HR management is now facing the truth about employer branding and its impact to talent acquisition. This functional department has more than just a job to fulfill; speaking in terms of business language it must create a demand for its organization if it is to become a talent magnet in the job market. In fact the concept of employer branding is not new; even before talents who have concrete plans of growing their career seek employment from companies that portray corporate stability and genuine interest in its workforce. These days employers and talents are on equal footing when looking for a good match, both is in search for the perfect fit. But to the organization, pooling in the best talents has become so significant due to the tough business competition; they see intellectual capital as a strong driving force for steady business growth. It is no longer enough that you have a good number of employees when only a handful can create a major breakthrough for the company. Strong employer branding optimizes talent acquisition thus giving your organization a breath of fresh air.
How does employer branding create impact in the job market?
Savings on corporate investment
In talent acquisition significant investment is at play that is why monitoring the metrics involved in hiring are always reviewed so that changes can be made for mode of actions that prove ineffective. But among other things, surveys comprising of corporate recruiters vouch that organizations with strong employer branding save the company more money in the process, in which the cost per hire becomes significantly lower by 200%. In much the same way that when a talent is attracted to a company with strong employer brand there is also a great chance that the same talent will stay for a long time, thereby also reducing employee turnover rates.
Perceived corporate attractiveness becomes second nature
Employer branding when strategized and done from inside out snowballs into an effect that resonates instantly in the job market, making it very hard for prospective talents to not notice. From the branding efforts in print materials to the positive language spoken by the whole workforce, the value put on the corporate image will create an attraction that hits the target.
Sparks interest even to the passive candidates
The term “passive” may mean as it is – inactive. Some would say that passive employees were once active until such time that their position has become a comfort zone without the need to switch jobs. Yet among these people are out-of-the-box thinkers that only need some stirring of their intellectual interest. A strong employer branding sends the signal that says “put life back into your career by exploring new worlds”. A good stretch from an exciting company with growth prospects could just be what these passive candidates need.
Strong employer branding achieves hitting two birds in one stone – attracting the best talents out there and retaining them once in. In essence employer branding has become an effective tool both for recruiting and retaining talents.
Next read: Innovative Ways to Build Employer Brand