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Over the years, there’s been a shift in how job seekers approach hiring. Historically, candidates wanted to impress potential employers. Today, candidates want to be impressed by potential employers. Job seekers look for companies who will offer a great employee experience in exchange for their knowledge and skills. They research companies via websites, social media, and employee review sites before submitting resumes. Unfortunately, this can greatly decrease the number of sought-after job candidates at your fingertips. So how do you find the talent and skills you’re looking for in a world where quality-job applicants can seem almost non-existent?
You need truly stellar employer branding.
Employer branding is the reputation your company has gained for its work environment. This includes everything from benefits to advancement opportunities and company culture. Your employer brand is how you market your company to both candidates and employees. Make sure you get this right.
Creating an esteemed employer brand—where people want to work for you—is becoming increasingly critical to attracting and retaining valuable employees. In fact 86% of employees say they would not work for a company that was perceived negatively by the community or by prior employees.
Employer branding is your opportunity to create an environment that is mission-centric and trustworthy. A recent LinkedIn study shows that companies that invest in their employer brand see 50% more qualified job candidates and a 28% reduction in employee turnover.
Clearly, a winning employer brand benefits your employees. But it can also benefit you as the employer. Here are three advantages you will experience when you focus on an employer-brand strategy
When you establish a reputable employer brand, you’ll automatically set yourself apart from other companies who are seeking the same talent.
Job applicants weed through lists of open roles, looking for companies that value their employees. In fact, 94% of candidates said they are more likely to apply for a job where the employer brand is actively managed.
For example: Google has taken every opportunity to rise above the competition to create a place where employees want to work. Just take a look at their campus and you’ll understand why they’re such a hot commodity.
Laszlo Bock, former SVP People Operations of Google said: “What’s special about our company: We give our people tremendous freedom. And we underpin our people practices with real science and data. We use science to figure out what makes teams work.”
When you invest in employer brand, you automatically set your company apart from the competition.
Consumer brands sell products. Employer brands attract employees. But the two are more intertwined than you might think. The impact of your employer brand, good or bad, can directly affect your consumer brand. It’s no surprise that happy employees create happy customers.
In a world of instant communication, a disgruntled employee can easily take their experience to the internet and shed a negative light on your company. This affects how job seekers and consumers perceive your brand.
But the opposite can also be true. A company that provides positive employee experiences gets noticed by consumers. And most consumers will pay more if a company is transparent, stands for something, and treats its people well.
When an employer’s brand is subpar at best, recruiters frequently have to offer more for compensation—sometimes 10% more per employee!
But companies that have a solid employer brand can receive twice as many applications, strengthening the pool of talent to choose from. Not only do recruiters’ efforts become easier, but it also costs much less to land high-value employees.
Job seekers look for authentic companies that stand for something. They’ll give their time and effort to an establishment that they like, trust, and respect. When you communicate your company values, you’ll attract people who align with—and champion—your mission and beliefs.
These are the people you want and need.
Your employees are investing in your company—take the time to invest in them as well. When you create a place that values candidates, landing top talent that loves working for you will feel effortless.
At GoodTime, we take employer brand seriously. Our hiring experience solution puts the job candidate first, and provides a smooth, branded interview process that fits into their schedule, no matter how many interviewers or times zones required. Here’s how to learn more.