Employer Branding importance is a relatively new concept, but many companies are undertaking strategies to improve it due to the vast benefits associated with good branding.
Today many companies are implementing an employer branding program. They want to be seen and recognised as an employer of choice. They want to be viewed as a great place for employees and subsequently recruit the best talent in the business.
Developing a strong, inspirational employer brand takes some planning. It also requires funding for marketing and communications. It also requires the support of management and executives to implement it well and to sustain the program of employer branding.
Dependent upon the size of your company and the resources that you can spend on the branding, scalability programmes are possible. The bigger question is; once you have implemented your employer branding plan, how do you know it is working? By what metrics can you measure the benefits of the company branding that you are developing?
There are currently a few methods to measure employer branding success and as the field continues to evolve—as it has done the past few years – doubtless more will appear.
The typical method of determining ROI is to divide your benefits by the costs incurred in the program. The question is what are the advantages of an Employer Branding program.
Some employer branding benefits to which a value could be assigned include:
The quality of candidates that you receive.
While it can be hard to measure a candidate’s quality, you can usually determine if they would be a good fit and if they are top of their field. Helping you ascertain the value of the candidate pool can be evaluated further by surveying hiring managers for feedback or by assessing long-term retention metrics. For example, has your attrition level gone down since you implemented your employer branding strategy?
The Reputation of Your Company.
There are some well-known sites out there such as Glassdoor which document employee feedback ion your brand and can help build your reputation as an employer brand of choice. If you garner a reputation that permits you to achieve the kind of hires and the kind of candidates that you want, this is golden. Based on the core values that you are trying to communicate about your company, if the employer branding program has allowed you to do that and to create a favourable opinion of your business to give you a better standing in the business community, then you can feel confident that your employer branding program is working.
The Cost of Hiring.
Has your average ‘cost-per-hire’ reduced since you implemented your employer branding program? You can determine the cost of posting a job, of having a vacancy and of attracting and hiring a candidate that is qualified and well suited culturally for your company. The value may be the same for each hire, or it may be different dependent upon the job. Once you know that value, how did it change after the implementation of an employer branding program?
Your Number of Vacancies.
If your employer branding is working efficiently, the number of jobs should reduce to levels lower than pre-employer brand investment levels. How many vacancies do you have and are they diminishing? Has attrition improved?
These are just some of the criteria by which you may measure if your employer branding is working and if it is, how efficiently it is performing. According to leading recruitment publication, The Recruiter “talent leaders identify employer branding as the number one area where they wish they could invest more” which goes to show how important employer branding has become regarding attracting top talent.
So, will you get real value from your employer ROI from your employer branding methodology? The odds, I believe, are in your favour. It may take a few months to show you progress, but when you do, you’re going to see some real value from it regarding attracting better talent and then, more importantly, retaining it as you become the go-to ‘Employer of Choice’.
If you have a Payroll, HR or Reward recruitment requirement and want to work with an agency that will help promote your employer brand, provide you with a strategy that will enable you to attract the best talent while simultaneously maximising your return on investment then please contact one of our JGA Talent Consultants today. Email: email@example.com / Tel: 01727 800377
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This article was written by Nick Day, Managing Director of JGA Recruitment – the leading Payroll, HR & Reward Recruitment Specialists.
If you are looking for expert talent in the fields of Payroll, HR or Reward, then please reach out for a 15 minute ignition call and I would be delighted to discuss how we can help.
Nick Day, Managing Director
James Gray Associates Ltd – Payroll, HR, Marketing & Reward Specialist Recruiters
Tel: 01727 800 377
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