A reputable employer brand is a must for an organization’s strategy because it helps companies recruit better candidates, reduce hiring and marketing costs, and improve productivity. Therefore, for organizations that are still in doubt about investing in employer branding, here’s why it’s so important.
- Help retain employees and recruit new ones
A strong employer brand will make employees proud to be part of the organization. The company culture matters to most employees and is keen to voice their opinion on social media channels. The positive outlook with employer branding helps the company to attract fresh talent to apply for a job in the organization. With a good branding strategy, present employees will convey the expectations of the employer to new joinees and help them fit into the company culture.
- Reduces costs leading to better financial stability
If you have an established brand then the recruiting costs are minimal. Potential candidates will apply to the careers section and vacant positions naturally. One can spend on product development to get ahead of competitors. In addition, your recruiting efforts would not have to be huge since candidates find your company themselves. Candidates are keen to accept lower pay, since many values the positive reviews and working with a known brand in the market.
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Having a good employer brand also ensures strong financial stability. Studies point out that good employer branding strategy from agencies such as Brandmatters impacted the company’s revenue growth with a sizeable profit margin increase.
- Reputation carries weight
Disregarding reputation could literally cost the company. Companies with low employer branding have to offer nearly $4,000 extra in salary for every hired employee. Without proper employer branding strategy, one can expect a huge number in additional wages. Salary is important to candidates, but most are expected to choose lower pay if the company is stable and includes positive reviews online. Ignore enhancing employer brand at your own peril.
- Engaged Employees
Companies with an ideal and strong employer brand are guaranteed to have engaged employees. Employees will be more motivated to work with a company with a strong employer image. Therefore, the brand will improve the perception of the company in the public eye, and also in the individual’s standing too.
Having enthusiastic employees also contributes to growth in the company. Existing employees also talk passionately about work, and will be keen to rise the ranks putting in more effort. Employees will be able to work tirelessly in the line of business and even plan future career prospects in a company with an ideal organisational culture. The positive reviews and reactions from existing employees will also pique the interest of the public in the company itself.
- Strong Social Media Presence
Companies are moving towards social media channels to boost employer brand effectively. With a strong online presence, it shows that your company is interested in its audience and constantly trying to improve itself. If people follow the social media feeds from Instagram to Twitter, it is essential to have the brand showcase to the public based on its integral values and culture.
By positioning the company in the right space, it can attract the right talent without much effort. Platforms such as Facebook and LinkedIn are already helping companies to leverage their brand to attract potential employees efficiently. Job applicants now contact companies online through different platforms and already establish their interest with the employers online. Strong employer branding helps a company to regard itself as an ideal place to work in and helps it to stand out from the competition especially companies, not on social media.