As per a survey done by MaraJobs, even passive candidates can get wooed by a strong employer brand. The survey found that 84% of participants, in case of another employer with an excellent reputation offering them a job, would consider leaving their current company.
Furthermore, 69% of those surveyed even in case of being unemployed, would decline a job offer from an employer with a bad reputation.
It is important for employers to notice that about 3 out of 4 full-time workers are open to a job change or are looking for one. Interestingly when searching for a new role, an average job seeker uses 18 different sources.
It’s an unavoidable fact that a compelling employer’s brand is required for standing out and drawing in relevant and engaged candidates. A reputed brand name also helps in retention of the current employees.
The brand of an employer is the reflection about how the market perceives the employer. An employer’s brand name gets shaped by the manner in which their business operates, including its treatment of their staff. An effective employer brand identifies its business as a place where people love to work. They ensure that current employees stay, and there is also a steady influx of new applicants.
An employer’s brand influences each aspect of the business, right from the manner in which it speaks online, to the content in its job offers, including the things that employees say as well as the types of perks and incentives being offered.
Why Employer Branding Matters
As per Career Builder, more than 50% of employers struggle to find qualified candidates who have the right skills to do the required job. Furthermore, majority of employers are of the view that to make a bad hire is far more costly than to leave an open position.
If you develop a magnetic employer brand, your business can easily promote the aspiration points of its culture, along with the things that make you stand out from other employers within the similar field. This can put your business in the enviable position where you will have a wide pool of relevant candidates for picking from. A good employer brand can make your business even more competitive as it ensures a distinct position from your competition due to its values.
A strong employer brand enhances the amount of applications received when you put up a job vacancy. It may also lead to better staff engagement, as they are aware what your company stands for, and they know about the collective goals you all are working towards.
To develop employer branding is a long term investment ensuring that your company stays competitive into the future, attracts talented employees, and also retains them.