You know your primary brand; your story, your image, personality, culture – all the emotional, intellectual or distinctive markers that are left on your target audience. All these factors make up your reputation.
However, what you may be unaware of is your secondary brand and how you’re viewed as an employer. Your employer brand is embedded in your past, current and future employees. An employer brand is the market’s perception of your business, but also the exchange you promise to make to employees in return for their skills, knowledge, and experience.
In order to remain competitive in today’s ever-growing marketplace, a negative employer brand can sabotage your hiring efforts and make it all the more difficult for you to hire talented candidates. 55% of job seekers abandon applications after reading negative reviews online, whilst 84% of job seekers say the reputation of a company as an employer is important.
What employees are telling their families, friends, acquaintances and strangers about your business and working there, the benefits they receive, and the level of contentment they experience can alter the company’s reputation. You need to build your dream team in order to attract the right clients and customers. Businesses that support and empower their employee’s growth and go beyond the basic employee benefits, builds an aura of community, which entices potential candidates to apply. Today employees spend more than ever in their workplaces, and they long to be a part of a thriving and happy workplace with a stable future.
As with all branding, crafting a strong employer brand is all about good storytelling. What is the impression you’re casting to potential employers? What are the benefits of your organisation? What are the salary packages, advancement opportunities or the culture?
An example of storytelling value adds that can be considered include:
Sportsbet is an example of a business that has done this well. They have built an army of happy employees who spread the buzz about their company’s culture and positive experiences that attract talent, clients, customers, and stakeholders – further broadening the scope of their employer brand.
Financially, employer branding is an investment not worth disregarding and should be considered a leading priority in your strategic planning. The cost of recruitment, HR budget, and overall bottom line can be drastically improved. The number of candidate applications increases as your company is viewed as favourable in the marketplace, which exposes you to a broader range of skill sets and experience. Less time is also spent on the HR manager in recruitment that can be best spent on improving existing employees. The lack of available talent brought on by a bad employer reputation can also lend itself to poor quality recruitment or higher turnover. The ramifications therefore include new recruitment costs and time wasted to complete the process again. Regardless of internal HR, is your employer brand is strong, your recruiters experience less friction introducing your organisation to higher-quality candidates to get them to the offer stage.
If you don’t have a solid employer brand, even small tweaks to your organisation can improve your employer branding strategy in order to attract, recruit, and retain the best employees. However it is not enough to talk about your employer brand, you need to live it.