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Why is Employer Branding essential for your business

Employer Branding

Employer Branding

Your company has an employer brand, whether you have actively pursued one or not. Due to this fact, any company signals what candidates can expect, gain and learn from working there.

Every company has a reputation. It could include thoughts about your products, services, leaders, team members, history, and more. And your company’s reputation can also go beyond to inspire a specific perception — emotional, instinctive, intellectual — in the people who see your ads, use your products, and eventually, speak to others about you. That reputation is known as your brand, and it can be a powerful, mysterious, and synergistic force — far more than just what you sell or office.

Companies that consistently attract the best talent get one thing right: Employer branding.

Ultimately, you spend plenty of time creating a compelling, incentivizing brand story surrounding your products or services. But how long do you spend cultivating a powerful employer brand to ensure you attract and retain top talent?

Does your company have an employer brand? Whether you’re actively working on it or not, your company is building an employer brand every day.

An even more important question arises – why does my company need employer branding?

Now 72% of recruiting leaders around the world agree that employer brand has a significant impact on hiring, and even more so has a significant impact on your business’s success.

For organizations that aren’t quite sure why they need employer branding; we’ve put together the 3 reasons why employer branding is so important for your business.

1. Decrease in cost per hire

According to LinkedIn, a company with a stronger employer brand than its competitors on average see a 43% decrease in the cost per candidate they hire.
Why? Because by simply investing in your employer brand, you don’t have to spend all of your hard-earned profit on advertising and marketing campaigns creating awareness for your business.

2. Reputation carries more weight than money

Sure salary is important to candidates, but it’s not the most important factor. CareerBuilder reports that 67% of candidates would essentially accept lower pay if the company they were interested in had very positive reviews online. Think of the money you could save. As the stats show – we’d advise you not to ignore your employer brand. No company, from the big leaders to small start-ups, want to spend more money than they should right? Right.

3. 50% more qualified applicants

Employer branding becomes even more important in highly competitive sectors where niche skill sets are in serious demand.
So you’re wasting far less time shuffling through unqualified candidates and getting the candidates that fit your criteria.
There you have it. Employer branding is statistically proven to make a night and day difference to your business’s talent attraction efforts.

No matter the size of your company and your needs for new talent, all successful companies need to invest time and money in employer branding. As unemployment rates get lower and the number of vacant positions increases, only those companies with a solid employer brand will be able to attract, hire and retain top talent.

Does your company need to up its employer branding game?

Drop us a line at contact [@] greenumbrellahr.com

 

 

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