It is getting harder to find talent with the right skills, according to employers who are struggling to fill open jobs. Companies are allocating resources to acquire the necessary tools and technologies and stay aligned with the ever-evolving digital landscape. However, it's time to acknowledge that success requires more than just having the correct technology in place. Why do the right candidates choose your competitors? The answer is simple – you lack employer branding. What does this buzzword mean, and how to ensure your company looks attractive to job seekers?

What is employer branding?

In simple words, employer branding is your company's image in the eyes of job seekers. It defines your company’s core identity and sets you apart from others. Successful branding conveys a clear message that your organization is a reputable employer, thereby enhancing recruitment efforts, employee engagement, and retention.

When executed effectively, employer branding generates enthusiasm about your company, attracting enthusiastic job seekers and cultivating a contented workforce. These individuals often share their positive experiences with prospective job candidates, clients, customers, and other stakeholders, extending the influence and reach of your employer brand. Moreover, studies show that a significant 69% of potential job candidates would probably decline a job offer from a company with a bad reputation.

Benefits of employer branding

Some business owners doubt whether it is worth investing in employer branding. Here are a few advantages that will fully dispel these doubts.

Lower recruitment costs. A strong employer brand means that your company has already claimed its presence within the industry, and you are recognizable on social media platforms. When you announce a job vacancy, your subscribers come across it and distribute it within their own networks. Your offer can reach numerous candidates with zero expenses. Thus, you do not depend on external recruitment agencies. Integrating AI recruiting technology into this process further expands your capabilities. This helps you use data-driven insights to more effectively target and attract potential candidates, ultimately reducing your overall recruiting costs.

Better employee retention. Experts believe that the workforce turnover rate will reach a frustrating 24% in the coming years. A strong employer brand knows how to create favorable workspace. It offers competitive compensation, abundant career opportunities, and a culture of respect. These factors encourage employees to stay instead of seeking alternative employment.

Improved productivity. A positive company image influences not only the hiring process but also boosts productivity. Employees who are satisfied with their jobs are usually proud of their company. Consequently, they intensify their working commitments.

In periods of economic instability, investing in your employer brand might seem an extravagant expense. However, HR experts understand that building brand recognition and strengthening a brand perception among potential candidates and existing staff is a long-term strategy.

How to grow your employer's authority?

Here are some steps that will help you drive your brand forward.

Conduct an audit of your brand. 

The very first thing is to learn how everyone sees your company. To get a response, you should conduct an audit of your employer brand to gain an understanding of the existing perceptions about your organization. This assessment will reveal what aspects are currently effective for your brand and where improvements are necessary. 

• Run anonymous surveys. Encourage current and new employees to share their thoughts, concerns, and suggestions regarding the workplace.

• Check employment review sites. Platforms like Blind and Glassdoor host reviews from current and former employees, unveiling valuable insights into what people think about your company and its work environment.

• Monitor social media. There are social media tools that can track mentions of your brand on various social media platforms.

This information will help you establish a clear direction for your employer's branding strategy.

Create your EVP.

This abbreviation stands for Employer Value Proposition. It tells candidates why they should choose your company. Your EVP should emphasize both the concrete and abstract advantages of being a part of your company, such as the workplace atmosphere, benefits, and potential for career growth. Embracing a growth mindset can truly make a difference, enabling employees to continually evolve and adapt to new challenges. In simple words, EVP is a promise you make to your employees in return for their commitment. It entails all the benefits you are ready to provide for diligent performance.

You should analyze what sets your company apart as an excellent workplace to create an EVP. This might encompass aspects like competitive salaries, thrilling projects, adaptable schedules, and a cozy corporate environment. Once you've pinpointed your company's distinctive strengths, you can begin formulating an EVP designed to resonate with potential hires.

Set clear goals.

Before investing in your employer branding, you should understand what you want to achieve. The strategy can focus on improving company morale, employee retention, or attracting top talent.   Having a well-defined vision of your aims, you will avoid investing time and resources in things that do not advance your ultimate goals.

Use the SMART criteria to define your goals – they should be Specific, Measurable, Achievable, Relevant, and Time-bound. Instead of a vague statement like, "We want to reduce retention," you should shape it like, "We aim to achieve X% employee retention in a year."

Select communication channels.

Now, it's time to audit existing employer branding content and promotional channels. Employer branding content includes your corporate website, social media profiles, and job platforms. With the rise of technology, many businesses are also leveraging AI headshots to enhance their digital presence, making their profiles more dynamic and engaging. These platforms and tools are spaces where your brand interacts with its intended audience. These are spaces where your brand interacts with its intended audience. However, there is no single location that would suit all companies. You should conduct some research to identify where your ideal candidates typically gather for information and ensure that you establish a strong employer brand presence in those spaces. The most popular channels are:

• Social media platforms such as LinkedIn, Twitter, and even TikTok.

• External platforms for employer reviews, like Indeed, Blind, and Glassdoor.

• Specialized communities and professional networking groups.

Monitor and adapt.

As you implement your plan, it's essential to pinpoint specific key metrics to monitor. Doing so will provide you with a clear understanding of your progress towards your goal. Relevant performance indicators will demonstrate the quantitative outcome of your branding strategy:

• The number of job applicants.

• The professional level of job applicants.

• Employee satisfaction.

• Employee retention and turnover rates.

• Company reputation rating.

These KPIs may differ from company to company based on their specific aims and goals. Nonetheless, the mentioned list comprises some of the most prevalent employer branding metrics.

Examples of successful employer brands

It is one thing to create theoretical guides to promote the employer brand. But how does it all look in practice? Here are a few short stories of popular companies' steps to increase their potential to attract employees.

Loreal

The company was looking for a way to enhance global recognition of its brand culture and discovered that 70% of its LinkedIn followers are interested in job opportunities. Thus, L’Oreal initiated the "Are You IN" campaign that attracted 300,000 followers and, consequently, brand advocates.

PayPal

The company is promoting on social networks its effort to offer equal compensation to both male and female employees. And this global equity has been maintained for several years in a row.

Netflix

One of the initiatives of the company is the WeAreNetflix YouTube channel. It showcases videos featuring profiles of its staff, portraying how the company's culture provides support and celebrates their individual identities.

Conclusion

The significance of employer branding should not be underestimated. It is your reputation in the eyes of your employees and the whole industry. It can foster a workforce that is enthusiastic, dedicated, and eager to be a part of your company.  

Companies that invest in employer branding strategies will find themselves better positioned on the market. Thus, employer branding is not just a trendy concept but a powerful tool that can transform your workforce for the better.