Ignoring your employer brand can have far-reaching consequences for your company, as both job seekers and your own employees are taking notice. Your team members know whether they're happy in their roles or not, and if they're not getting what they need from your company, they'll start looking elsewhere. And it's not just unhappy employees that you need to worry about - even content employees can be swayed by recruiters who are searching for top talent. By neglecting your employer brand, you're leaving the door open for other companies to poach your best employees. Don't make that mistake - prioritize your employer brand and show the world why your company is a great place to work.
Your employer brand can have a significant impact on your ability to attract top talent, as job seekers are more discerning than ever. Before even applying for a position, they'll do their research and if they don't like what they see, they'll quickly move on to the next opportunity. But it's not just job seekers you need to worry about - a negative employer brand can also hurt your company's reputation with consumers and investors. After all, who wants to do business with a company that doesn't treat its employees with respect?
According to CareerArc, more than half of consumers have stopped purchasing from a company after hearing about its poor treatment of employees. The good news is that by prioritizing your employer brand, you can reap the many benefits of a positive reputation as an employer. So don't underestimate the power of your employer brand - it can make all the difference in the world when it comes to attracting and retaining top talent, as well as keeping your customers and investors happy.
5 Benefits Of A Strong Employer Brand
Establishing a strong employer brand takes time and effort, but it is a critical component of any successful business strategy. Companies that prioritize their employer brand can reap a wide range of benefits that are crucial to their success. Below are just a few reasons why all companies should invest in an effective employer branding strategy.
1. Controlling Your Own Narrative
First and foremost, one of the benefits of employer branding is that it allows you to tell your company story the way you want it to be told. If you're not telling your own story, you can be sure that someone else will fill that void—whether it's current employees complaining about your organization on social media or disgruntled past employees leaving negative reviews on third-party sites. If this happens long enough, your reputation among job seekers can tank and once you lose control of your own narrative, it’s almost impossible to get that horse back into the barn. This means companies need to not only nurture an employer brand that makes workers happy but tell their own success story over and over again to drown out the noise of discontent.
2. Attracting The Best Talent
The best talent can afford to be picky, and they're not willing to entertain offers from companies with a less than stellar employer brand. Nor will they stay at companies not giving them what they want.
And what does talent want?
According to LinkedIn, workers think a good employer brand consists of five characteristics: job security, professional development opportunities, opportunities to work on better teams, shared values, and a positive narrative from past and current employees. These characteristics are so important, in fact, that having three of them is enough to attract 41 percent of workers regardless of the salary being offered. This number jumps to 46 percent if companies have all five of them, also irrespective of pay. In addition, 40 percent of workers admit that they're willing to move to another organization that has most of these qualities, even if they don't get a pay increase when they do.
3. Boosting Key Recruitment Metrics
Tackling recruitment in a data brave way is always the best approach because it allows you to understand where you are, and make a plan to get to where you want to go. A strong employer brand can contribute to improving your recruiting metrics in several ways. When candidates are confident that working for your company would be the right choice because of your employer brand, your offer-acceptance rate will get a boost and it will take less time to fill open positions—thus also contributing to a lower cost per hire. In addition, a good employer brand can help to drastically reduce your turnover rate because you’re giving workers what they want and need.
Employer branding has a direct impact on the metrics that matter most to recruiters, so creating a strong employer brand can help you hit your TA goals.
The Early Talent Sentiment Report
4. Standing Out From the Competition
If you don't have the name recognition of larger companies in your industry, recruitment may be challenging. Your brand isn't as well known as the big players, and you don't have the recruitment budgets they do. You can level the playing field, however, by building a strong employer brand. Creating an appealing work environment and selling it on multiple channels allows you to become a talent magnet, even if you're competing with the behemoths of your field.
5. Maintaining Credibility Among Customers
While companies spend a lot of time trying to beat out the competition, most don't realize the impact their employer brand has on what consumers think of them. For example:
- People notice when there are constant stories about a company mistreating its employees.
- Customers notice when the organizations they do business with have constant turnover.
- Consumers are not willing to support companies that don't treat their employees the way they deserve to be treated—and they're showing their support with their wallets by gravitating toward organizations with a known positive employer brand.
Additionally, investors are more likely to put their money behind organizations with a favorable employer brand, so it can have a huge impact when seeking funding.
Whether you're concerned about attracting new talent or holding on to the talent you already have, employer branding should be a priority. The benefits of having an employer branding solution cannot be understated because they are associated with the health of your company from the inside out.
Looking to improve your employer branding strategy and reap the benefits? Contact Untapped today to learn more about our platform and how we can help you attract and retain top talent. Get a personalized demo today!
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