Recent research by analyst firm, Gartner has revealed that 62% of chief human resources officers (CHROs) report that their organisation’s talent attraction strategy is not aligned with their future workforce needs. Citing employer branding as one of the most important parts of attracting talent, Gartner’s research paints a worrying picture for firms that are hiring. While employment in the UK is at its highest since 1971, employers need to find distinctive ways to stand out from the crowd in what has become an employee’s market.
Employer branding can help businesses to do just that. With a similar purpose to your corporate brand, your brand as an employer includes the perception of your company as an employer and your value proposition to employees, both current and future.
Defined by the CIPD as “the way in which organisations differentiate themselves in the labour market, enabling them to recruit, retain and engage the right people”, a strong employer brand can make all the difference when competing for the attention of candidates for your open positions.
The CIPD points out that you have an employer brand whether you consciously develop it or not, it is based on the way the organisation is seen as a ‘place to work’ by potential recruits, current employees, leavers and retirees.
So, why should you care about employer branding?
Our own independent research found that almost half (42%) of HR professionals struggle with attracting and recruiting talent, while 47% of employers expecting to lose a tenth of their workforce in any given year.
This is where creating a solid employer brand can make all the difference. A positive brand (that is, your reputation as an employer is favourable in the market) means you won’t have to spend as much on recruiting costs, instead job seekers will find you and apply for open positions organically.
What’s more, a strong employer brand doesn’t just benefit your recruitment drive but also your existing employees. A well-defined employer brand means your existing employees will become your advocates. As a result, hires through referrals and word of mouth will increase. Attracting the right talent can be a costly and time-consuming process that can cost a UK SME upwards of £125,000 but if you get your employer branding right, you’ll not only recruit better candidates but also reducing hiring and marketing costs.
Your employer brand shouldn’t just be a regurgitation of your company’s mission statement and values but should get under the skin of what it is like as a place to work and should showcase your company on a human level. Everything from photos and videos of your offices and staff at work to company news and blogs should celebrate your business, employees and culture.
Maintaining a well-built employer brand that resounds throughout your entire company will improve retention and engagement amongst your current workforce. Your employees talking positively and promoting working for your business will further help strengthen your brand as an employer