The 5 key benefits of employer branding
In order to stand out in the market, it is important to always be innovative, high quality, and different from others. This requires professional, hard-working, capable employees, in other words, the best talents.
But today, it is not easy to find, attract and retain such employees. To achieve that, it is important to have a strong employer brand. Creating, developing, and maintaining your company’s brand as an employer is a process called employer branding.
It will boost your employer’s reputation, so you will be able to retain your current employees and attract a new workforce. It’s essential to understand the importance of employer branding.
So, here are the key benefits:
Reduce the amount of time and money per hire
- It is important to keep in mind that 75% of job seekers consider an employer’s brand before even applying for a job (LinkedIn). It is already commonplace for candidates to research as much as possible about your company and your employer brand.
- The career site and social networks are great channels for conveying to them the work culture and atmosphere you nurture in your company. As a result, you can have 50% more qualified candidates (LinkedIn).
- Likewise, research shows that companies with a strong employer brand have a 50% cost-per-hire reduction (LinkedIn). When you have a reputation as a great employer, you don’t have to invest money in advertisements and campaigns to raise awareness of the employer brand and attract a new workforce.
Attract Talents & Increase employee retention
People want to work in a company that cares about its personnel and has a good reputation. Show that you are such a company, or more precisely, be such a company! Your current employees are your most effective brand advocates.
Include them in the building of your employer branding. Their testimonies will lend authenticity and honesty to your brand. Encourage them to share their experiences, accomplishments, and activities on social media.
In this approach, you will attract talents who share your values, care about the same things you do, and like the atmosphere in your firm.
LinkedIn research shows that companies that possess the majority (3 out of 5) of the characteristics associated with a strong employer brand may recruit 41% of full-time employees without any salary rise.
And these are the characteristics:
– job stability,
– greater professional growth opportunities,
– the possibility to work on a better team, an organization that shares your beliefs, and an organization that is positively recognized by current or former workers.
Meanwhile, if you are wondering what are the best indicators of a strong employer brand — one of them is certainly the retention rate.
The goal is that your company becomes a place where talented people not only want to come work but also want to remain.
And they will remain if they are satisfied with the workplace conditions you provide, if they are appreciated, and if they have the opportunity to develop in a pleasant and inspiring work environment.
It is difficult to recruit great workers, therefore, it is essential to value and retains the ones you have.
Investing in employer branding can minimize employee turnover by 28% (Office Vibe).
Enhances employee morale
Empowering your employees to develop and advance their careers, offering them a fair salary, and providing them with the perks they need, as well as supporting them in their tasks, will result in highly motivated employees.
They will work more effectively and productively.
A satisfied employee will speak to others about his employment and his company.
It is important to emphasize that employee referrals are one of the best sources of qualified applicants, but merely 49% of workers would suggest their company to a friend (Glassdoor). By treating them well, you will boost employee morale.
Improve the company’s reliability with customers
Although the employer brand and the company brand are very different terms, it is difficult to separate them because they actually affect each other.
If you have a strong employer brand, your employees will have a better opinion of you as an employer, and you will also improve your public image.
If you have a great team of people who do their job well, your customers will be satisfied with your service or product. And happy customers always come back!
According to the poll, 82 % of customers will support and purchase a product from a company they trust and that conforms to core values such as — “fair treatment of all employees and ethical and sustainable business practices” (Zeno).
In comparison, 75% of customers said that when they disagree with the actions or deeds of some brand, they react by no longer buying their products or services. They switch to competition and persuade others to stop supporting that brand and buying their products (Zeno).
Distinguish you from the competition
Investing in employer branding will empower you to stand out from the competition. Find out what are your strengths and weaknesses. Maintain your strengths, and try to correct the shortcomings and turn them into virtues.
Talk to your employees and find out what attracted them to you and not to the competition. Involve them in the development of employer branding. They know best what it is like to work in your company, give them confidence. Let them be your strongest influencers in attracting potential candidates.
Read about how to enroll your employees in creating your EVP in our blog Everything you need to know about Employee Value Proposition.
Don’t be afraid to use all the tools you can, be innovative! Use social networks, as well as your website, to share content in a variety of forms, including images and videos.
Make a culture video that shows your workplace’s vibe, and include your personnel to gain authenticity. Show what makes you special and why it’s a pleasure to work for you.
As you can see from all of the above, investing in employer branding is quite beneficial since you will achieve success not only through the field of employment but also in the rest of your business, such as production, sales, etc.
Employer branding is not an easy process and requires time and effort, but the results are always excellent and long-lasting. Take care of your employees, involve them in the process, and the results will come.
Now is the time to get started, be unique, and be ahead of the competition!
Hopefully, this information has shown you the importance and value of employer branding. If you want to learn more or need help with the process and development of a quality employer branding strategy, feel free to contact us!