This magical thing called Employer Branding allows companies to attract talent, reduce employment costs, increase the organization’s visibility in the labor market and recruit more qualitatively, but that’s not all. Is it so? After all, numbers don’t lie, and statistics tell us a lot on this subject. Why is it worth investing in Employer Branding activities, and are they crucial in a labor market which is constantly growing?
The first fact — the figures do not lie
Let’s start with what cannot be disputed — the statistics. Today, 72% of recruitment leaders worldwide agree that an employer brand has a significant impact on hiring, let alone on an organization’s success (source).
Organizations in a growth phase need to attract new, ambitious employees to skillfully distribute the increasing number of tasks and responsibilities, conquer new markets, win new customers, and, most importantly, fulfill existing obligations. A skillfully tailored Employer Branding strategy allows us to reduce employment costs by 50% ( source) increase the number of matched applications by 50%, and speed up the time to hire by 1–2 times (source). Let’s not forget about the employees we already have — thanks to them organizations can feel stability in the transfer of knowledge and continuation of projects — Employer Branding allows us to reduce employee turnover by up to 28%. That’s a lot, isn’t it? Especially considering the labor market is struggling with the Great Resignation “trend” — over 40% of employees are open to changing jobs (source). With the simultaneous trend of increasing the number of employees in organizations, this could lead to a point where there are fewer skilled workers than jobs.
Fact two — Growing labor market = more recruitment competition
Growth is the driving force of the labor market. It affects not only organizations which, following their business goals, develop their structures, expand their activities, and conquer new markets. Development directly concerns top talents, whose aspirations are growing, as is the desire to acquire new skills, which guarantee them a well-established position in this rapidly changing world, and a sense of professional fulfillment, not necessarily preceded by long-term building of a professional path. The current labor market allows us to want and achieve everything faster and more. Recruitment competition in today’s reality, connected not only by roads and bridges but also by internet, is global. The COVID-19 experience has opened the job market, allowing us to perform our duties remotely, often from anywhere. It is the globality of recruitment competition which makes today’s recruiters resemble marketers selling top talent a new job offers. After all, for a long time now we have not simply been talking about recruitment, but about recruitment marketing, the tools for which have been provided by … marketing itself! Any experienced marketer knows that to make a successful sale, you need a great product or service, and same with the recruitment, but we need to replace the product with a combination of the employer’s offer and the unique values, benefits, and EVP of the brand.
Fact three — satisfaction and truth
The basis of skillful Employer Branding strategy design is truth — we use data that does not lie. Organizations building their EVP or values on invented statements and trite slogans will not create a long-term and valuable relationship with an employee. And after all, there are penalties for empty promises — such situations can result in employees resigning or being paid above market standards to keep an employee in the organization. 52% of candidates want to find out more about the employer — they first look for information on company websites and then on the organization’s social media (source). How do you communicate valuable information to candidates? Job seekers trust employees of potential organizations up to 3 times more than the company itself when it comes to providing credible information about working for the organization. Employer branding is not something that happens in a few days. It is a long-term process consisting of surveys, statistics, analysis, and constant attention to employee satisfaction. Satisfied and fulfilled employees may want to share what it’s like to work at an organization — often all you need to do is ask them.
What matters the most
Does today’s labor market need effective Employer Branding strategies? Taking into account global competition and constant development, it can be concluded that today’s labor market cannot fully function without effective Employer Branding strategies based on truth, satisfaction, and the organization’s business goals. Undeveloped employer brands, even those developing strongly, stand in contrast to organizations that build their image in a thoughtful and holistic way — from the inside and the outside. What awaits organizations that do not think about Employer Branding? They will survive, but will they be able to attract employees who will help them achieve their business goals? In the field of recruitment and satisfaction, the best will win.
There is no one-size-fits-all approach to Employer Branding. It should always be approached by context or insight, for example, the...
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