4 Reasons Employer Branding Is Important to Retaining Employees

Companies these days need to think of innovative ways to maintain a strong talent pool. One way to retain good employees and attract quality talents is to have strong employer branding. 

In Marketing-speak, branding is about communicating what makes a product or a service unique. You can apply this definition to companies, specifically for a process known as employer branding.

Simply put, employer branding is about a company having a good reputation. When this is present, two things eventually take place. 

First, the company will retain their quality employees since the latter has more motivation to stay. There will be negligible resignations, which will result in low talent turnover rates. Second, the company will attract numerous candidates since jobseekers are naturally drawn to companies known for being good employers.

Just recently, the 2021 Singapore Best Workplaces Summit recognized 30 companies as the best workplaces amid the COVID-19 context. These employers have developed a good reputation and a strong employer brand that will help them keep their top talents and attract quality applicants.

In the digital age, retaining and hiring top talents has become more and more challenging for HR practitioners. Because of this, companies need to be more mindful of how the public perceives them. Make this work by having a good employer branding strategy in place.

Employer branding gives a strategic advantage. The job market has undergone a massive shift in light of the pandemic. A curious development is how a growing number of people are more inclined to be part of the gig economy. Whether a company will engage more part-time employees as a result of this, strong employer branding will help attract talents that share the same values as the organisation.

As mentioned earlier, employer branding is about reputation. How you manage your company's reputation is an effective way to let it thrive in the evolving job landscape. The more favourable the employer branding is, the more likely they are to keep good employees and attract quality hires.

It influences public perception. It is common these days for people to check online reviews before making purchase decisions or availing of a service. The job market is no exception to this practice.

Studies show that a company with a positive employee retention rate becomes more appealing to potential hires. At the same time, the company’s profitability grows with little additional cost to hire and train recruits.

Positive employer branding makes employees stay. When employees are enthusiastic about their work, they go above and beyond what is expected of them. They are also proactive when it comes to their professional development. They will find ways to upskill since they want to be better contributors to the organisation.

Employees are a company’s most important asset. When employees are happy, a company will have natural ambassadors who will speak well about them. It creates a positive chain reaction both within the organisation that eventually benefits customers. The stronger the employer branding is, the more attractive the company becomes. When the high-quality employees work together, more loyal customers emerge, increasing a company’s profitability. 

Company profitability gets a boost. Whenever a company loses its employees, there is a parallel cost to acquiring a suitable replacement. 

The resources related to talent acquisition are not limited to finances. It will involve time on the part of different stakeholders in the company. The department may initiate the requirement, but it will involve more than just the human resources department. Corporate communications will be involved since it may initially look within the organisation for a replacement. The current employees themselves will play a critical role in hiring new talents.

The fewer resources are allocated to recruitment, the more efficient a company’s manpower budget is handled. It will affect a company’s bottom line, both in the short term and the long term.

Every company has a reputation, but it takes time to build a good one. Many factors contribute to a company’s fame or notoriety. However, three key areas will influence the public’s positive perception of an organisation.

Clarify your Employer Value Proposition or EVP Company culture plays a critical role since it reflects the values of an organisation, and what they deem valuable. Top talents are attracted to companies that share their values, and current employees leave when their values no longer align.

Be transparent about how your company recognises accomplishments and how they are rewarded. This gives potential employees an idea of the kind of support system available to them. 

Identify your challenges in talent retention and acquisition  Retaining and acquiring the right talent has been a challenge, but more so since the pandemic happened. When it comes to creating an employer branding strategy, start by understanding what manpower challenges you are currently experiencing.

If your Executive Management team is thinning, concentrate your employer branding efforts to amplify the benefits you offer this segment. Conversely, if you want more fresh graduates, understand what makes a company popular to this group and plan accordingly.

Take the time to get feedback from current employees and recent hires. An effective feedback system will strengthen the internal communications of an organisation. It will be easy to identify where improvements need to be made as well as areas that are working well.

Get the buy-in on employer branding efforts from all levels  Members of the C-Suite play a double role when it comes to strengthening a company’s employer branding. First, they need to be engaged in its development. Second, they need to be the role models of this initiative. 

Team members, on the other hand, need to be tapped since their experiences will ultimately shape the company culture. How they talk about their day-to-day work will have more bearing than any form of advertising. Current employees are the instant employer branding ambassadors of a company, and their impact is massive.

Maximise your social channels for employer branding A company’s digital assets play a key role in getting your employer branding out. Because an organisation will need a good mix of talents, make sure to engage each group present in the company. 

The company website is a smart place to start with employer branding. Recently, flexibility at work has been cited as one of the more desirable offerings of a company. If your company supports this, highlight it on your website. Check if the Careers portion of your website gives accurate information about your company.

Activate social media pages and show where you stand on recent issues, like workplace discrimination or work-life balance. You can also collect testimonials from the current employees on what makes them stay in their jobs. These give the public a more detailed view of your organisation's culture. Prepare an efficient social media content plan to ensure that the material will reach the target groups.

In addition to revisiting your website and social media pages, review websites dedicated to professionals in the workplace. Create a JobStreet account to get the latest comprehensive job-related reports that will help in decoding global talent. There are tips on how to retain quality talents, attract jobseekers, as well as content that will complement your employer branding.