As the world is revving to restart the economy and recover from the pandemic that is COVID-19, companies are once again opening their doors to new hires. It’s not that simple, however, to attract and recruit top talent. What does it take to garner the interest of candidates? How do I get talent to come knocking at my door? Before we answer those questions, let’s take a look at the concept of employer branding.
What is Employer Branding?
The long and short of employer branding is reputation. It’s how you’re viewed as an employer. Millennials and Gen Z-ers grew up in the burgeoning IT age, and they now make up 38% of the workforce. You best believe they’re going to look your company up before deciding whether or not to take your job offer. Don’t believe us? A shocking 75% of job seekers look up a company’s employer brand before even applying for a job there.
Employer Branding Facts You Have to Know
1. Candidates Get to Choose
According to a report cited in our Recruitment Masterclass webinar, there will be an increase in volume of hiring, giving way to a 76% increase in hiring costs. This makes for a market driven by candidates. Understanding and incorporating employer branding initiatives is a great way to start for any company that is looking to reduce costs and improve employee experience.
2. Strong Branding? Decrease in Hiring Costs
Conversely, companies that DO properly manage and grow their employer branding have experienced a 43% reduction in hiring costs. These companies don’t have to exert as much effort and resources compared to competitors that have weaker employer branding.
3. Candidates Trust Employees More
Something else of note is that candidates are 3 times more likely to trust employers that have positive employer branding. In fact, candidates who want to know more about an organisation will often prefer to speak to employees because they reflect the true nature of what’s going on on the inside. Want positive feedback from your employees? Better get your employer branding right.
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4. Good Employer Branding: More Applicants
A staggering 94% of job seekers are likely to apply if employer branding is managed well. This shouldn’t come as a surprise. Candidates want to be valued if and when they come on board as an employee. They’ll want to see companies putting active thought in employee motivation and treating them with respect. Also, a study done by CareerArc found that companies that managed their online presence poorly were viewed negatively by candidates. Having a constantly updated social media and website projects the image of an involved and tech-forward employer.
5. 200% Higher Recruiting Speeds, 50% Higher Qualifications
LinkedIn reports that having a great employer brand correlates to faster recruiting speeds and getting more qualified applicants. For larger companies, this can equate to millions of dollars in savings.
6. Employer Branding: Hire with Social Media
When you’ve got employer branding management down pat, rapid recruitment with social media becomes a viable alternative to more traditional methods. In fact, 70% of employers successfully hire using social media. What’s more, 80% of employers say that social recruiting helps them engage with passive candidates (someone an employer is considering for a certain position, but who is not actively seeking new employment).
If there’s one thing you can take away from that, it’s to take employer branding seriously. Next, let’s explore what you can do to get a head start in the right direction.
Step 1: Identify What Makes Your Company Different
Every company operates differently, and as such have different business vision, mission, corporate culture and values. Get to know how your company’s DNA, what makes it tick, what you do differently. Once that’s identified, you can now discern what kind of talent is needed to hit those targets.
Step 2: Put it Into a Credible Snapshot
Tell your company’s story with high quality videos, photos, and thoughtful captions. Authenticity is key here. In this case, the employees of your companies are the superheroes. Remember, when it comes to candidates, employees are 3 times more trustworthy than your CEO.
Step 3: Manage Your Online Platforms
Does your company have a Facebook page? Maybe an Instagram profile? Have been updated recently? Start experimenting and finding your company’s tone and style. Show off your employees’ little victories every day. A good example here is SAS Software’s Instagram profile, which features short videos featuring employees in their natural ‘habitat’! It’s clear that there’s an emphasis on connecting with their employees on a human level. Employee input is an excellent starting point especially for smaller companies that are looking to bolster their social media platforms. Beyond having a Facebook page, a company blog might be a good idea if you’re trying to build on your company’s employer brand. Job seekers often check out a company’s website and/or blog. It’s a place where your employees and company leaders can share their content, be it written or visual. The blog’s user interface, colour scheme and overall feel can also have an effect on visitors.
What Else is There to Do?
Evaluating and maintaining your employer brand is no walk in the park, but taking a long, hard look at an essential business process pays dividends. Enter the employer brand audit. What is that, exactly? An employer brand audit is basically research conducted by you or a firm that does reputation monitoring to find out how your company is viewed in the market and by your current employees. This crucial step might help bring to light what the next step is in your employer branding management.
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