Employer Branding- Definition
Employer Branding is defined as the process of managing and influencing one’s reputation as an employer amongst the pool of job seekers, your own employees and the key resources within the organization.
It basically covers everything to position your brand and your organization rightly as an employer of choice.
For example, 2021 has been a great year of resignation, we all are not unknown of the fact the disruption it has caused during the last two years. Do you know the cost of hiring is the highest cost an employer bears during the employee lifecycle?
If you see this as one of the constant issues to address in your organization, then you need to put in some serious thoughts to re-evaluate your brand.
Why Employer Branding?
Every organization has a reputation of its own. Whether you are about products or services a prospective employee wants to know everything about you. Leadership, team members, stakeholders, company history is what many employees go back and check before they even have made up their minds to apply to your organization.
An organization’s reputation goes much beyond that. You may never know and you may be inspiring millions of young job seekers, they might associate with you emotionally, instinctively and intellectually. This reputation is known as your brand value. Your brand value is powerful, puzzling at times and collective.
2022 is the year of Employer Branding! This is the year of seriously increasing competitive job market and amidst everything that is slowly moving to virtual is the new real setup, it is very important to establish your brand in the right direction. Employee attrition is not just the biggest challenge, employee retention is equally important. Therefore, an inward as well as outward focus, is equally important.
As an organization you need the right kind of talent sticking around for a longer period of time, so you are able to groom your next generation. The best way to find and make them stay is by creating the right impressions, the answer is simple, Employer Branding!
In the next section of this blog, we will be discussing the benefits of employer branding.
Top 4 Benefits
Here are the top 4 benefits of employer branding:
1. Attracting the Best Talent Pool
It’s the age of digital and when a job seeker decides to find the right kind of a job, it is most likely that he/she is typing out, “best companies to work in 2022”, or “best companies hiring”. It states the obvious, people want to work with an organization with a good reputation, greater culture, inclusivity and diversity.
According to research by LinkedIn companies can attract 41% of full-time employees in the US without actually giving them a pay rise with positive employer branding. These organizations not only hired the top talents but were also able to retain them.
2. Decreased Cost for Hiring
With positive branding it is most likely you will be attracting the best of the lot, which is great news! With the inflow of the right candidates and a solid pipeline, it is the best news for your hiring managers. The most important part of the entire recruitment process is the pipeline of candidates, the right ones.
With the correct branding exercises, you will experience an influx of qualified and job-ready candidates. Half your battles are won here, you already have a pool to choose who fit the bill.
Companies with great reputations also are known to have an excellent organizational culture. And when you have a great culture, your employees refer their friends and family with utmost confidence and so the recruitment process is smooth. Employee referral programs have the highest ROI.
According to studies by CareerBuilder, candidates referred by your current employees are 55% faster than those sourced through various job search platforms and sites.
3. Customer Credibility
Better the talent in your organization, better will be the customer experience. When your top talent is working on projects, desired results will be achieved and this is directly proportional to customer satisfaction. A happy client is a returning client, they will always come back with more and better opportunities and this does increase the morale overall.
According to a study, 80% of customers buy from organizations that they trust and are recommended by their friends and family. Building your organizations’ credibility with your client and customers heavily depends on your employees.
4. Increased Employee Morale
According to a report by Glassdoor the top 10 organizations to be employed with, in 2022, all ten of them have one thing in common, the way employees were treated. The research that was conducted was based on five parameters- culture, career opportunities, compensation, management and work-life balance.
According to the studies, employees felt it was important to work in an organization that has a good culture and treated its employees like humans and not machines. All other attributes came post that. Therefore, building a strong culture through strong employer branding is the need of the hour.
Conclusion
If you are willing to go that extra mile and put your organization on the world map, attract the top talent and build your brand please write to us at connect@kernculture.com
