How Your Employer Brand Helps in Recruiting & Retaining Talent
We live in uncertain times. The task of recruiting and retaining top talent has become a more complex and multifaceted process than ever before, with more than just pay playing a vital role in hiring the right person. The Great Resignation has seen employees leave their jobs by the thousands over the past year, and according to Forbes, it has company leaders across the world rethinking their entire approach to talent acquisition and retention. Everything from culture to structure and work location–or lack thereof–are on the table in C-level conversations. Per Harvard Business Review, people are quitting because they feel a general disconnect between the work environment that they expect and the one they are currently experiencing.
Should Organisations Invest in Employer Branding?
A talent-centric market means companies need to make their offers more attractive to capture the interest and resume of their dream employees. One easy way to do that is to incorporate messaging surrounding your company’s culture into your employer or recruitment branding. According to a study conducted by the Hinge Research Institute, 57 percent of job seekers across different career levels and industries consider culture just as influential as salary when searching for a new role. For employers, that means putting culture front and centre in everything from their messaging and branding to their Employee Value Proposition.
Having a strong, authentic, and culture-forward employer brand will give your organisation several advantages, especially when it comes to attracting and retaining top talent.
- According to LinkedIn, positive employer branding leads to 50% more applicants, 50% reduced cost per hire, and hiring times that are up to twice as fast.
- The same report by LinkedIn shows that having a great employer brand helps companies reduce turnover rates by up to 28%. These numbers show employees’ eagerness to work for a business with a strong culture, a well-defined purpose, and a positive reputation, even when they can work for competitors who may offer more in terms of total compensatory rewards.
Additionally, according to data by HubSpot, 50% of job seekers say they wouldn’t work for a company they believe has a poor reputation or has had a recent scandal, even if the new position offered a pay increase or a larger bonus structure. By building a culture that supports growth and performance, and ensuring that culture is front and centre in your recruitment messaging, candidates will have a strong understanding of how they might fit into–and help elevate or advance–the purpose and work of the organisation.
Employer Branding in Talent Management
In the current workplace climate, employer branding plays a more significant role in both talent acquisition and retention than ever. Organisations looking to hire new talent and keep them in the company for the long term need to invest in their employer brand to make sure that they attract only top talent, engage their workforce, and reduce turnover rates.
Waterstone Human Capital is an industry leader in helping organisations cultivate successful cultures through proven, people-focused management services. We help organisations build their ideal culture and attract top talent. For more information about employer branding or any other topic related to transformational recruiting, contact us or fill out the form on our Contact page to learn more.