Employer branding is quickly becoming the most effective strategy to attract top talent and recruit the right candidates. Identifying methods and strategies to develop it can be extremely beneficial to organisations as it not only allows hiring managers to attract quality candidates, but it also helps speed up the process and reduces costs.
What Is Employer Branding?
Employer branding is a company’s reputation in the labour market, and how employees and candidates respond to it. A strong brand usually fosters growth and attracts talent, whereas a weak brand goes hand in hand with high turnover rates and lengthy recruitment periods.
What many companies fail to understand is that employer branding is present whether they are aware of it or not. Organisations that take little interest in their employees and do not make an effort to create a positive recruitment experience for all candidates are usually unaware of their brand and the impact it can have on their reputation.
On the other hand, businesses that are interested in retaining their employees and creating candidate pipelines are usually very aware of their brand and try to enhance it with every opportunity.
Employee Value Proposition
This basically refers to the actionable section of EB. So whereas employer brand is more concerned with how a company presents itself in the labour market, the EVP is the set of actions a company needs to take to ensure a positive response to its presence. As such, the employee value proposition addresses rewards, compensations, benefits and communication channels, all of which are responsible for how a worker experiences the workplace.
It’s obvious then that without an impactful EVP, a company cannot achieve much. Therefore, the first step that needs to be taken to generate an employer branding strategy is to identify ways to develop EVP. Ensuring salaries are up to par with industry standards, and that the right incentives are present, are always great places to start.
Creating an Effective Employer Brand
Investing in EB helps you achieve many HR goals which is why an increasing number of organisations are becoming aware of it and are identifying ways to increase its impact.
Putting together an interdisciplinary team (HR, talent acquisition, marketing and branding specialists) can help maximise your company’s potential as EB is not strictly an HR function, but rather, it touches upon various disciplines.
Moreover, as EB incorporates every aspect of the employment experience, it’s important to involve everyone in the decision-making process. Talking with management is essential as business goals need to be taken into account while increasing compensation budgets can also be a great first step in building a successful strategy.
Talking to current employees is also important because their feedback will help shape a brand that fits employee expectations, while allowing candidates to have a voice by asking for feedback can also be vital. Bear in mind that candidate experience is a huge aspect of branding and as such you need to foster a process that allows candidates to speak their mind, offer opinions and give feedback.
Benefits of Employer Branding
- Creates a Successful Talent Pipeline: Successful talent acquisition strategies take talent pipeline formations very seriously because they help reduce recruitment costs and time. With a strong brand, the organisation will not only be able to attract candidates, but it will also be able to keep them even when there are no immediate needs.
- Builds a Positive Corporate Culture: It’s vital to keep current employees happy not only to avoid turnover but also because word of mouth remains an extremely effective marketing method and if you want to attract talented candidates you need to be able to rely on their recommendations. Investing in branding strategies means offering better salaries, introducing new perks and making the workplace an attraction.
- Attracts Quality Candidates: Talented people can help organisations meet their goals. They also help bring in innovative and creative ideas which can revolutionise the way a company does business and help it become a player in its industry. Keep in mind that great EB is not just about bringing in people, it’s also to do with bringing in new ideas.
- Helps With Company Goals: Employer branding is not only beneficial to businesses because it motivates employees, but it’s also useful because it helps with business goals. The stronger a company’s brand is the more credible and trustworthy the company also appears to be to its customers. People are more willing to give their money to companies who value their employees and are more ready to choose you over your competitor if they’ve heard positive things about your employee value proposition.
Developing a Strategy
Relying on per vacancy recruitment strategies is ineffective. Not only do traditional strategies take longer and cost more, but they cannot deliver results, especially when recruiting for a specialised position. Job boards, for example, may be useful when recruiting for entry-level positions, but when utilised for managerial positions they cannot ensure quality candidates, in spite of the overwhelming number of people who will apply.
Investing in an effective employer branding strategy can help reduce costs, make the process less time-consuming and attract better quality candidates. Bear in mind that an employer branding strategy is no different to other business strategies and as such, needs to be well-planned and structured. KPIs and metrics will play a significant role in measuring progress, while it’s also important to set clear goals.
Employer branding is more than just another recruitment strategy. It’s a uniquely positive way for people to experience the workplace and it helps create teams that are loyal and committed. As such, it has a purpose in all HR departments.
What does your employer brand say about your organisation? Let us know in the comment section below.
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Orginally published at career addict