In recent years, the number of companies that have implemented specific branding strategies aimed at attracting human talent has grown.
For years they have used this approach in order to appeal to their consumers so why not do the same to attract and retain talent and reduce hiring costs?
Employer branding
Employer branding is the name given to highlighting the attractiveness of your work space to future potential employees. It has become a fundamental tool in attracting and ultimately retaining your employees.
If employer branding is done well it improves your level of competitiveness and actually can result in long term cost savings if the retention rate is improved.
Companies with positive employer brands generally receive up to twice as many applications which bearing in mind the cost per hire is something that will pay off in the long run.
According to the 2020 study Outlook: The Future of Employer Branding of Universum, 62% of companies consider Employer Branding as a business priority, this is a positive sign of the developments the market has made in this area.
Choosing not to invest in your employer brand can be costly. This cost implication can be seen on direct things such as recruiting costs-per-employee, your HR budget, and overall bottom line.
One poll from CR Magazine and Cielo Talent showed that almost 50% of workers said they wouldn’t work for a company with a bad reputation, even with a big increase in compensation.
This all adds up: With a negative, or non-existent employer brand, organizations are likely spending 10% more per employee hired. That means working much harder for longer just to get quality employees through the door.
But… What is the employer branding process?
Step 1. Get familiar with your company
When you’re able to define your company’s unique attributes, it’s easier to hone an employer value proposition. Get to know your organization’s core business, vision, mission, values, and culture. Understand what your company objectives are, and what sort of talent is needed to accomplish those objectives.
Learn more about our training in Business Administration: MBA.
Step 2. Do an audit of your employer Brand
Conduct research both internally and externally with applicant surveys, internet and social media searches, and/or firms that conduct reputation monitoring. See what’s working at your company so you can keep doing it, and what areas need improvement
Step 3. Define an employer value proposition
Now comes the part when you can make your corporate messaging sing. Draft an employer value proposition that clearly communicates the values of your corporate brand.
Step 4: Use recruitment marketing
When designing an EVP or other employer brand messaging, consider enlisting the talents of the creative wordsmiths in your own marketing or communications department.
Step 5. Build engagement among current employees
To help you become a trusted employer, look no further than your own workforce. For finding out what it’s like to work for your company, employees are 3x more likely to be trusted by leads than your CEO.
Your employees also shape your company’s culture, live your values, achieve your objectives, and manifest your company’s mission.
- Show off your employees (by having them show off themselves). Did you know that one in four candidates view other employee profiles immediately after finding out about a job opportunity?
Encourage your workers to update their online profiles so they’re current, professional, and attention-worthy.
- Offer skills training and advancement opportunities. Nothing saves recruiting costs more than promoting from within, so give your workers opportunities for personal growth and professional development.
Step 6. Write snazzy job descriptions
Job posts are often the first contact candidates have with your company, so they’re a perfect way to promote your employer brand.
If you are trying to stand out amongst your competitors instead of writing the bland option such as “must demonstrate excellent communication skills” why not try adding some life into the description “Are you the type of person who prefers to pick up the phone straight away rather than wait for an email.
The idea of ‘a cold call’ doesn’t make you want to run from away. Then be sure to optimize your search engine results based on the words and phrases your ideal candidate are searching for.
Following this process will allow you to differentiate your organization based on the perception of added value for employees.
We recommend our Human Capital Masters so that you can emphasize the best practices in human capital management and the technical skills required for the strategic management of human talent.
