In a competitive talent market, where despite the challenges presented by the pandemic and the downturn of business operations, the demand for talent still consistently outstrips supply, employer branding is increasingly coming into focus. Where companies already found themselves trying to sell their workplace to candidates much like a consumer brand sells its products, the pandemic has shifted the mindset of many employees and interview candidates to wellbeing. Organisations will have to respond to questions regarding their support to employees in the pandemic, their diversity and inclusion goals, and their flexible working options. Putting out a job description is no longer enough, and employer branding and employee value propositions are becoming competitive tools in the race for talent. But what exactly is employer branding, and how does it contribute to a recruitment strategy? We answer these and more questions for you below:
An employer brand is much more than an explanation of the company’s strategy, markets, and products. It is an expression of an organisations’ corporate culture and its work environment, and the perception of the organisation as a workplace by current and potential employees.
A good consumer brand alone is not enough anymore. Recruiting leaders agree that employer brand has a significant impact on hiring and will continue to be an increasing area of focus. 91% of candidates seek out at least one resource to evaluate an employer’s brand before applying. A strong employer brand can help reduce the cost to hire and time to fill by increasing candidate attraction, engagement, and employee retention. However, an employer brand that needs improvement does the opposite: 55% of job seekers abandon their application processes after reading negative reviews.
Most candidates consider the overall experience that they receive in the interview process as an indicator of how a company values its employees. It is important not to forget that candidates are often our customers too, and the recruitment process is the first opportunity for them to interact with your organisation. According to Glassdoor, 93% of employees and job seekers say it is important to be thoughtful and informed about all aspects of a company, including culture, values, mission, business model, future plans and the pro’s and cons of the workplace, before accepting an offer.
If an employer brand is the perception of what your organisation is like as a workplace, the EVP is the way you make this perception a reality for your employees. An organisation’s employee value proposition (EVP) is the company’s promise to employees about the rewards and benefits they will receive in exchange for their performance. Defining the EVP so that this promise is clearly understood by all is critical to workplace culture, career management and employee retention. Strong EVP’s combine extrinsic motivators such as pay, bonuses and benefits with intrinsic motivators like learning and personal development, work environment and flexibility.
Every organisation is different, which is why we design our employer branding solutions to your specific needs. Overall, essentials for building a high-value employer brand are:
Employer branding initiatives need to be aligned to HR policies, if an employer brand states certain expectations, they must be delivered to prevent disengagement and lack of trust. Other challenges may be that an organisation is not sure yet how to communicate the employer brand, or how to manage the additional workload. Other than that, setting up an EVP or employer branding strategy requires input of employees across departments, geographies, and seniority levels, which can prove to be a challenge.
Our employer branding experts can help you if you are facing challenges with your employer branding strategy, but also if you have yet to get started on your employer branding, or just want to have a further chat to discuss your questions. Contact us for more information.