But what’s the difference between the organisations that need to convince brilliant candidates to work with them, versus those who simply attract them? Sometimes salary. Sometimes benefits. Though more often than not, successful companies have built a world-class brand that firmly cements them as an employer of choice.
So, if you’re looking to score the crème de la crème from the talent pool, we outline some simple steps and considerations to help you give existing destination employers a run for their money.
Defining employer branding
Let’s rewind for just a moment to look at the concept of employer branding.
Over time, your organisation has worked tirelessly to create a strong brand around its products and services, which tells a compelling story of their uniqueness and game-changing benefits. Whilst this is great for attracting customers, what about employees?
With employer branding, you’re essentially taking this same branding strategy and applying it to your organisation’s leadership, values and workplace culture to improve both your reputation and your employees’ perception of you as an employer. This then also puts you in a prime position to market your organisation to job seekers.
The importance of employer branding in recruitment
If you’re wondering if this truly matters to your organisation, then the answer is a resounding yes. A recent LinkedIn report uncovered that a good employer brand can reduce turnover rates by 28%, as well as cutting your costs-per-hire by half. Also, over 75% of job seekers are likely to apply for a vacancy if the organisation actively manages its employer brand.
To have a truly extraordinary brand that is successful at talent acquisition, spending time and money is inevitable. Yet being an employer of choice saves money and creates value in two key ways:
1. Hard costs
Outreach can be expensive: creating adverts, boosting content, renting booths at recruitment fairs and so on. However, when you’re a top employer, there’s no shortage of candidates – they come to you. Though it takes some effort upfront, this strategy can save your company thousands in HR and marketing spend every year.
2. Soft costs
Anyone in the industry knows the immense cost in recruiting, interviewing, employee onboarding and staff training and development – only to have them move on a year later. Attracting talented employees will not only add immense value to your team, but it will also prevent the multitude of costs that come with replacing someone.
How to invest in your image
First impressions are important, for both people and organisations. Before a candidate even reaches your interview or becomes a new hire, they have to find your brand and like what they see. Here are three tips to make sure you’re maximising the time spent on your brand to become a destination for great talent:
1. Dedicate time and resources to boost your web presence
Your website, social media channels and content are all worth the same amount as any other marketing resources. Some organisations seem willing to dedicate the utmost attention to a product, but not the things that go into promoting it. Don’t let recruiting fall into the same fate; spend the extra time and attention so that anyone who interacts with your brand has an extraordinary, top-notch experience.
2. Monitor what people are saying - good and bad
You can go above and beyond to create an exciting online presence – but a couple of bad reviews will make it seem inauthentic at best and downright deceitful at the worst. Glassdoor is a great resource to see what your employees are saying about your company and will help to ensure you’re fostering the right environment to attract new talent.
3. Always be innovating
Over half of millennials say they’re willing to work somewhere for less money if the culture is right and the job is satisfying. Be purposeful in creating a dynamic and collaborative environment for all your employees. This includes part-timers, freelancers and contractors, and especially the many thousands of staff now working remotely – anyone your company interacts with is a potential advocate and plays an important role in your brand.
The t-shirt test
Google is known for being a top-tier company. They get the best applicants and only hire the top 1% out of that. Everyone there is smart, innovative and a great collaborator, and most of all, they’re proud to work there.
One quick check of an organisation’s brand status is the t-shirt test – are your employees willing to wear your company name? Even if you don’t actually print out clothing for your employees, are they proud to tell others where they work? Do they see themselves as being elite, and surrounded by the best of the best? If so, congratulations – potential candidates likely see the same thing.
Though if your employer brand could do with some fine-tuning to attract those star candidates, we hope you’ve found our top tips useful.
Does your brand have what it takes to make you an employer of choice? Discover how to take it to the next level by improving the employee experience. Download our guide today.