The term “employer branding” refers to the method of controlling one’s image as an employer among prospective workers, current workers, and other influential parties. It includes everything your company does to stand out as an appealing place to work.
The term “employer brand” refers to the company’s standing in the job market. What prospective employers and current staff members think of you, in plain English. When you’re not there, that’s what people say about you to their loved ones. Even though it’s intangible, your company’s reputation as an employer is something that must be fostered over time.
Every business has one, whether or not its leaders are aware of employer branding services. It’s not only what they do, like what they post on social media, but that also affects the outcome. It’s a reflection of how a company treats its employees, as told via their own accounts. What will your present employees say about you when potential new hires inquire about your management style or when they post an online evaluation of their work experience?
Reputation is crucially dependent on the word of currently employed individuals. Therefore, ensuring their happiness is crucial. A better name makes you more appealing to top talent. That’s why a lot of businesses put effort into cultivating a positive reputation as an employer.
- Perceived employee worth
Different from employer branding, EVP focuses on the consumer. It’s a term for when a company guarantees its workers a certain set of perks in exchange for working for them.
A positive EVP shows that employees are value and respect. A company’s employee brand, on the other hand, is a representation of the team’s image in the eyes of the public.
Your brand may be affect by your EVP. It’s possible that a company’s image may be enhance if it regularly reward its employees. But they’re different in that the former describes your company to new employees while the latter describes the benefits of working for you to those who are already employed.
- Perks of Having a Solid Company Image
The significance of establishing a positive reputation as an employer is difficult to overestimate.
The first online job boards didn’t appear until the mid-1990s, although the idea has been around for decades. Employees had access to millions of jobs around the nation in what seemed like a blink of an eye. Employment was less stable than ever before, with few people spending their careers at a single firm.
Although many forward-thinking companies have already begun to use employer branding solutions to their advantage in the struggle for talent, it’s estimate that thousands of others have yet to fully realise its potential.
EMPLOYER BRANDING’S IMPORTANCE
First, let’s take a look at some numbers that illustrate the significance of workplace branding.
Reputation of the Company
In fact, 75% of job-seekers say that a company’s reputation is important to them when making career decisions. Active, passive, and even on-the-fence job seekers alike will weigh your company’s image heavily when deciding whether or not to apply.
77% of prospective employees are interest in learning more about your company’s ethos before submitting their resumes for available positions. Job-seekers are giving us explicit feedback on what they expect from prospective employers. These benefits may be promote via your workplace branding activities.
Perception of the Brand
An overwhelming majority (69%) of job seekers would turn down an offer from an organisation with a negative employer brand. An unfavourable employer’s reputation can’t overcome by the threat of losing one’s job.
Companies with a negative reputation as an employer must boost salaries by at least 10% in order to compete for skilled workers. Consider the cost of a 10% surcharge on every new employee. Is it possible that you are already paying that extra because of the reputation of your company as an employer?
Without a raise in salary, 41% of passive applicants would take a new employment at a business with a strong employer brand. Nearly half of all workers may get over the stigma of a lateral transfer with the help of a great employer brand.
Twenty-three percent of the working population between the ages of 18 and 34 would take a wage sacrifice to work for a firm with a strong employer brand. This highlights the importance of reputation, while articles in no way advocate deliberately undercutting competition.
Gain from Referrals
Certified outstanding organisations have an employee recommendation rate of 86%, whereas the typical company only has a recommendation rate of 56%. In light of the fact that word-of-mouth recommendations from current staff members are often the most promising way to find new hires, this is a particularly disturbing development. If just a little more than half of your current staff would suggest you to their network, you can forget about making those recruits.
Collaborative Environment That Encourages Difference
When applying for a job, 86% of applicants think about a company’s dedication to projects. If your company’s employer brand and recruiting methods are seen as bias, qualify applicants dissuade from applying. If you want to hire top talent from all walks of life, creating a welcoming work environment is a must.
Advanced Professional Training
Seventy-six percent of potential employees are influence to apply to a firm because it offers training and development opportunities for their abilities. Create a solid training and advancement programme, and you’ll attract ambitious workers that want to grow with the organisation.
These data show, more than anything else, that employer branding has an effect on every aspect of the employer-employee relationship. Employer branding is frequently connect with hiring new staff, but it also has an impact on retaining existing workers and increasing the company’s bottom line.
There is a skills gap in certain employment markets, making it more difficult for businesses to fill open positions. Having a high income is no longer sufficient. It’s the company’s reputation as an employer that matters most to prospective employees.
Article first established why employee engagement program is so crucial, then gave some concrete examples and actionable advice.