Talent attraction is a little like fishing with a net.
You pick your spot, cast your net, and hope that the fish that you’re looking for swim in. You’re probably going to catch a bunch of different fish, many of whom you probably don’t need, but at the end of the day you should find what you’re looking for too.
Employer Branding is a tool to help you cast a wider and more effective net and help you stand out to the right kind of fish. (Sorry for hammering the metaphor here).
Employer Branding is now a priority
Branding is no longer just a marketing or communications initiative. Research from Bersin indicates that over 40% of companies indicated that employer branding is a “must have” in their talent acquisition strategies.
We found similar enthusiasm for branding when we launched our State of Talent Acquisition Report for 2017 - alongside Recruitment Marketing, Employer Branding ranks as the top priority for talent leaders this year.
Why your Employer Brand matters to candidates
It's often said that recruiters are in the rejection business. Well, today they're in the marketing business too!
The way that a company communicates and markets it's employer brand to candidates is hugely important, and recruiters are the frontline ambassadors of your brand.
Your brand is not only the first thing that candidates think about, 75% of job seekers consider your brand before even applying for a job, but it's also the most important factor in their decision making process, with 56% of job seekers ranked talent brand as the deciding factor when choosing an employer.
Branding success also translates to outreach - companies with a strong talent brand get a 31% higher InMail acceptance rate.
We spend the majority of our lives at work - people need to be reassured that your company aligns with their personality and career goals. They want to make sure that you're the right investment.
The role of the recruiter in Employer Branding
If you think about it, the only impression that most candidates have of your company is provided by:
- What they read online (Glassdoor, Careers Site etc)
- What they hear from friends and connections
- How they’re treated by your recruiting team (if they apply or enquire)
The way your recruiting team treat candidates is therefore a huge part of your brand.
Recruiters are the bleeding edge of your brand. They're the people that interact the most with candidates, they're the people that provide the bulk of a candidate's application experience.
As a result, many recruiting roles and responsibilities are changing - things like branding and marketing are becoming more important skillsets and the recruiting team of the future may look very different.
Creating a brand following
"Your vibe attracts your tribe" - Kathryn Minshew, Founder and CEO at the Muse
The companies that have the strongest Employer Brands are the ones that create a following. (Think of the passion of Apple or Nike fans in the consumer space).
[tweetery]Great candidates follow brands. It should be every company’s goal to build a following.[tweetery-end]
They look to create multiple connections with the same candidate, turning a single interaction into a long lasting relationship. They turn top talent into brand supporters who will refer friends and apply themselves.
None of this happens overnight, but it should be the ultimate goal of all branding efforts.
Important: The cold, hard benefits of a great brand
Brand has a huge effect on your effectiveness as a recruiting organization. For the data-hungry among you, these some of these stats should jump off the page:
- A strong employer brand can lead to a 50% decrease in cost/hire.
- A strong employer brand can lead to a 28% increase in retention.
- Strong employer brand discourages early departures: New hires are 40% less likely to leave after the first 6 months.
- Companies are overpaying on salaries by 10% if they don’t have a strong brand.
- Employer branding can increase your stock prices by 36%. (Lippincott via LinkedIn)
In short, having a great Employer Brand pays off!