who you're hoping to attract in how you present your business.
By understanding your ideal candidate, you'll be more equipped to create targeted messages for the candidates that you want to attract. Furthermore, knowing what the top candidates are looking for in a company will help to guide your branding approach to meet those desires.
3. Gain Insight from Your Current Employees.
When job seekers want to learn more about your employer brand, they want to hear from and see real employee testimonials at your company. Utilize your current employees by performing employee interviews or reviews to showcase on your website.
You can also benefit from employees by incentivizing them to share on their social media when you do a cool giveaway or company event. For example, you could organize a company event and hold a panel discussion. Thereafter, ask your employees to post a picture on Instagram or Facebook with a hashtag you've created. This is an engaging way for your own employees to promote your company's culture with their own networks.
4. Define your Employee Value Proposition
An employer value proposition (EVP) is a marketing statement and a pledge, so don't include anything that isn't valid or that your employees wouldn't agree with. You can use your employer value proposition on your company website, recruitment promotion, or LinkedIn company page.
Additionally, your employer value proposition is something your recruiters and HR team can discuss with potential candidates. This is an effective way to differentiate your company from the competition.
Typically, your employer value proposition should not focus on compensation. Rather, you want to produce enthusiasm in potential candidates by communicating your company's positive impact on the world or its deeper purpose. People want to feel their work is meaningful, often even at the loss of a larger paycheck.
An EVP is an opportunity to market your company as something important to be a part of.
5. Optimize Your Channels and Methods for Promotion
There are usually about 10 contact points with candidates before they get hired. Many of these points are also channels for promoting your Employer Brand.
A few channels and ways you can promote your Employer Brand to prospective candidates:
Lectures and Workshops
6. Measure employer branding results
Utilizing strong employer branding is more vital today than ever before. But it’s difficult to see the worth of your strategy without tracking results.
When measuring the ROI of your employer branding strategy, you’ll need to assess its impact on candidates' attention and perception of your business. You can track the engagement your brand receives on social networks and on your website. Also, you can use the interview process to inquire into the influence of your branding on candidates, whether positive or negative. Think about using online review websites and surveys to help you identify the changes that your employer branding is contributing to.
Also, consider setting up social listening topics to gauge the prevailing perception of your employer's brand. This can deliver insight into how people regard your brand and your competitors. It is an easy way to find what you can improve and if your employer branding efforts are working.
7. Hire a Recruiting Agency to Evaluate Your Brand
Mission Box Solutions can help you develop a comprehensive recruitment strategy secured to your overall goals. Ensure your employer branding tactics will be practical and effective with our help!
Contact us to learn more about developing a successful recruiting strategy for modern talent acquisition.
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