In today’s workplaces, it takes more than a “competitive salary” to attract top talent. When searching for a new position, candidates take into account a range of factors, including the reputation of a company and what it’s really like to work there.
To attract and retain skilled employees, businesses must consider their employer branding. But what exactly is employer branding? And what’s the link with talent acquisition?
What is employer branding?
Essentially, your employer brand is how your company is viewed by potential candidates, and how appealing your company is to work for.
Employer branding, therefore, is the name for the process of creating your employer brand. It’s also known as recruitment marketing, as traditional marketing strategies are often used to cultivate the impression of being a great place to work, in order to attract top talent.
It’s important to note the difference between corporate branding and employer branding. The former focuses on the products or services a company brings to a market and the value it brings to consumers. The latter focuses on the value the business has as an employer, in terms of job opportunities, company culture and the workplace environment.
Benefits of making employer branding part of your talent acquisition process
In today’s competitive job market, companies that succeed in cultivating a strong employer brand will undoubtedly have more success in recruiting skilled workers. This is especially true in the age of the Internet when it’s easy for disgruntled former team members to share their gripes on social media or on sites like GlassDoor and disparage a former workplace.
If you need an example of how powerful the right kind of employer branding can be, just consider Google. Even if you aren’t a techie person, you’ve probably heard about its incredible offices where employees (known as Googlers) are offered free lunches, on-site gyms, spa treatments and even free haircuts. The search engine has successfully created an employer brand that has top talent clamouring for every vacancy. Not just because of the company itself, but because of its fun, campus like work environment.
Crafting a strong employer brand doesn’t happen overnight but, if you invest the time and resource, it can deliver a multitude of benefits:
- Increasing number of applications from skilled workers: Given that many jobseekers are unlikely to apply for a company with a negative reputation, a strong employer brand puts you in pole position for the most talented candidates. This is a clear competitive advantage, especially in industries where skilled workers are in short supply.
- Retain talented employees: Employees who enjoy their company’s culture and benefits are more likely to stay in their role and feel happy and satisfied about their place of work. This also means they’re more likely to perform at their optimum level, helping to contribute to business growth.
Happy employees are also powerful brand ambassadors, which means they’re naturally inclined to advocate working for your company, as well as recommend your products or services to others.
- Reduce recruitment costs: Businesses with weak employer brands have to spend more money on advertising job posts and more intensive recruitment drives, which comes with a higher price tag. Furthermore, they often have to offer higher salaries to compensate for their poor reputation.
- Stand out from competitors: When searching for talented individuals, companies need to stand out from their competitors. Research by LinkedIn has confirmed that a company’s employer brand impacts job consideration more than overall brand.
