Taking your employer brand to the next level is not an easy task. To maintain a reputable brand and attract top candidates, you should develop an employer branding strategy that helps your company stand out from other great places to work.
Why is an Employer Branding Strategy Important?
Having a strategy matters because employer branding is a complicated, multi-faceted concept. Therefore managing and maintaining your brand needs to be meticulously planned to maximize both recruitment and retention.
A poorly managed employer brand can have significant impact your company’s health. Harvard Business Review found that a bad reputation results in the need to pay at least 10% more per hire, and fewer people overall will want to join the company. Your brand may be fine but it’s worth taking the steps to make sure everything is fine in the eyes of your current and potential employees.
Employer Branding Strategy Best Practices
There are many parts that go into creating an effective employer branding strategy. We’ve found that there are three best practices that go a long way to doing it right. While they may not cover everything you’ll need to do, these will get you started on taking the steps necessary to create a better employer brand:
Conduct an Employer Brand Audit
An employer brand audit is an analysis that uncovers how your company is perceived in the eyes of your employees and job seekers. The purpose is to identify areas of opportunity to improve the satisfaction of current employees and your image as a good place to work. The process can be as simple as performing an employee feedback survey that asks people to describe their experience of working at your company. It’s important to keep answers confidential to get honest answers and avoid concerns about retribution for criticizing the company.
Another method is to review feedback on your company’s external review sites like Glassdoor or Indeed. These reviews are full of insights that uncover aspects of your company employees deem valuable to tell others about. Since external review sites keep reviews anonymous, employees are more inclined to share concerns.
Establish your Employee Value Proposition
Your employee value proposition (EVP) is the benefits you offer to employees in return for their work. This extends beyond a paycheck and benefits like flexible hours and free food. In this case, benefits mean any good aspect of the company. This differs for all companies, but some examples include a friendly office culture or the feeling that your work important to society.
The purpose is to find a unique set of reasons that someone should work for your company over competitors. This is the core of your brand and will shape how you describe yourself to both your current and potential employees.
Pick the Right Channels to Tell Your Stories
There are many different channels for building and displaying your brand image. They include but aren’t limited to your website, social media, and external ratings and review sites. While the execution of each is different, the best way to sell your brand is through storytelling.
An effective way to tell your company’s stories is to have employees to tell theirs themselves. Encouraging employees to share their experiences and why they like working at your company establishes a form of social proof with job seekers. Social proof is the idea that people are generally influenced by the actions of others. This why candidates seek out reviews left on external review sites; they trust what others are saying more than what the company says about itself.
Employer Branding Impacts Beyond Recruitment
While an employer branding strategy will improve your recruitment efforts, it will also help retain your employees for the long run. Performing an employer brand audit uncovers how your employees feel about the company and highlights potential reasons for them to leave. Establishing a more attractive EVP will likely lead to resolving some employee concerns, therefore showing that you care about their quality of life at work.
Some employees leave because they feel they’re not a fit for the company culture. Having employees heavily involved in the recruitment process by allowing them to tell their stories creates a more accurate image of your company culture from the start. While this does not necessarily fix the problem for current employees, it makes it more likely that new employees will stay longer.
One way of keeping track of your company culture is to read and analyze your employee reviews on external review sites – but that can be difficult if you have many reviews across multiple locations. See how Barometer can help solve that issue by analyzing your reviews here!