Attracting and Retaining Talent with Employer Branding
Lana Cindric ·
Today's employees invest a lot of time and money in their education, and they expect their employers to do the same.
Competitive salary is off the table. Hiring in the 21st century requires much more because talent doesn't want to spend their time in a company that won't help them improve and advance in their careers.
And according to research, 84% of the talent you want to attract is closely monitoring your company's reputation.
Your PR matters as much as the benefits you offer.
In this blog, we'll discuss how employer branding can help you shape your image of the perfect employer in the eyes of the candidates.
Why Your Reputation Matters
We all know first impressions matter and this is especially true when you want to position your company as a good employer.
However, last impressions are important as well. This is the main reason why sites like Glassdoor, where employees can give into their need to share their (subjective) opinion on the workplace, rose to prominence.
Now, if your company has a good reputation, this is not a problem. You want them to share how great you are.
But if your reputation is subpar, you need to make immediate changes.
Otherwise, you could be at risk of losing the 50% of job seekers who wouldn't even dream of working for a company with a bad employer brand. Not even for a pay raise.
And it turns out, competitive salary isn't the only factor you should be using to position yourself as a good employer.
According to Glassdoor's research, there are precisely 5 things that applicants take into account when accepting a job offer:
- Career growth opportunities
- Work-life balance
- Location and commute
- Company culture and values
- Salary and compensation
While still on the list, compensation doesn't make up for the 99% of your talent's decision.
However, the trick is in showing the other aspects.
Without a well-maintained employer brand, stating that your company culture values work-life balance holds no value.
Show, don't tell.
Crafting Your Employer Value Proposition
Now, the impressions your company leaves on your past, present and future employees is important.
But a generic good impression is no longer enough. Your impression has to be just right for the type of talent you want to attract.
Essentially, your company should market to potential employees through personalized EVP (employer value proposition). You need to show each talent segment what makes your company unique.
Just like our consumers, our employees are looking at our values; 64% of Millennials would rather make $40k a year at a job they love, than $100k at a job that's boring.
For example, Google offers a lot of on-site amenities their employees need; from daycare and fitness to education. Their employees can feel as though they're at home when they're at work.
Other companies offer a stimulating work environment and retirement benefits (which are valued by the same Millennial segment of the workforce).
And just like them, your company needs to structure a unique EVP in order to attract and retain talent.
The first item on the list of factors that can help you shape your EVP is compensation.
However, in the age where career progression is important and 33% of employees believe they'll be changing their jobs to get better career growth opportunities, the compensation segment has to include information on promotions and evaluations leading to them.
Additionally, don't forget about roadmaps for your talent's personal career success. If they are helping your company succeed, quarter to quarter, they expect you to do the same for them.
Your EVP has to include information on how you educate and train employees, as well as provide feedback on performance.
The second factor you can use are the benefits you offer. In addition to standard benefits like insurance, retirement plans and education, you can attract talent by offering time off (which is prized by 41% of Millennial employees who take mental health days) and flexible working.
The third is the work environment you are offering. From job responsibilities and recognition to collaboration, your employees will value not only their salary, but the environment in which they'll be earning it.
It's of the utmost importance to show the atmosphere they will be working in, and make it as appealing as possible.
Finally, you can wrap up your EVP with your company culture. Sustainable companies are valued over any other by 70% of job seekers, and so is social responsibility.
And after you've crafted your company's EVP, and targeted it to the particular type of talent you want to attract, it's all a matter of showing it.
Implementing Employer Branding
You can implement your employer brand in two ways: through your existing employees (which will improve retention), and by advertising to the talent you are hoping to attract.
The primary channel you can do this through is social media. 79% of job seekers use it to look for a job, and 21% use it to thoroughly evaluate potential employers.
Additionally, due to social media's personal character (we use it to communicate with friends and family), your company can convey the feeling of being a friend to the talent you want to attract.
The first avenue is going through your existing employees.
50% of them are already talking about your company on social media, after all. And considering that 47% of referral hires are more satisfied with their jobs and stay at the company longer, using your employees as your company's social advocates has double the benefits.
In order to put this into practice, you should treat your employees as influencers.
Encourage them to create and share content about your company on social media. From everyday work highlights to achievements and recognition, everything positive can be successful at helping you attract new talent.
In order to attract talent on your own, you can publish content that reinforces your positive employer brand on social media.
For example, the hotel chain Marriott frequently publishes employee stories and testimonials. HubSpot frequently publicizes giving out rewards to employees who display the behavior aligned with HubSpot company values.
Finally, your employer brand should be visible to your talent even after they accept the job.
Make sure your company culture is constantly aligned with the values you are publicizing to attract talent. Conduct exit interviews, use feedback to motivate employees to improve, and invest in the people who are making your company successful.
Don't rely on marketing only for attracting consumers. It can go a long way towards showing talented job seekers that you're the right company for them.
And while it's good to brag about your achievements on social media, it's even better to motivate your employees to do it for you.
After all, no LinkedIn post reinforcing your positive employer brand can do what your employees can.
Start with them.
- Recruitment Statistics 2018: Trends & Insights in Hiring Talented Candidates (TalentNow)
- Hiring & Recruiting Statistics (Glassdoor)
- Survey: Flexibility, wellness key to employee retention (Benefitspro)
- Employee activists spark a new social movement in the digital age (Weber Shandwick)
- Jobvite's 9th Annual Recruiter Nation Survey Results (Jobvite)
- 65 HR & Recruiting Stats for 2018 (Glassdoor)
- 7 Benchmark Metrics to Help You Master Your Recruiting Funnel (Jobvite)