companies globally are working on their employer brand to communicate with and attract the right talent
employer branding has become the buzzword in organisations across the globe. companies are leveraging their brand presence to communicate and attract employees who matter by displaying their workplace as unique and appealing. here are five reasons why it’s essential for organisations to focus on employer branding:
a tool to attract and retain quality talent
in order to acquire the finest talent it is critical for organisations to have a good brand reputation. companies that are perceived to be ‘attractive employers’ find it easier to recruit top talent and skilled employees. by clearly communicating the culture of the workplace, companies can attract talent that fits their organisational structure and ideals.
capitalize on the right people in times of economic downturn
in times of economic slump companies face high pressure to cut costs and boost productivity that creates a critical need to have the right people in the right jobs. employer branding can help in successful recruitment and retention of top talent in times of economic slowdown. brand value is a big motivator for skilled talent to stay on and support the organisation during its lean period.
leverage the company’s popularity and strength
an organisation’s employer brand in the market is ascertained by its past and current employees. if current employees don't feel the need to refer people into the organisation it could mean trouble for the brand. companies often give employees the tools and incentives to refer and get good talent on board, as this helps cut recruiting costs and increase the talent pool. further, being an attractive employer provides companies with more bargaining power as employees will want to work with them irrespective of salary levels. also, having an image of being the most desirable employer helps retain top performers.
a company’s product reputation is different from their reputation as an employer
companies must realize that what people think of their product or service is not similar to what they make of the company as an employer. people may love the company’s products/ services but may not consider working for the company. this boils down to the simple fact that the candidates the employer is trying to attract might not know what it's like to work for the company as they have no insights into the company and its culture. on the other hand if a company has an outstanding employer brand it is in a better position to attract the right talent.
boost business growth and profitability
appointing and retaining top performers is indispensable for business growth. employees with the right skills and experience drive organisational growth and profitability and can help the brand gain competitive advantage.
employer branding is where human resources, marketing, and talent management intersect to help attract the best talent. companies must leverage their employer brand given the aggressive job landscape. in a market with fierce competition, companies that wish to be different and prominent must offer candidates compelling reasons to join their company. the ones who pay attention to their employer branding initiatives will be able to benefit from improved application rates and will have a wide talent pool to choose from.