Authentic employer branding is becoming crucial in today’s society. It’s no longer enough to just be offering a job and a paycheck to employees. They expect and deserve so much more.
The link between engaged employees and the success of a business is well documented. So employers are now in a race to build their company cultures and employer brands to attract and retain the best talent in the industry.
What is employer branding?
When you think of work branding, you might think of the way companies brand their products or services. Employer branding is similar, but instead of marketing your products to consumers, you’re marketing your company to potential employees. Companies like GPI, Google, and SAP all define their cultures, and employee benefits very well.
The competition for top employees is fierce, so companies need to advertise themselves and their own unique work cultures.
Though a lot of the same principles are used, employer branding is not simply a marketing exercise. You need to be authentic and really drive organizational culture. Otherwise, you’ll soon be found out and you’ll have trouble retaining talent, leading to other potential problems.
The main aim is to create a happy group of existing employees, proud to work at your company, while also appearing attractive to talent out there.
What is included in your employer brand?
There are many facets to your employer brand. From less tangible things such as company culture and ethos down to the more practical issues around perks and financial incentives. What can you offer someone as an employer in exchange for their skills and loyalty?
These can include:
- Company ethos and values
- Salary and bonus structure
- Professional development opportunities
- Remote working opportunities and work-life balance initiatives
- Medical benefits
Why does your company need it?
The concept of employer branding has been debated at length by some with a more traditional view. But it is clear that people entering the workforce today will look to those employers that will value them and that they can connect with.
Engaged employees benefit companies by being more productive and increasing turnover. A lower level of employee turnover saves recruitment costs and provides a solid base to build a company culture.
Competition for the best talent also demands a strong employer brand. It’s not enough to throw big salaries around, studies have shown that 91% of millennials cite career progression, not salary, as the most important thing they look for in a job. Of course, attracting high-quality employees is one thing, retaining them is another. If you have been less than authentic with your employer branding, you might get good employees through the door, but you won’t keep them.
Who’s job is it to create the brand?
Where once, the HR department was solely responsible, it is now a collaborative effort that starts at the top. Every level from CEO to marketing to HR needs to be involved in crafting a cohesive brand story. Other stakeholders including employees, contractors, and suppliers should also have a say.