Branding is crucial to the success of the business. It gives unique features and establishes a differentiated position of the organization in the market that engages the right employees and attracts the right customers.
It’s important to understand that employer branding is the thoughts and feelings of potential applicants about the company. The catch is, of course, it has to be unique and express the mission and the highest priorities of the company, for example, technologies, innovation, social issues, charity, entertainment, etc.
Why is the employer branding important? And is it, really?
Yes, it is vital for many reasons including financial benefits, talented specialists attraction, influence in the market and overall brand awareness. Here are the top four reasons to seriously consider company’s branding strategy implementation:
A good employer brand can reduce your costs
With a well-known reputation as a trustworthy employer companies might cut on recruitment advertising costs. A good employer brand acts as a great advertising tool for itself. It means that if you have a positive reputation, then applicants will always be on the line to become a part of the organization. Job alerts on the website, email notifications — these simple tools can help job seekers be always informed about recruitment periods in the company.
A positive employer brand saves your time
It takes much less time to fill a vacant place if you have a reputation of a respectable and trustworthy employer. Finding the candidates who have the right skills and experience to fill your vacancy can be problematic itself. According to PwC 18th Annual CEO study report, a full 73% of respondents are concerned about the availability of talent — a 10% increase from 2014. However, if candidates don’t know about the company or it’s working process, candidates are likely to be put off working there.
It might be interesting to know that, according to the CareerBuilder Hiring Forecast, after finding a job offer, 64% of candidate said they research a company online, and 37% said they would move on to another job offer if they can’t find information on the organization and its corporate culture.
Potential employees don’t want to work for a company with bad reputations.
In fact, 69% of candidates would not take a job with a business that had a bad reputation, even if they were unemployed, statistics from Glassdoor suggest.
Show the human side of the company
Building an employer branding through social media platforms and career sites can significantly help to put a face on employer brand identity. Like a corporate brand with a unique style that rings true to customers, employer brand should do the same to potential workers.
Global Head of Strategy in Universum, Richard Mosley believes that employer branding has moved on significantly over the last 12 months. This includes: more companies define an employer value proposition, there is a shift in investment to social media marketing, and a far more significant emphasis on employee-generated content, advocacy, and referral than last year.
Today Universum Global, one of the leaders in employer branding, and DHI Group, Inc., a leading online talent acquisition platform for professionals in technology, conducted an annual study about Employer Branding. This comprehensive look at the way HR managers view company’s branding shows that employer brand has changed over the past years. It also reveals that main methods of promotion have shifted to digital channels.
Top 5 Most Popular Channels in 2017:
- Digital Advertising
- Social Networks
- Employee Referral
- Employer/ Career Site
- Professional Networks
Top 5 Least Popular Channels in 2017:
- General Print Advertising
- 3rd Party Recruiters
- Direct Mailings
- Student Publications
According to the annual Employer Branding Now report company’s branding as employer changes from 2016 to 2017. Now it has more substantial reliance on digital channels and social networks. At the same time, traditional media platforms continue to decline. Notably, in 2017 a lot of companies put efforts on visual platforms like Instagram and YouTube.
Results of the study conducted by Deloitte University show the importance of this trend in different countries.
Image source: Deloitte University Press
How to stand out among other companies?
- Show what makes the organization unique. For example, you are the first organization that implemented 3D printers for villa construction, as Winsun did in 2014. Maybe you hold the best corporate events, or you use blockchain technology for international transactions — show what you’ve got and been proud of it.
- Attract recently graduated students. According to the Gen Z Grads Class of 2017 Accenture, 44% of recent grads found it difficult or extremely difficult to find a job. Create mentoring program and raise fresh, talented employees who will work hard to show how grateful they are.
- Follow the major trends. Blockchain buzzes in 2017 almost as much as elections. The majority of people still believe it’s a bubble and others create innovative projects (TechInvest about Blockchain-based system attached to your CV) to implement them in different industries.
To conclude, employer branding is essential for companies, especially, for startups and small businesses because of a harsh competition and the lack of resources. Employer branding isn’t just a buzz phrase, nor it is a passing trend; it’s something that directly affects the success of business recruitment and retention efforts.