Employer of Choice: The benefits of Employer Branding

Employer Branding Benefits

Imagine someone is out there job-hunting. The candidate explores various job portals looking for new opportunities. In the digital age people have multiple options while job surfing. As an employer, how does one stand out in the clutter? Negative employee reviews often derail the social presence of a company. Why would an aspiring individual apply with you among hundreds of options? This is where the hero of our story makes all the difference- Employer Branding.    

What is Employer Branding?   

Employer Branding is how employees, current or prospective, perceive an employer or organization. It includes executive communication, employee value proposition, career growth, learning opportunities and more. The advantages include lower cost per hire, low employee turnover and a higher rate of talent retention.   

The term Employer Branding was coined in the ’90s with many smart companies adopting the talent acquisition strategy. However, many companies are yet to fully utilize the benefits of employer branding.  

The Benefits of Employer Branding   

Your company drives a high percentage of sales every quarter making it financially successful. However, how others perceive your brand as a place to work depends upon your employee’s viewpoint. In the digital age, employee advocacy is crucial for establishing trust in your brand. Satisfied and happy employees are more likely to recommend your company to friends and family. With positive feedback and recommendations, you are saving a ton of time and capital in the recruitment process.  

Top candidates often apply at organizations that foster positive work culture and offers career growth options. Toxic office environment can push even unemployed candidates away from applying. 69% of candidates reject offers from a brand with bad reputation, including freshers [Source]. Around 95% jobseekers online see employer branding as the hallmark of a lucrative company [Source]. A positive employer brand is almost a necessity now, with social media and review platforms enhancing greater transparency. Personal Branding for executives and employee advocacy are some of the areas where brands seek to score a winning touchdown. Employees not only drive your brand but become a part of your brand.    

Employer Branding: Beyond the office structure?   

Often companies forget that although money is important, most candidates are seeking various other things from a job. Attributes such as positive learning experience, greater exposure to work responsibilities, higher scope for career growth and an improved set of skills for the future. A company providing these options usually attract the best candidates, while also optimizing costs. Awards and recognitions are often conferred upon brands that follow the aforementioned ethics, increasing their value even further. Research shows that around 23% of the 23-34 age group would accept a pay cut while joining a good employer brand [Source].  

People want to learn, to grow and become leaders in their own right. With the right strategy, brands travel beyond office structures into the various dimensions of society. An employee’s satisfaction and scope for career growth, in turn, facilitates greater growth for the brand itself.    

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