By the time the U.S. emerged from the Great Recession, shifting demographics had forever altered the hiring landscape and employer branding emerged as a vital foundation for recruiting. Today’s talent acquisition is just as closely related to marketing and public relations as it is to human resources. With good reason, employer branding is the hottest topic in talent acquisition. Here’s why a solid, strong employer brand is crucial for a company to have.
Cultivating A Strong Employer Brand
An employer brand is what people think of a company, its reputation as an employer – how they treat their employees and what it’s like to work there. Therefore, every company has an employer brand, whether it’s carefully nurtured or develops on its own, and whether it’s well-known or not.
If you’re adding staff, or just trying to keep the ones you have, your employer brand can set you apart – or not. What makes your company unique and your culture desirable? Having an unknown or lackluster image as an employer is almost as bad as having a poor reputation. One way to strengthen your employer brand, adding credibility and visibility? Gain recognition as a best place to work.
When an organization builds a strong employer brand, the company becomes a talent magnet. Best workplace awards automatically create those magnets. And as unemployment continues to drop, standing out among the crowd is more important than ever. Even people who thought they were happy in their jobs can be enticed by recruiters’ attractive pitches. Having a strong employer brand opens the doors to those conversations.
Here are a few tangible benefits of a strong employer brand:
- 94% of applicants more likely to apply for a job if the company has a strong employer brand
- 69% of candidates would not take a job with a company that had a bad reputation, even if unemployed
- 65% lower turnover = increased employee retention
- 54% increase in the quality of the talent pool
- 50% reduction in overall recruitment costs
- Candidates under 40 are 61% more likely to make career decisions based on employer brand
Do you need to strengthen your employer brand? For Arizona employers, start by applying for the 2018 azcentral Top Companies to Work for In Arizona program. Gaining a workplace award will automatically raise your company’s reputation and visibility!
About the author:
Denise Gredler, Founder and CEO of BestCompaniesAZ has been helping identify, develop and promote employer brands in Arizona for 15 years. Contact BestCompaniesAZ to stand out from the crowd and start attracting and retaining the talent your company needs.