There are many benefits to having a strong employer brand. It can decrease the cost per hire by 43%, and even decrease the likelihood that new hires will leave their new company within the first six months by 40%.
75% of job seekers say that an employer’s brand is a deciding factor when applying for a job. That’s 3 out of 4 qualified candidates that you could be missing out on because of a poor employer brand.
You could even be affecting your stock prices by up to 36%.
We looked at the impact of a negative employer brand in a recent post, but if you’re just starting out – or are changing direction – how do you build a strong employer brand?
Create a positive candidate experience
Creating a positive experience for candidates, whether they’re successful or not, improves your brand image and makes people more likely to reapply for future roles.
Creating a negative experience for candidates makes your company seem less welcoming to work for and could put off prospective candidates.
The easier and more open you make the application process, the happier candidates are likely to be. They may even advocate for you even if they’re unsuccessful!
If you create a negative experience, you may lose customers, as Virgin Media did in 2014. Thanks to a poor hiring process, they lost 7,500 customers.
More and more candidates and employees are leaving reviews on sites such as Glassdoor. Like it or not, these reviews have a significant impact on your employer brand.
As many as 52% of job applicants research a company on Glassdoor before applying for a role. If they don’t like what they see, that’s 52% of potential candidates you could miss out on.
Give your employees more reasons to stay
Richard Branson once said, “Train people well enough so they can leave, treat them well enough so they don’t want to.” He went on to say: “If you look after your staff, they’ll look after your customers.”
When employees feel welcome and appreciated, they’re more productive and more likely to stick around.
One of the best ways to foster employee loyalty is to keep employees engaged. Allowing them control over their schedules, automating dull tasks and offering staff training are just some of the ways this can be done.
Offering employees perks such as flexitime, being able to work from home, or even discounted gym memberships all help to make employees feel valued. They will, in turn, be more likely to promote the company’s culture to their social circles.
This organic promotion of the company can yield great dividends. Discovering how well a company looks after their employees may make friends and family members more likely to consume their products but also more interested in working there.
According to StackOverflow 2017 Developer Survey, 27.8% of employed software developers found their current position through a friend, family member or former colleague. Given how expensive and time-consuming it can be to find developers this is a key growth factor.
Be engaged and engaging on social media
Social media is a ubiquitous part of twenty first century life whether we like it or not.
I don’t know about you, but the first time I hear about a company, I search for them on Facebook and Twitter, before even visiting their website. And that’s just to find information about their services not because I want to work there.
According to CareerArc, job applicants use the same tools when researching a prospective employer – 62% of candidates research a company on social media ‘to evaluate an employer’s brand‘.
Not having a social media presence takes away an opportunity to display your business’ culture and identity. For example, you could use your company Twitter account to share your teams’ accomplishments and deal with customer queries.
Being active on social media helps promote a positive company image to both consumers and potential hires. Be friendly, inclusive and helpful – somewhere a twenty-first century candidate will want to work at.
Building up your employer brand with Calendar Sync
Creating an engaged and informed candidate experience benefits your company in both the long and short term. It helps to attract and keep the best talent, as well as improving the likelihood that unsuccessful candidates will reapply in the future.
When employees are engaged, they feel valued and are more likely to speak positively about your brand. Whether positive comments are shared online or offline, they help to improve your employer brand and in turn attract the best talent that will help your company grow.
Source: How to build a strong employer brand | The Cronofy Blog