Employer branding will help you hire and retain talent alongside creating a strong work culture
What is employer branding?
Every organization has a reputation which is a collective sum of how the stakeholders view it in terms of its history, leadership, work culture, etc. The reputation also includes the difference made in the lives of people by an organization’s products and services, and how they are perceived. The third component of the reputation is how an organization is viewed as an employer. It is the employer brand and the perception that the current, former and future employees have regarding the organization.
Why is employer branding important?
With the ever-growing competition in the world of business, the importance of employer branding, today, has become a necessity for organizations striving for success. A good brand value helps organizations retain and hire the best talent available in the market, while at the same remaining at the forefront of the competition. According to the trends in recent years, candidates are more likely to apply for jobs at organizations that have active branding. Each organization has a unique Employer Value Proposition (EVP), which is a sum of what the organization offers to its current and future workforce. It is also a good indication of how the target audience of the organization perceives them.
The EVP comprises the entire employment lifecycle, starting from the interview experience until the exit of the employee. A strong EVP will have a healthy dose of leadership, organizational values, work culture, etc. All these components are vital to have positive employer branding. If there are top-notch products and services but no positive employee experience, there are high chances that the business and overall will get affected. It will lead to higher attrition rates, negative reviews on social platforms which could directly affect the hiring process. An organization with a good employer brand will have low attrition rates and increased spending on hiring can be prevented.
How to have a better employer brand?
- Conduct an employer brand audit –
The current standing of an organization in terms of the perception of stakeholders can be determined through surveys and searching the social media for related trends and stories about the organization. The gaps can be identified and aligned with the organization’s values and culture for improvement of overall employer branding value. - Define the Employer Value Proposition –
The EVP must have a strong USP to set it apart from the organization’s competition. It must clearly define the specialities of the organization, in line with the organization culture for better employer branding. - Have a tactical approach towards recruitment –
The recruitment and talent hunt process must have a proper employer branding strategy with the right blend of employer brand marketing. Understanding the right “what, why and how” of reaching out to candidates can make a real difference in attracting the best talent. - Engage current employees –
An organization’s current employees are vital assets that could make or break a business. Their participation and engagement can be improved through employer branding strategy, which is very crucial to achieve organizational goals and success.
You might also be interested to read: 5 KPIs To Measure Employee Experience Effectively
Employers with the right outreach and connect with all its key stakeholders will have a positive brand value. It will directly translate into enthusiastic employees, increased revenues and financial stability. An organization that is financially stable will be able to retain and hire the best talent from the market and ace the vital component of employer branding in recruitment.
Reference:
- Employer Branding – Sumedha Chatterjee, 09 October 2019
