Tracking These 6 Employer Branding Metrics Will Help You Hire Better
If you want to create a successful recruiting strategy, you need to take a data-driven approach that looks at all aspects of the hiring process, especially your employer branding. Your employer brand is what sets you apart from other companies and can make a significant impact on your ability to attract and retain top talent. By tracking the success of your employer brand, you can find out if the public, especially job seekers, view your company in a positive light.
To get the most relevant information, you need to capture and analyze the most relevant data, without getting bogged down with irrelevant data. That's why it's important to track the right employer branding metrics. These metrics will help you stay focused on what matters most and give you insights that can help you reach certain employer branding KPIs that will improve your recruitment approach.
So, whether you're using a recruiting platform to fill a single position or an entire team, make sure you're tracking these five employer branding metrics. By doing so, you'll be able to make data-informed decisions that will help you create a compelling employer brand and attract the top talent you need to succeed.
6 Employer Branding Metrics to Track
In order to get the most relevant information, you need to capture and analyze the most relevant data, without getting bogged down with irrelevant data. You can measure the success of your employer brand using the following six metrics.
1. Employer Brand Awareness
If you're not paying attention to your employer brand, you could be missing out on top talent. Job seekers these days are savvy and do their research, with 64% of them investigating a company after seeing a job listing. If they can't find what they're looking for, 37% of them will simply move on to the next opportunity.
But it's not just about the numbers. A strong employer brand helps to build trust with potential candidates and showcases your organization as an attractive place to work. In fact, 91% of job seekers believe that a company's online presence reflects its employer brand, and failing to manage it effectively can harm your reputation.
So, if you want to attract the best and brightest talent, it's essential to take proactive steps to elevate your employer brand. Use social listening tools to monitor what's being said about your company and adjust your employer branding strategy as needed. And remember, a strong employer brand is not just about recruiting - it's about building a positive reputation as an employer that will attract top talent for years to come.
2. Number of Applications Received
When it comes to tracking the success of your employer branding, the number of applications received is an important metric to keep an eye on. A well-developed employer brand will attract more applicants for each position you post. However, it's important to keep these figures in perspective - having more applicants isn't helpful if they're not qualified. To ensure that you're attracting the best candidates, it's essential to also track the quality of the applications you receive. If the quality of candidates is poor, it's time to rethink your messaging in job descriptions, recruitment messaging, and social media posts.
3. Third Party Review Sites
Another important employer branding metric to track is your company's rating on third-party review sites. In fact, only 20% of job seekers will consider applying for a job at a company that has a one-star rating on these sites. Women are especially likely to read online reviews as part of their vetting process and are 25% more likely than men to do so. If your company has a low rating, it's important to take action to improve it. This might include appropriately responding to negative reviews, addressing common complaints, and showcasing positive employee experiences. By improving your company's rating on review sites, you can attract more qualified applicants and build a strong employer brand that sets you apart from the competition.
The Ultimate Guide To Employer Branding
4. Hiring Manager Satisfaction
Hiring manager satisfaction is a crucial but often overlooked employer brand metric. By finding out what hiring managers think about the quality of candidates coming in and being hired, you can gain valuable insights into whether your employer brand strategy needs tweaking. To measure this metric, it's essential to partner with hiring managers and find out their opinions. If the caliber of talent being brought in is not up to their standards, it's time to make changes.
Did you know that organizations with a positive employer brand can expect to receive 50% more qualified applicants than those with a negative employer brand? That's a powerful incentive to invest in your employer branding efforts. But on the flip side, having a negative employer brand can be costly. When a company has a bad reputation, the cost per hire can increase by 10%.
5. Diversity Of Applicants
When analyzing your top-of-funnel pipeline, it's easy to overlook demographic data, but this number is crucial when it comes to building a representative workforce through employer branding. By tracking the demographic data of your top-of-funnel candidate pipeline, you can check for diversity gaps, biases, and what types of candidates your job advertisements attract. This information will help you determine if your employer branding is inclusive or needs improvement.
To help you uncover diversity disparities, identify biases, and track progress toward your DEI goals, consider using Untapped's Diversity Analytics. With this feature, you can gain insights that will help you create a more inclusive employer brand.
It's important to note that a poor DEI reputation can have a significant impact on your ability to attract top talent. In fact, employer branding trends reveal that two out of three internship and first-time job seekers would not accept a dream opportunity with a company that has a poor DEI reputation. Similarly, Glassdoor reports that if there is a lack of diversity at a company, 32% of all people - as well as 41% of Black and 41% LGBTQIA+ candidates - will not apply for a job there.
In short, tracking demographic data is a critical employer branding metric that can help you create a more inclusive workplace and attract top talent. By using tools like Untapped's DEI Analytics to address any diversity gaps or biases in your employer branding, you can build a strong employer brand that sets you apart from the competition.
6. Stay and Exit Interview Information
To create a strong employer brand, it's essential to understand what makes people stay and what makes them leave. Conducting stay and exit interviews can provide valuable insights into the reasons for both retention and attrition. By analyzing this information, you can identify common themes and make changes that will help you build a successful employer brand.
Employer branding metrics can guide the way your company is perceived by job seekers and help you make changes that will attract the talent you want. A positive employer brand can make recruitment easier by increasing the number of applicants you receive, boosting the quality of hires, and increasing the chances that employees stay at your organization.
But when companies don't live up to their employer brand promise, they risk losing new hires. In fact, 30% of employees leave an organization within the first 90 days, and of those workers, 32% leave because of the company culture and 34% had a bad experience that caused them to quit. By focusing on your employer brand, you can reduce turnover by 20%.
One important aspect of employer branding is inclusivity. When an employer brand values inclusivity, 83% of Millennials report they are more engaged in the workplace. This demonstrates the power of creating a positive employer brand that is aligned with your company values and goals. By focusing on these employer branding metrics, you can create a compelling employer brand that sets you apart from the competition and attracts top talent to your organization.
Measure Your Success
In today's competitive job market, tracking the right employer branding KPIs is essential to attract and retain top talent. By measuring your employer brand's success, you can make data-informed decisions and improve your recruitment approach. From brand awareness to diversity of applicants, tracking these metrics will help you stay focused on what matters most and give you insights to build a compelling employer brand. By creating a positive employer brand that is aligned with your company values and goals, you can attract the best and brightest talent to your organization, reduce turnover, and create a more inclusive workplace.
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