With more companies being founded and competition increasing, many companies are realising the importance of clear branding when appealing to the top talent and remaining competitive. If you are not convinced by the idea of employer branding or are trying to work out how it relates to your business, then take a look at some of the main reasons why it is important below.
Many businesses are reticent to invest in employer branding because they believe it will cost them more than it will make. However, recent studies show that it can actually decrease the costs you incur when you are hiring.
Sound crazy? The theory is that by only investing in your cash into your brand, you will not need to spend your profits on expensive recruitment campaigns or advertising costs to help draw interest in your business.
Plus, when you have a consistent employer brand, you will be more attractive to the natural talent that comes your way without you having to put any special effort in – it’s at this point that you will know that your employer brand is strong and productive.
If you do not have a strong employer brand, then the likelihood is that you can expect to pay thousands more in salary costs to attract the type of people you want to employ. These costs are ongoing, and when you calculate how much you are paying extra to each individual, you will see that investing in an employer brand would actually save you a fortune each year.
It’s obvious that potential employees will be keen to secure the best salary for the job they are applying for, but research by CareerBuilder shows that over two-thirds of candidates would readily accept a lower income if the company they were applying to had a strong and positive reputation online. When you stop to consider this, it is clear that there are huge potential savings to be made if you invest in a strong employer brand.
This stat is relevant regardless of whether you are an international corporation or a small start-up because ultimately, every business is working towards turning the best profit possible every year.
It’s not a shock that as the world evolves, so do people’s attitudes to work. Historically people would look for one job that they would do for life with a perception that success is made through loyalty and longevity.
These days, employees are more discerning about where they work, and many millennials will readily leave a business if they feel that the company culture does not align with their values and beliefs. This means that by advertising who you are as an employer through your employer brand, you are letting people know what to expect when they come to work for you.
Reaching these candidates is vital to the future success of your business, and by sharing your employer brand via social media channels, you will be appealing to an audience that has the skills and talent that you want to bring into your business.
It’s clear that a strong employer brand makes you more attractive to prospective employees, but it also drives better-qualified candidates to your door too. This means that you can spend less time and money on recruitment and getting better applicants than ever before! Why don’t you take the time to invest in your employer brand and then look forward to reaping the rewards?Back to NewsJob Search