Discover the strategies and techniques to establish your company as an employer of choice in the competitive job market.
To attract and retain customers, you need to put effort into your brand and experience. The same goes when it comes to attracting and retaining your talent - there’s a huge need to put effort into your employer brand and your employee experience.
In a world where hybrid and remote work have become the norm, and unhappy employees are leaving the jobs at an unprecedented rate - it takes more than ping pong tables and free office lunches to attract and retain top talent.
Read on as we delve into employer brand, why it’s important and what are the top strategies for attracting and retaining talent.
What is employer brand?
Let’s start with the basics, what exactly is an employer brand? Your employer brand is how your company is perceived among current employees, job seekers, and the wider community. It's how you convey what it's truly like to work at your organisation. In order to maintain and develop your employer brand- it’s important to have a strategy and tactical plan in place.
To break it down, there are 3main parts to an employer brand:
- Reputation: What’s the work environment like? Does your company offer ample career progression opportunities? Is it a place where employees thrive and can be their true self?
- Proposition: Your Employee Value Proposition (EVP) is what sets you apart from other companies. How do you communicate your unique benefits?
- Experience: The tangible reality of working at your company. It's the employee experience that current and former employees share, both online and offline. Their satisfaction and enthusiasm become invaluable assets when it comes to attracting top talent.
When developing or improving your employer brand, it's essential to align with your company's vision, values, culture, and most importantly, the people. Employee experience plays a pivotal role, as happy employees become powerful advocates and sources of candidate referrals.
Why do you need a strong employer brand?
Research shows that a whopping 75% of candidates are more likely to apply to a company that actively manages its employer brand (Glassdoor). The benefits of investing in and nurturing your employer brand speak for themselves:
- Stand out from the competition: Increase your visibility in a sea of companies.
- Attract high quality, informed candidates: Bring incandidates who resonate with your values and culture, leading to better hires who are a great fit for your company.
- Cut your recruitment costs: Increase your inbound applications, reducing the time and resources needed to find the right talent.
- Boost employee retention: Happy employees are more likely to stay at your company, reducing turnover costs.
The top 3 things to consider for talent attraction
1. Showcase your employees and teams: Let people see what it's like working for your company by showcasing your talented teams, employees and unique perks.
2. Be authentic and transparent: Transparency builds trust. Share your company's values, mission, and goals openly and honestly.
3. Highlight your career pathways: Potential hires want to know that your company is invested in their growth. Highlight opportunities for advancement and professional development.
The top 3 things to consider for talent retention
1. Employee perks and benefits: A comprehensive benefits package and perks can significantly contribute to employee satisfaction and retention.
2. Take feedback onboard: Encourage open and honest feedback from your employees. Use this feedback to identify areas for improvement and make necessary changes.
3. Career progression: Having constant opportunities to learn and grow are key reasons why people choose to stay in their roles. It’s important to offer opportunities for people to grow their skills or move into management pathways.
If you’re exploring how to push your employer brand further with the next generation, Hatch can help. Find out more about how we’re boosting the employer brand’s of Australia’s leading companies here.
