Employee turnover can be reduced by up to 28% just by investing in employer branding
Employee turnover can be reduced by up to 28% just by investing in employer branding. In fact, organizations that do invest in their brand are three times as likely to make a quality, long-term hire.
So, in the face of such damning evidence, why is it that businesses continually bluff their branding?
“Employer branding is similar to building a general brand, looking at your culture and your mission, whilst also taking into consideration your audience – namely passive and potential candidates,” explained Dee Murphy, head of employer branding at Jobbio.
“However, as opposed to glossy marketing content used to attract a consumer, a strong employer brand comprises of an authentic look into what it’s really like to work in your company. I think the main mistake companies make when building an employer brand is not going down an authentic route.
“They won’t ask the important questions; for instance, candidates want to know what it’s like in the office on a day-to-day basis, or how management handle a crisis situation. Purely focusing on perks and benefits or ping pong tables or bean bag chairs will not draw in the top talent. Leaders need to make sure they tell an honest story of what its like to be employed in your organization – warts and all. Don’t sell candidates a dummy and have them quit months later.”
After all, no one appreciates being lied to. As Murphy explained to us, in the age of technology you can’t parade false promises through the recruitment stage only to reveal a whole other reality when the candidate accepts the offer. Those skeletons in your closet will not stay undiscovered for long.
“Hiring today is not a one-sided coin – it’s ultra-competitive for both the talent and the companies looking to find the right candidates,” added Murphy. “These days, there’s no escaping people’s perception of you because of all the new technologies in the market. The first thing candidates do when applying for a job is research the company.
“And now, because of LinkedIn and Glassdoor, people can find out instantly from reviews and employee feedback exactly what it’s like to work for you. Candidates will sniff out every bit of collateral from how well your organization is doing in the market, to how your competitors compare, to how inclusive your staff base actually is. It’s vital that you’re competing the public inline area against your competitors. If you’re telling one story that nots authentic, and a candidate finds out contradictory information, not only will they not want to join you, but you’ll have damaged your brand even further by lying.”
In that vein, we asked Murphy whether she believed salary or perks where more important.
“I’d be lying if I said salary didn’t matter,” she told us. “You can’t negate fair pay by having a fun workplace. Anyone who’s worked for at least three years knows that hygiene factors such as extra holiday days and free dental won’t actually put any food on the table or pay your bills. They are important, but what candidates are satisfied with these perks then they’re done. The smart candidates, the true problem solvers, they need to be challenged, they need to come in to an environment where their skills set is super valuable, where they’ll have access to senior management and be able to really help move the organization to the next level.”
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