“Employer branding is the new black,” according to George Anders’ recent article on Forbes.com. LinkedIn is spreading the word about the significance of having a strong employer brand while also providing more tools and resources to help companies promote one on their platform.
So you’re not Apple, Amazon, Deloitte, or Disney. Don’t despair. That doesn’t mean you can’t have an employer brand or employer value proposition of your own.
Here are 4 things to tell your boss when you’re putting it into your 2013 budget:
information may be known to some or all of your organization, but going through
the exercise of defining your brand architecture, your differentiators, and your employer value proposition will make sure that you’re all speaking in one voice.
materials or internal communications. But the essence of the employer value
proposition can be communicated in a multitude of ways, varying by business
unit, country, or corporate initiative.It makes the company money.
A well-defined employer brand will be integrated with the business strategy and articulate the shared responsibilities for achieving success. The ROI is not an HR metric (cost-per-hire, time-to-fill) but rather a metric of revenue growth. In March 1994, the Harvard Business Review wrote about the service-profit chain. Employee satisfaction drives customer satisfaction, loyalty, and revenue growth. This relationship still holds true today. Employer branding fuels employee engagement, which fosters productivity, which fuels profitability.
It saves the company money.
Good employer branding connects employees with cultures, reducing the chance of a hiring misfire. There is transparency in the employer-employee contract and
everyone knows the deal going in. Both turnover rates and recruiting costs go down.
It doesn’t cost a lot of money.
Those of you who have attended my employer branding presentations already have many of the tools to do it yourself. But even going outside to bring in an employer branding expert doesn’t have to be an expensive proposition. Communication audits and employer branding surveys can get the ball rolling, and executive interviews and internal focus groups can be selectively added. For a small research plan, costs can be as low as $10,000. If you’re lucky enough to get a bigger budget, I recommend you survey external constituents to really provide context and color to your internal findings.
Yes, it’s true. Once you have gone through your branding exercise and embedded the essence of your competitive differentiation into your careers website, videos, recruitment and social media marketing, and internal communications, you’re all set to reap the rewards. Happy hiring managers, increased employee referrals, more unsolicited resumés coming in from top talent, lower turnover, and greater retention. You’ll have more time to work on other critical initiatives like workforce planning, talent management, or diversity and inclusion. Or maybe just steal a few extra minutes to read a blog or two.