Being a reputable company is not only about having the most creative products or services. Sometimes, it’s about employer branding.
Employer branding represents an organization’s corporate qualities to its employees or shareholders, just like how a product brand expresses its benefits to the consumer. It is addressed to former, current, and future employees as well.
Employer branding can be seen in a company’s culture and personality. A company’s personality is how the company is perceived by people and prospective talent in general. A company’s culture, on the other hand, is the working environment, the common behavior among workers, and its policies and procedures.
A 2021 Glassdoor survey stated that 50% of candidates said that they wouldn’t work for a company with a tarnished reputation, even for a pay increase. It shows that employer branding is crucial to a company’s future. This article will explain more about the importance of shaping good employer branding for your company.
In the era where people turn to the internet to search for product reviews, it also applies to job seeking. With social media, it’s easy to find out about how a company treats its employees. Clearly, job seekers prefer a company that values and appreciates their employees. A study from Hireology showed that 84% of job seekers are even willing to forego higher pay if a company can offer non-monetary benefits like great culture, growth opportunities, flexibility, and so on.
Everyone Social stated that employees’ voices are 3 times more credible than the CEO’s when talking about the working environment in a company. In this respect, it is only natural that excellent employer branding will increase employee engagement. Ideally, employers should take care of their employees. For example, investing in employee career paths, providing support, and offering compensation.
When an employee is satisfied with their company, they are more likely to stay there longer. In fact, according to the MIT Sloan Management Review, toxic corporate culture is 10.4 times more likely to contribute to employee resignation than poor management in handling COVID-19.
So when you can build a comfortable corporate culture and make your employees feel welcome, you can use it as a strong point for employer branding. This will help you attract the highest-quality talent, while also keeping the retention rate high.
Employer branding can positively impact a company’s revenue. While it seems both points are hardly related, Link Humans stated that research had linked happy employees to happy customers. It lies in the way engaged employees provide qualified service, which creates a remarkable customer experience. InCorp cites Boston Consulting Group research that shows building a positive employer brand can boost financial stability for organizations. It can help increase revenue by 3.5% and a profit margin by 2.5%.
The benefits of having a successful employer brand are numerous. Using well-planned branding and execution, the organization can attract talent that is ideal for the business and worthy of golden handcuffs. As for current employees, what could be better than knowing that your organization is one of the most conducive places to be professionally productive?
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