Employer branding is manifestly gaining more strategic significance in the modern job market with each passing day. It is your company’s reputation as an employer and can help you attain top talent if you have an impressive one.
Every company or organization has a reputation among its workers and staff. According to experts, establishing a strong employer brand that the company and its staff are proud of is more important than ever before. It sets the company apart from its competitors to attract top talent and increase employee retention.
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What is Employer Branding?
Employer branding is the way a company is perceived by job seekers and the staff of the company. It reflects leadership, values, company culture and tells the potential employees what it’s like to be a part of their workforce. Every organization has an employer brand whether they put efforts and resources into establishing one or not.
It is mainly influenced by the actions of the company such as the content posted on their social profiles, benefits offered to employees, and most importantly employee reviews. It shows how a company treats its workers. And it is communicated to the candidates via employee stories and reviews.
Benefits of an Impressive Employer Branding
A strong employer brand is a useful tool to prove an organization’s worth to potential employees and job seekers. It plays a significant role in attracting, engaging, and retaining top talent in the organization. Below are some benefits that make employer branding a reliable and essential investment for every company.
Reduce Time and Cost per Hire
A strong employer branding backs up your talent pipeline to make the recruitment process a lot easier and more efficient for hiring managers. When you get an influx of top talent, you are better able to vet applicants early even if there is no vacant position. This means, whenever you have an open position, you can quickly interview the candidates to fill the job instead of starting the hiring process by getting new job applications. And if there is a candidate who submitted applications to more companies, there will be more chances to attract the candidate because of an impeccable employer brand you have established. As a result, it reduces the time and cost per hire for your company.
Lower Employee Turnover
A strong employer brand helps you attract qualified candidates. And you really don’t want to replace your competent employees anytime soon. When you create a strong bond with potential employees before and throughout the hiring process, you encourage prospective workers to create a higher level of engagement with the company. An effectively engaged workforce not only increases overall productivity levels but higher company morale and lowers employee turnover as well.
Boost Employee Morale
Since an employer brand is usually based on how well a company treats its workers and how workers communicate with customers, an exceptional employee experience boosts employee morale and keeps them engaged with the organization for longer. There is a pride for employees that comes from working with a dominant and great company. This also makes employees feel that they are taken care of by the company. When a company invests more in employee training and support, this strengthens the employer brand greatly to boost employee morale and develops career paths for employees.
Just like employer brand impacts employee morale, retention rates of the company are hugely dependent on overall reputation. An impressive employer brand makes your organization a place where people love to come and stay. As a result, you are able to see a dramatic improvement in turnover. A low employee turnover is an obvious sign of a robust employer brand. This means, investing time and resources in building employer branding is well worth it in the long run and benefit your organization in many ways.
Build Trust and Credibility with Customers
An impressive and strong employer branding can hugely affect your bottom line because it attracts the top talent and the top talent of your company serves your customers better. The best team in place significantly increases customer experience and satisfaction. This means, if you are unable to attract competent employees, you may experience poor customer satisfaction as a result.
Employer branding allows you to attract and hire talented employees who provide customers with a positive experience to build trust and credibility. So, make sure to put work and resources into crafting a strong employer brand if you really want to grow your customer base and revenue as well.
When you ignore employer branding at all, you actually refuse to acknowledge that your organization’s reputation plays a significant role in attracting top talent. When you are unable to hire talented employees for your teams, you are less likely to improve customer experience and satisfaction. This will not only increase cost and time per hire but will negatively affect your bottom line too.