In today’s economic landscape, attracting and retaining top talent has become a major challenge for businesses of all kinds. For example, according to Canadian labour statistics, over 36.9% of businesses believe that recruiting qualified talent will face challenges in the coming months. If this trend continues, businesses could lose a lot of money due to the shortage of qualified talent. With the fierce competition for skilled workers, the concept of employer branding is of utmost importance.
Indeed, it’s an effective way for companies to stand out and show why they’re a great place to work. In this article, we’ll take a closer look at employer branding and explain how Accolad can help you improve yours. Curious to learn more? Read on.
What is an employer brand?
Employer branding refers to how a company presents itself and treats its potential and current employees. Simply put, employer branding is the company’s reputation as an employer and a place to work. Just as brands strive to attract customers, employer branding aims to attract and retain top talent by focusing on company values and the overall employee experience.
The goal is to create a positive and compelling image that makes people want to work for your company. This allows the company to stand out in a competitive job market and build a strong team of motivated and engaged employees.
Employer branding is about more than just a good reputation. It’s about how potential candidates and current employees perceive your organization. A strong employer brand can have a significant impact on your company’s ability to attract, engage, and retain exceptional talent.
What are the components of the employer brand?
The components of employer branding are diverse and encompass the essential elements for attracting and retaining top talent. Here are some of them:
- Strong corporate culture
- Professional development opportunities
- Attractive social benefits
- Positive work environment
- Transparent communication
- Clear corporate values
- Continuous learning opportunities
- Positive reputation in the job market
- Consistent internal and external perception
With the above mentioned elements, you can build a strong and attractive employer brand for potential employees.
How important are employer branding and corporate culture?
As an employer or human resources manager (HRM), you should consider investing in employer branding. This strategy can help you create a recognizable and memorable identity that differentiates you from your competitors. In addition, it strengthens trust, loyalty and emotional connections with your employees and customers.
Ultimately, this could translate into increased business, customer loyalty, and a strong market presence. Here are some of the top reasons why you should consider building an employer brand and company culture now:
1. Attract the best talents
Most people are looking for more than just a job: they want a rewarding and positive work experience. A strong employer brand helps companies attract these skilled, high-potential talents. It can also serve as a magnet for top-tier candidates. Talented professionals are more likely to consider a company known for its positive work culture and growth opportunities.
2. Employee retention
A positive employer brand not only helps your company attract new talent, but also retain existing employees. When employees are proud of their organization and believe in the company’s mission, they are more likely to stay engaged and dedicated.
3. Employer branding and recruitment: reduced costs
With a strong employer brand, you’ll spend less effort and resources searching for candidates because they’ll be more likely to seek you out. Plus, you’ll see a reduction in employee turnover. This can lead to savings in recruiting expenses.
4. Improved productivity
Employees who align with company values and feel a sense of belonging tend to be more motivated and productive. So if your company offers employees a guarantee of career development, it projects your brand as a great place to work. A strong employer brand can help strengthen this connection.
Finally, these are some of the reasons why it is so important to have an effective employer brand. Now let’s see how to improve your employer brand to stand out from the competition.
5 strategies to stand out from the competition with your employer brand
Already have an employer brand? If not, Accolad is the best solution for creating one. As leaders in recognition solutions, we’ve helped countless companies create a powerful brand that stands out from the crowd. Here are some of our tips for improving your employer brand.
1. Define and communicate your values
Clearly articulate your company’s values, mission, and vision. Potential employees are attracted to organizations that align with their personal values. You need to clearly define your employee value proposition, relative to the company’s brand reputation and the value proposition to your customers.
2. Present your employer brand and company culture
Develop a great digital marketing strategy that targets not only your customers, but also your potential employees. Then, leverage social media, your company website, and other platforms to provide insight into your company culture. Finally, highlight team activities, employee testimonials, and initiatives that demonstrate a positive work environment.
3. Employer branding and recruitment: create a positive experience
A positive work experience goes beyond seamless employee onboarding. It starts in the recruiting phase. From the initial application process to the final interview, make sure candidates have a positive experience. Even those who don’t receive an offer will remember their interaction with your company.
Additionally, create ways for employees to provide feedback and act on it. This shows that your company values its employees’ opinions and is committed to continuous improvement.
4. Make your employees your best ambassadors
Your current employees can be your brand’s most powerful ambassadors. So, encourage them to share their experiences on social media and professional platforms. If you already make them feel comfortable in their work, there will be no need to persuade them to advocate for your company: they will do it voluntarily.
5. Recognize and reward
Implement a strong employee recognition and reward system. Employees who feel appreciated are more likely to remain loyal and recommend your company to others. It’s also a system that will attract talent to your team.
Accolad: the guarantee of the success of your employer brand
As you’ve just discovered, a strong employer brand is a strategic asset that can differentiate your company in a competitive job market. It’s not just about attracting talent, it’s also about creating an environment in which employees thrive and contribute to the success of the organization.
Accolad can help you make this happen. It will help you create an employer brand that stands out from your competitors through automated employee recognition programs.
Want to create a culture of recognition within your company? Talk to our experts now.