When any business is discussed, many of us consider the consumer-facing elements of its brand. Distinct visual design, brand messaging, and the overall customer experience all play a pivotal role in creating trust between a company and its target audience. However, there are other aspects of branding to consider.
Have you ever thought about the relationship between a business and its workforce?
Today, prospective job seekers consider much more than just salary when transitioning roles. Recent studies show that nearly 50% of employees prefer to work for a company that fosters a collaborative work environment and also has a positive impact on society. Your employer brand helps these individuals identify whether or not they should pursue a position with your firm.
Employer branding is an integral part of the employee value proposition and is becoming increasingly necessary for attracting and retaining top talent. Your ability to communicate a strong brand message will differentiate your firm and effectively set you apart from competitors.
What is Employer Branding?
Your employer brand is essentially the reputation you’re able to garner amongst the general workforce. It starts with how your market yourself to employees, both current and potential. Similar to corporate branding, an employer brand exemplifies your values and beliefs. This may include anything from sustainability goals to promoting diversity & inclusion within the workplace.
Why is Employer Branding Important?
Proper employer branding offers an answer to one very important question for job seekers – why should I choose to work with this company?
Establishing a reputable brand has been an important part of organizational strategy for as long as business competition has existed. While the impact of consumer branding is largely obvious, many firms aren’t aware that investing in a positive employer brand is just as crucial. Here are a few reasons why:
Employer branding helps retains employees and attract new ones. Now more than ever, potential and current employees consider brand image and corporate culture when transitioning roles. Job seekers often keep up with the social media channels of companies before applying to get an idea of their future employer’s expectations and to determine if they will be a good fit amongst other employees at the firm. Similarly, current employees keep up with employer branding to ensure the overall vision of the organization they work for remains in alignment with their own personal values and beliefs.
Employer branding reduces costs. Attracting top talent can have a substantial effect on company revenue. However, did you know it can reduce costs as well? The cost of recruiting employees is sizable for many firms. Working for a reputable company is very important to a lot of employees. Positioning your company as such will attract more candidates for open roles.
Employer branding improves employee engagement. It is no secret that employees who are proud of their employer’s brand are more enthusiastic and motivated about their work. High levels of employee engagement also leads to increased productivity and profits throughout the firm. Furthermore, engaged employees become advocates for your brand and are delighted to share their positive experiences with friends, family, and colleagues.
Example of Strong Employer Branding
Consider Ultranauts, a software and data quality engineering firm powered by a neurodiverse team of professionals. Over nearly a decade, the company has employed 75 team members across 20 states who all collaborate virtually. Ultranauts has invested a substantial amount of time and resources to develop a unique set of practices to support remote work for its employees – 75% of whom lie on the autism spectrum.
Ultranauts is steadfastly committed to hiring neurodiverse talent and promoting the benefits these teams can provide when solving highly complex problems. Their employer brand is very evident to job seekers and has had a significant impact on their ability to attract and retain qualified employees. When the company released a job posting for an open role recently, they received an impressive 150 applications in 72 hours – many of them coming from candidates with graduate degrees.
The significance of strong employer branding cannot be overstated for modern companies. Your brand exemplifies your company’s meaning and purpose, which is invaluable to today’s job seekers. Consider investing in your employer brand to strengthen your strategic advantage over competitor firms.