Brand communications are not just reserved for the marketing and public relations teams. In today’s competitive job market where companies are targeting the same talent pools, a solid employer branding strategy is critical to recruiting and retaining high-quality employees. HR professionals must think more like marketers to promote their company as a great place to work if they want to attract top talent.
The recently released 2019 Employer Branding Pulse Survey, conducted by iHire uncovered some staggering insights.
59.3% of respondents either had no employer branding strategy or were unsure of their branding efforts. Of that majority, nearly a quarter of companies had never heard of employer branding and 39.8% said they didn’t know enough about it to devise a strategy – signaling a market need for guidance on building, promoting, and maintaining a positive employer brand.
How important is employer branding? Here are the top 5 reasons provided by employers:
- It supports the company’s broader marketing efforts.
- It builds credibility and trust with internal and external stakeholders.
- It helps hire for culture fit.
- It improves employee morale/engagement.
- It’s critical to retaining top talent.
Organizations with an employer branding strategy are relying on a mix of channels to communicate their identity, with social media, company homepages, external job postings, company career pages, and print/digital collateral rounding out the top 5 outlets.
Keep in mind, your employer brand and corporate brand are separate entities. However, they represent two sides of the same coin. Both are supported by your organization’s identity, mission statement, core values, and culture. Your employer brand comprises your company’s reputation as an employer or place to work. And, just as your corporate brand is critical to distinguish your products and/or services from competitors’, your employer brand plays a similar role in the hiring arena. According to a study published in the Harvard Business Review, a positive employer brand can actually save you money down the line. Companies with negative reputations paid at least 10% more per hire, and just 28% of applicants could be persuaded to accept a job with the organization despite a larger paycheck.
If you need help building your employer brand give us a call. It will become easier to attract and retain exceptional, productive, and satisfied employees who contribute to the overall success of your company.