The Importance of Employer Branding in Attracting Top Talent
Your employer brand is essential in today’s cutthroat employment market for luring the ideal candidates to your business. 84% of job searchers feel the reputation of a firm as an employer is crucial when choosing where to apply for a job. The most prosperous businesses have mastered the art of effectively integrating people management and attracting top talent with employer branding.
You may wonder why this is relevant. Employer branding eventually aids in luring top talent by giving applicants a close-up view of what your business is all about. Candidates may “self-assess” their fit with your organisation thanks to a strong employer brand, which can eventually boost employee retention and engagement rates.
Nowadays, job searchers are shopping for a job; they are making a purchase. Particularly for job candidates with crucial skills, the market is candidate-focused. Businesses must demonstrate to both active and passive applicants why they should want to work for their company and why it is a fantastic place to be, thus, attracting top talent with employer branding of their company.
What does “employer brand” mean?
An employer brand, which is basically what the company presents as its identity to both potential and current workers, is a crucial component of the employee value proposition (EVP). Employer brand is also what staff members say about their experiences working for your company, which is just as significant, if not more so.
A strong employer brand conveys that the business is a terrific place to work and an excellent employer. What precisely is an employee value proposition, you inquire? EVP is a package of benefits that you, as an employer, give to your staff and utilise as a recruiting tool for prospective personnel. Your EVP can assist you in engaging and keeping staff in addition to attracting top talent with employer branding.
Why is employer branding crucial for attracting top talent?
A few decades ago, it was completely acceptable for one employee to work for the same company while celebrating their 25th and 60th birthdays. Employee turnover has decreased significantly over the past several years, nevertheless, as a result of job boards and other places offering current information on work possibilities throughout the world.
Consider the numerous advantages of attracting top talent with employer branding to fully grasp how branding is vital not just for your bottom line but also for the long-term viability of your organisation:
It draws the most talented individuals
Even if they were already jobless, a staggering 69% of job searchers believe they would decline a job offer from a company with a bad reputation. This means that, given an option between two organisations, job prospects are likely to choose the one with a stronger market perception and reputation — in other words, the company with a stronger employee brand.
In the extremely competitive employment market, attracting top talent with employer branding might be an edge and hard-to-get, in-demand talent and encourages employee retention in the long term.
Employer branding enhances your online reputation
The last thing you want as an employer is for rumours to circulate about employee dissatisfaction and overall unhappiness at your business. The main goal of a corporation isn’t necessarily to produce a fantastic product that provides value. It is essential to invest in and put a priority on the human resources that guarantee that not only are your products and offers up to par but that you are also consistently innovating and providing fresh value that surpasses your consumers’ expectations.
Your brand could become unique as a result of this. The benefits of a good reputation are evident in the social media age, where organisations that put workers’ welfare first receive quick praise, while brands that are found to be lacking in opportunities for growth and development, care and respect for employees, or those with subpar working conditions or unethical practises receiving viral callouts.
Increases employee referrals
Although a worker might not recall the precise terms of their employment letter, they will recall how simple it was to talk to a superior about a bothersome situation at work. They will always appreciate how simple it is to take a day off for mental health reasons and how paid time off is a common practice in the workplace.
Most significantly, former and present employees will make sure to express their satisfaction with your company to potential new hires and anybody else who would listen. Employee recommendations are a reliable gauge of how well your company is performing in terms of employee relations and employer branding, thus, attracting top talent with employer branding.
Reduce spending on hiring and retaining employees
A poor reputation may cost you a lot, including lost sales and opportunities for growth. Perhaps most importantly, having a reputation as a business that doesn’t put employee wellbeing first can literally cost your firm a lot of money. When you eliminate employee pleasure from your business identity, it initially keeps great talent away from your company.
This, therefore, affects how much cash will be needed to recruit high-performing employees for your business. It’s rumoured that every new recruit requires a 10% premium from firms with bad branding. When recruitment expenses, testing fees, fees charged by external agencies, and other expenses are taken into account, this might translate to an average of $5000 spent on each employee.
With a high reputation, there are much fewer hassles and expenditures. When top applicants are certain that they will be treated properly and respected, they will immediately compete for positions in a company and thus enabling a company to attract top talent with employer branding.
Suggestions for enhancing employer branding
Use present staff members
Prospective candidates can read testimonials provided by existing workers to gain first-hand knowledge of worker expectations. These endorsements could be shown on the business website’s careers page.
Employees may be urged to promote work activities and social outings on their individual social media pages. This enhances the genuineness of how employees view the workplace culture and may inspire a favourable perspective in visitors.
Be more thoughtful when writing job descriptions
Job descriptions are a good method to differentiate your company early on from competitors because they are one of the first points of contact throughout the hiring process. Job descriptions should be created by your human resources staff with the values and culture of the company in mind.
To communicate to a prospect what could be required of the position, it can be necessary to use humorous or relevant language.
Use social media-friendly techniques
Social media and other forms of alternative communication are quick ways to influence how the job market sees your company when trying to develop a strong employer brand. Having interactive sites on Facebook, Twitter, and even TikTok may do this.
These pages ought to feature noteworthy workplace advancements as well as regular occurrences. You may use a corporate blog, newsletter, and other tools to promote the business as part of your employer branding plan.
The bottom line
Employer branding is a certain strategy to put your business on the map in the eyes of employees. Your company will develop a reputation as a friendly employer if you appreciate the applicant experience, the onboarding procedures, and the best employee experience at work.
Building an employer brand requires caution, even if it has several financial and human benefits. The intent is essential, but so are execution and consistency. This needs to be accomplished with the help of HR specialists and the finest recruiting marketing teams, and it should demonstrate a desire to encourage employee happiness and work satisfaction.
Creating a positive employee experience is where a strong employer brand starts attracting top talent with employer branding.
Author’s Bio:
Ayush Raj is a content writer and finance enthusiast. He creates content in Finance, Cryptocurrency and Business related domains and has good knowledge of entrepreneurship, consulting, digital marketing and economics. He has written for Human Resource India – Best Placement Agency.
