In today’s fiercely competitive job market, attracting and retaining top talent has become a strategic imperative for organizations worldwide. Gone are the days when job seekers solely evaluated potential employers based on salary and job responsibilities. In the contemporary landscape, the perception of an organization as an employer, known as its “employer brand,” plays a pivotal role in attracting, engaging, and retaining the best talent.
Organisations are leveling up their games in the competitive landscape to fuel talent acquisition. As per LinkedIn, 59% of recruiting leaders worldwide are investing more in employer brand. The reason is the realisation of the fact that a strong brand impacts whether qualified candidates will accept your job offer or join a competitor’s team. If companies cannot stand out as great employers, it will become impossible for them to achieve business objectives.
It all starts internally. If employees enjoy where they work, they will likely send a positive message to the world. This article will delve into the intricate relationship between employer branding and recruitment, shedding light on how a strong employer brand can give you a competitive edge in the war for top talent.
Employer Branding: How Does It Impact Your Hiring Potential?
Employer branding is critical to your bottom line and impacts an organisation’s ability to hire top talent. Creating a memorable and strong employer brand keeps candidates informed and excited about what your organisation stands for. By understanding the importance of building an employer brand, leaders can pave the way for better talent management by drawing the attention of competent candidates. Read on if you wish to continue learning about the role of employer branding in hiring talent.
- Improves the quality and quantity of job applications
A strong employer brand draws job applicants toward it and gives them sufficient reasons to apply for jobs. As a positive outcome, it simplifies your hiring process and reduces the amount of effort you would otherwise put in. And the benefits do not end here and extend to bringing quality applications that come from engaged and suitable professionals.
- Boosts key recruiting metrics
A strong employer brand can contribute to improving key recruitment metrics. Understand it this way: When candidates feel confident about joining an organisation due to its strong brand presence as an employer, the offer acceptance rate goes up. Moreover, the time to close positions also reduces to a great extent. The bonus point here is the turnover rate reduction because employees stay satisfied and get what they see before joining.
MUST READ: Using Employee Engagement Surveys to Drive Recruiting
- Provides control over the narrative
Organisations can tell their story the way they want to. For instance, if a company doesn’t promote itself as a brand or tell its story, other parties sometimes do it. And the worst that can happen is the floatation of negative reviews, which can be spread by current employees. Fortunately, employer branding allows companies to exercise control over narrative and save employer reputation.
- Enhances interaction with candidates
A solid employer brand engages job seekers strategically, which leads them to apply to the organisation. On top of it, the candidates know beforehand what the company is about and its mission & vision. As a result, they connect to the brand strongly, boosting the quality of interaction with the employers. If the candidate does not get hired for some reason, there is a high probability that the candidate will improve and apply again. This is due to the brand’s reputation in the market.
- Maintains credibility among customers
With companies trying every possible way to stay in the competition, they often forget the importance of employer branding. Simply put, it predominantly affects customer perception of you. What you are determines customers’ decision to buy your goods or seek your services or not. In addition, customers don’t support organisations that mistreat their employees. And with a decreasing number of customers, you will start losing business and, thus, employees.
Concluding Comments
With the ongoing war for talent, companies that work on employer branding will be in a better position to get the best out of recruitment efforts. Bringing a reduction in cost-per-hire, employer branding also betters candidate experiences, simplifies the application processes, and fosters a community of competent candidates.
Remember, it is a long but fruitful process that will help you attract and hire top talent for a long. Once put in place diligently, there will be no looking back for you.
Edward E. Lawler rightly quotes: “Every organization is known for certain things when it comes to how it treats its employees. This “employer brand” is a key part of what attracts talent to a company.”
Are you looking for a recruitment partner? Then, explore our services and choose Cornerstone Global Partner (CGP) Singapore to fulfill your hiring needs.
