The Top Benefits of Having a Strong Employer Brand
Glassdoor research found that 86% of job seekers will check reviews on what it’s like to work at your company before they apply for a job opening. This jobs data is just one key aspect of having a strong employer brand that is important for your business.
Your employer brand (sometimes also referred to as the employee value proposition) is usually your company’s popularity and reputation. The brand comes typically from a possible employer’s perspective, and it shows why your company is such a great place to work for.
Maintaining your employer brand can be a daunting and challenging task, but there are many benefits that you’ll enjoy when you can have a strong employer brand. What are some of those benefits? Keep reading to find out.
Attract the Best Talent
Most job seekers will start searching by looking on social media or looking for the best workplace places. If people are going to leave their jobs, they’ll want to work for a company with a good reputation for treating employees well.
This is where your employer branding strategy comes in. Job seekers will check review sites like Glassdoor or social media sites to see what current or former employees say about working at your business. If the comments are primarily positive, top talent will feel more confident about applying to a position at your company.
If you want to promote this part of your employer brand, you can join the Best Places to Work Program. There are many benefits to joining that, and they also have specific programs for your particular industry.
For top talent that has their choice of employment, this can be an excellent place for them to start looking for a new job.
Improve Company Performance
When you have a good employer brand as motivation for employees to work, they’ll likely have a better performance at the job. When your employer brand is focused on employees, candidates and customers want to invest in your company.
For example, when Amazon had scandals of poor working conditions in their warehouses, many customers didn’t want to buy products from Amazon anymore. Additionally, many candidates might have heard about the news and decided that they didn’t want to apply for a job at Amazon. To recruit talent, Amazon had to raise their wages and promote any benefits.
This is how powerful an employer branding can be, especially with how fast information can spread on social media. Alternatively, you can use social media to promote great things you’re doing for your employees.
For example, one company offers new hires two weeks of paid vacation before they even start. This company hopes that people will be able to take a break when switching between jobs; however, this is also a great way to advertise your benefits and convince candidates that you’re an employer who takes care of their employees.
Save on Hiring Costs
When you have a strong employer brand strategy, you’re more likely to attract candidates to you. When more top talent applies, you’ll have a more excellent pool to pull from, which means you’ll have a lower cost-per-hire.
When job seekers are naturally attracted to your company, you don’t have to spend as much money creating awareness for your job descriptions. Instead of paying for job posting on job boards, all you’ll need to do is share your job opening on your social media channels, which is free.
You also won’t have to spend as much on advertising your business. Instead, your current employees will act as brand ambassadors and tell people how positive an experience working for you is. You could even set up an employee referral program to incentivize your employees to refer their friends and family to work for you. This will help save your recruiters time as well.
While you could offer an employee bonus for people who refer a good candidate, this is still cheaper than spending money to source candidates from outside sources.
When you have a great employer culture that attracts candidates, you may not have to offer higher salaries. For example, if you have a poor company culture, you might need to provide more money to convince candidates to work there.
But if you already have a culture that people want to work in, they may be okay with taking a lower salary. In fact, 71% of job seekers said they would take a pay cut to work at their ideal job.
Improve Employee Morale
When your employees aren’t happy at work or have low morale, this can affect their productivity. Employees who were more engaged with the company had a 21% higher profitability for the company.
Your employer brand focuses on how well you treat your employees, so treating your employees well will help to start to improve employee morale as well. When morale is higher, employees are more likely to write positive reviews and be brand ambassadors for your company.
If they feel like they’re working at a great company, they will be proud of it and want to tell everyone they know.
To take care of your employees, make sure that you help them develop their careers, support them, listen to them, offer excellent benefits and compensation, and make the workplace great.
Boost Retention Rates
When you have a better employer brand that improves morale, you’ll also create an environment that people want to work in. They’re more likely to stay at a company when this happens, which raises your retention rates.
Low turnover is a good sign that your company has a good employer brand, and it’ll also help save you money each year. Investing in employer branding is much cheaper than hiring to keep up with your turnover rate in the long run.
Improve Your Employer Brand Today
If you did an employer brand audit and found that you need to focus more on your company’s reputation to attract top talent, we can help you.
Whether you already have a positive employer brand, Recruiter.com has the solutions to help you hire the best talent. We have a powerful AI recruiting platform and an extensive network of recruiters who can find qualified candidates for you to help your employer branding strategies.
If you’re interested in learning more about either of these solutions, contact us today!
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