When the best talent wants to work for your rganization, your recruitment costs plummet
Simon Barrow and Tim Ambler first described Employer Branding in 1996 in the Journal of Brand Management as, “The package of functional, economical and psychological benefits provided by employment, and identified by the employing company”. We can interpret it as simply the ‘identity’ of an employer - what makes it stand out amidst competitors. A strong employer brand attracts top talent, reduces recruitment costs, improves employee engagement, and offers an undeniable competitive advantage to a company.
Changing Dynamics of the Talent Market
Job seekers today judge employers with the same scrutiny as customers evaluate brands. They look for careers, not just jobs. This means employers that market their jobs as valuable, rewarding, and flexible come out on top.
According to a 2018 survey by Randstad US, 86% of job seekers said they wouldn’t apply or work for a company with a bad employer reputation. 65% said they would leave an employer being negatively portrayed in the public or social media.
Employers ought to focus not just on external, but also internal employer branding i.e., offering a solid employee value proposition (EVP). The EVP refers to the experience of employees at an organization, which includes rewards and growth prospects offered to attract and retain them. In essence, the employee value proposition gives employees a compelling reason to work with an organization. Top brands place an equal emphasis on presenting an attractive face to the world and their internal employer branding to recruit and retain top talent. If you’re struggling with these areas, engage expert recruitment agencies like Randstad to boost your employer branding and to communicate a strong employee value proposition to potential and current employees.
Top Brands Spend Big on Internal Employer Branding