What is employer branding?🧐
An employer brand is something often overlooked, when really, it should be much higher on the priority list. So, what is it? Simply put, it’s how your company is viewed as an employer. It’s what comes to mind when individuals, specifically job seekers and current employees, hear your company name. Are you walking the walk or just talking the talk?
For example, when a job seeker is looking for their next opportunity, do you think they’ll be more attracted to a company that’s been awarded “Top Place to Work in 2022” or a company who has a 1-star review on Glassdoor with reviews complaining about their lack of employee perks and benefits? It’s obvious right? That’s what an employer brand is. Shaping your company’s narrative and identity to promote a positive reputation amongst individuals like job seekers and current employees. As a startup just entering the candidate driven market, creating an employer brand for yourself should be high up on your to-do list because you need to position your company for the ideal candidate and show why you’re a great place to work.
Having a good employer brand has a domino effect in a way that not only helps attract talent that’s the best of the best, but it’ll also help cut down hiring costs, retain talent and drive business success.
Here’s why your startup should care about employer branding💡
If you’re not sold yet, there’s nothing more telling than real world stats to further convince you why your startup should care about employer branding. Take a look at the following:
75% of active job seekers are likely to apply to a job if the employer actively manages its employer brand. What this means is that potential candidates LOVE to see a company that tells a compelling story, and actually walks the walk. By marketing your company, you’re convincing job seekers to choose you, sharing what it’s like to work there, and significantly increasing the size of your talent pool.
Companies actively investing in employer brand can reduce turnover by as much as 28%. Your employer branding will likely emphasize your company values and spark a reminder to current employees why they joined in the first place, hence the reduced turnover. Employer branding is an investment, and with every investment you want good returns. That being said, this is proof that if you invest time and work into your employer brand, turnover will be much lower, you’ll reduce hiring costs, and your bottom line will be directly impacted. Investing in your employer brand may not mean starting from point A, it may just mean revitalizing your current brand. Here’s how to know if it’s time to revamp yours.
86% of employees and job seekers research company reviews and ratings to decide on where to apply for a job. It goes to show that employer branding comes into play from the very beginning. Everything from reviews and ratings to a social presence will help your company build its identity, attract, retain and drive growth. And remember, happy employees are one of your strongest ambassadors when it comes to reviews online.
92% of people would consider changing jobs if offered a role with a company with an excellent corporate reputation. It’s that simple – your company’s reputation is everything. So much so that the reputation you build (either positive or negative) can either attract or deter talent. Being the company with an excellent reputation that top talent flocks towards should be your ultimate goal.
All in all, employer branding is CRUCIAL for your company’s recruiting, hiring and retention, and it all flows back into that bottom-line. As a modern company, if you aren’t investing in an employer brand, ✨this is your sign✨. Start now. Not sure where to start? Reach out!
Have an employer brand already but need some more tips?
If you’re already on track with creating your employer brand, but just need some more help to push you in the right direction, you’ve come to the right place. Check out our blog on 4 Ways to Humanize Your Employer Brand for tips on how to sell yourself to potential candidates by being relatable, reachable and believable.