Source | www-thehrdigest-com.cdn.ampproject.org | Anna Verasai
Employer branding is an essential strategy for any organization—be it market perception or attracting the right talents to the organization.
What is employer branding?
It is managing your reputation as an employer among job seekers, employees and key stakeholders. It includes everything your organization does or stands for to become an employer of choice.
According to LinkedIn data, a strong employer brand can reduce turnover by 28 percent and cost-to-hire by a staggering 50 percent.
Your employer brand can be the deciding factor in whether top talent chooses you over your competitors. Steve Forbes has said that it’s “the single most important investment you can make in your business.”
So how does employer branding work in your favor—
- Allows you to differentiate your organization from competitors.
- Attracts informed candidates to your job openings .
- Moves candidates down the funnel more efficiently.
- Signals to prospective candidates that your company is a great place to work .
- Improves retention of existing employees .
- Makes your organization more credible in the marketplace .
Every touchpoint mentioned above is about what impression candidates and the business world carries about you. Without proper management, each one of those touchpoints can become a deal-breaker, costing you candidates and employees.