Today’s generation of job seekers is interested in more than the salary and benefits a prospective employer can provide. They want to work for firms with a good public reputation in terms of pay, benefits, environment, and values. They want to know if a company truly cares about them.
One way to communicate your company’s identity as a workplace or employer is through employer branding. “Employer branding” could mean building brand awareness, like creating a company logo or brand messaging and how it is perceived by consumers (or job seekers). Still, people do not pay attention to the value of employer branding.
Let’s learn more about employer branding and how it can help you attract the right job seekers for your vacant positions.
What is Employer Branding?
Employer branding is simply your reputation in the workforce and how your employees see you as an employer. It’s the image you build as a place to work. It is how you market your company to job seekers and in-house employees. The better your employer branding is, the more likely you will attract and retain the right talents.
Employer branding should focus on finding the right talents for the position, not more. Hiring the wrong candidate can bring negative implications beyond monetary damage, so ensure that your employer branding is effective enough to call on people suited for the job.
One major component of employer branding is employee value proposition (EVP), or the valuable items employers can offer, such as pay, benefits, and career development. It can also include technology, remote work, and flexible scheduling.
Most organizations often overlook this asset when it can save the company more money, improve the recruitment process, and prevent the brain drain of your employees. Gartner revealed that a good EVP could bring a 70% decrease in employee turnover and a 30% increase in new hires annually.
Why is Employer Branding Important?
1. It highlights your employees as your most loyal advocates
Job seekers search for employee reviews as part of their criteria in choosing an employer. When your talents share their positive experiences at work within their social circles and social networking sites, it builds a good brand reputation among the workforce, saving you money on marketing efforts since awareness increases through word of mouth.
Turn your employees into brand ambassadors by encouraging them to share their positive experiences in the form of employee spotlights. Posting these things on socials can attract and influence potential candidates for the job. It will also help ease your company’s recruitment strategies.
2. It improves the retention rate
Solid employer branding will give your employees compelling reasons to stay. Good retention will also help reduce the costs that come with a high turnover rate, such as paying severance packages and unused sick and vacation leaves.
3. It reduces recruitment costs
Having a well-known brand means fewer expenses for recruitment marketing since candidates will actively look for you and apply to your vacant positions naturally. With fewer recruitment costs, you can allot more budget for improving branding or product development to step up against competitors.
Aside from that, recruitment efforts lessen since your current employees can bring more referrals to your company. Candidates are willing to accept lower pay if they can be in a company with excellent work experience reviews and an established reputation.
4. It helps improve overall company performance
Organizations with well-executed branding will always be attractive to skilled professionals. They want to pick an employer with a solid brand reputation that shares their values. When you hire these types of people, you also improve the company’s overall performance.
Effective employer branding and talent create a domino effect: a good company will attract good employees, and good employees will bring good performance and engagement. Likewise, good engagement within the company will show good work culture and environment.
5. It improves the company’s reputation
As a company, you should acknowledge the undeniable connection between employer branding and employer reputation. Ensure that the work experience you promote to job seekers matches the experience in reality. Your employees will be proof of how good your branding is. Their satisfaction will reflect in the quality of their work and how they speak of the company.
Employers who deliver on the experience they promised yield better recruitment, engagement, advocacy, and retention. You get to build trust and loyalty with your employees, and they become more productive and exceed expectations since they genuinely enjoy and feel secure working in the company.
Let Your People Prove Your Branding
Effective employer branding is essential in the recruitment process because it makes everything easier for the recruiter. Your employees would become your brand advocates. They could find equally-competent hires who would improve the overall company performance and remain there because they feel valued.
Make sure to get your employer branding on point and hire top talents for your company by collaborating with an equally reputable headhunter and recruitment agency in the Philippines. Manila Recruitment is an established name for finding haystack candidates for Philippine-based positions.
Contact us today for more information.