To combat the talent shortage, businesses must build a stronger employer brand. . In this eBook, we explore how businesses can achieve this.
While many businesses will continue to throw money at the problem, the smartest will instead focus on building an employer brand that will make talent want to work for them. 86% of HR professionals say recruitment is becoming more like marketing, and those that embrace this will reap spectacular rewards.
96% of companies believe their employer brand has a direct impact on their bottom line – yet just 44% actually monitor that impact.
What is an employer brand?
An employer brand describes a business’s reputation as an employer and their employee value offer. This includes everything from employee benefits and salaries to career development opportunities, social media presence and employer reviews on websites like Glassdoor.
Why is Employee Branding So Important?
The current talent shortage demonstrates perfectly why employer brand matters: with a surplus of openings, companies are not actively competing with each other to attract the best workers.
60% of recruiters believe culture fit is of the highest importance when making a decision whether to hire or not, and experts estimate that a negative reputation costs companies at least 10% more per hire. This is confirmed in the research: when making a decision on where to apply for a job, 84% of job seekers say the reputation of a company as an employer is important.
The reality is today’s workforce simply isn’t willing to work for an employer that doesn’t care about them or share their values.
With a strong employer brand, candidates enter the company excited, motivated and actively hoping to enjoy their work. This kind of positive start is invaluable; it contributes to overall engagement, retention and profitability to an extent that is difficult to quantify but undeniable.
The ROI of Employer Branding
A strong employer brand has been shown to produce:
- 28 % reduction in the organization’s turnover.
- 50% cost-per-hire reduction
- 50% more qualified applicants
- 1-2x faster time-to-hire
What makes a great employer brand?
Salesforce is currently ranked the best place to work in the UK, and their approach to employer branding is highly instructive.
While the business itself is hugely successful, it is not necessarily the most traditionally glamorous. Instead, the brand has focused on empowering its employees and creating an environment where talented people can thrive.
The company offers its staff ample opportunities to engage in continuous learning, as well as the flexibility to try out different roles within the company. This demonstrates that they are on the same team as their employees, and signals to prospective candidates that they will be genuinely nurtured and invested in.
Other strong factors include the company’s emphasis on philanthropy, giving employees the opportunities to take time out for charitable endeavours; its emphasis on work-life balance and employee mental health; and its embrace of flexibility and enabling workers to fit work around their life rather than vice-versa.
- Great employer brands appeal to their ideal employees
- Great employer brands are built on employee experience
- Great employer brands are differentiated
- Great employer brands need to be amplified
Five Key Ways to Build Your Employer Brand
Download the eBook in full to explore the 5 steps.