“I wonder what it’s really like to work there?” It’s the question on the minds of every job seeker. Maybe you’ve even had the same thought yourself. Most have. Energage research suggests more than half – nearly 55 percent – of employees admit to looking for better career opportunities.
It’s easier than ever for job seekers to take a peek at your organization before they ever interact with you. People want to work for organizations that align with their values. Candidates want to know if and how companies care for their employees. And with many companies offering remote working opportunities, there’s a wider pool of employers for candidates to consider.
In other words, the game of scouting for talent has changed. Completely.
Employer branding – what it is and why you should care
Simply put, employer branding is how you market your organization to attract new talent. It’s also a direct reflection of your culture and an expression of company values. The stronger your employer brand, the more effective you’ll be at filling the funnel with the right candidates, accelerating your hire rate, and reducing recruitment costs.
Job candidates are doing their homework.
More than 75 percent of job seekers consider an employer’s brand before they submit a resume. So it makes sense that one of the greatest frustrations among job seekers is not knowing what to expect as an employee. Your employer brand gives job candidates that all-important glimpse into your company culture.
Employer branding benefits your organization too.
A strong employer brand will help you to attract more qualified candidates, increase your hire rate, and improve retention. Done right, it can also cut your recruiting costs significantly. Some report as much as 50 percent.
Five best practice of employer branding
1. Know where your culture stands.
Start by measuring your culture with a trusted, third-party employee engagement survey. This will help identify what’s really happening within your culture, increase your brand awareness, and uncover your hiring differentiators.
Candidates are 3x more likely to trust company employees to provide credible information about what it’s like to work for an organization. Source: LinkedIn
2. Recruit from a position of strength.
The key here is authenticity. Don’t spend time crafting a story about what makes your organization so great. Do something better – utilize employee engagement survey data to discover your culture strengths and then leverage those to give candidates a behind-the-scenes look at what matters most to your organization.
3. Know your threats, too.
More than a third (38 percent) of workers will leave a job because of a toxic work culture. And the Harvard Business Review reports a bad reputation costs a company at least 10 percent more per hire. That’s why it’s equally important to know what’s hurting your culture so you can focus your efforts to eliminate potential trouble areas.
“Companies with a poor employer brand spend 10 percent more on salaries just to acquire the same talent.” Source: Harvard Business Review
4. Earn credible employer recognition as an organization of choice.
Nowadays, job seekers have easy access to information about your organization – sites that often paint a picture of your workplace based on anonymous, unverified data. Share an accurate and authentic culture story based on employee feedback that’s verified by a credible third party.
5. Perform wellness checks on your culture and employer brand.
Creating a strong employer brand requires a year-round commitment to culture and engagement. Interim pulse surveys enable you to check in with employees to capture real-time insights, monitor progress on key initiatives, and ensure culture remains your competitive advantage.
“With growing consumer interest in company transparency and the treatment of workers, executives should have a finger on the pulse of how they are being perceived by the public.” Source: Forbes
Win the recruiting and retention game with an authentic employer brand
A strong employer brand will give you an edge on the competition. That’s why it’s time to invest in telling your culture story – the right way.