Every company of every size has its own reputation, its own Employer Brand. Whether consciously or not. When it comes to recruiting employees, retaining the employees you have or competing with other companies for the best talent, it’s your employer branding that comes into play.
The Great Resignation
Economically, we find ourselves in the prefect storm when it comes to recruitment challenges. The aftermath of a global pandemic combined with Brexit and the current economic downturn has put extraordinary pressure on businesses when it comes to recruitment. Termed The Great Resignation, we’ve seen many individuals evaluating their work life balance and moving on from jobs, as well as workers returning to other countries after Brexit. As a whole, employers are struggling to find and keep the talent they need to continue to build their companies.
What makes up an Employer Brand?
Employer Branding refers to all pieces of communication between potential and current employees and the company itself. Whether from an initial job posting to content on social media, interview process to company culture, every intersection between company and employee is relevant.
Employee expectations have altered radically over the past decade, both as a result of technological progress and in relation to social investment. Job seekers are now looking for more than a simple job posting they can apply to and wait to hear back. There is a holistic approach to job seeking that companies need to be aware of. No longer is a salary enough to recruit the best talent on the market. Job seekers have an expanded list of requirements, from benefits and job flexibility to diversity and community contributions, and the perceived culture of any company has now jumped to front and centre in the job hunt.
Take some time to look into your overall reputation. What career progression does your company offer? Do you encourage CPD (Continued Professional Development), and are there opportunities to grow within the role? What is your benefits package and how do you communicate with your team on a daily, weekly, monthly basis? Is the social value of your company clear, the purpose that you work towards and the impact you hope to make within your community? Setting in place a strategy to verbalise and make real these components of your company culture is crucial to how you are perceived with the job market. The more time invested in developing and growing this Employer Brand, the more competitive you will be in recruiting, retaining and engaging the staff you need to ensure your company prospers.
Why else Employer Branding Matters?
Over time, companies that invest in developing a strong Employer Brand will notice a drop in their cost per hire. A strong and positive corporate reputation will increasingly bring talent to you before you have to go and seek them out.
Leading on from that, the stronger and more positive Employer Brands find that reputation, company culture and strong corporate values will attract talent in a way that salary alone cannot. Some job seekers are even willing to work for lower salaries if the company environment is strong enough.
Investing in your company brand has horizontal benefits outside of purely recruitment. Consumers prefer to buy into companies whose culture is known to be positive. Whether through the investment a company makes in the community, or the social conscience they have, consumers are known to place a higher value on and prefer products or services from those companies. The same is true of business to business interactions and community loyalty. Developing these strong roots in consistent and positive ways reaps reward from all sides.
Undoubtedly no matter the size of your business, you have a reputation that exists and is taking shape around you. When it comes to recruitment, retention and growing relationships with consumers and communities, deciding to take control of that reputation is central to any business strategy and success.
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