There’s a time and place for numbers, but if you’re thinking about creating, revamping or analysing your Employee Value Proposition (EVP) then you really should familiarise yourself with these figures.
Your Employer Brand – or lack of it – can impact many areas of your business. Without even realising, it can impact how you onboard people, how your people’s performance is managed (and how you reward them), how you think about your internal communications, how your leaders lead, and even how you offboard your leavers.
If you’re serious about attracting the right talent, improving your reputation and putting together a robust EVP, you’ll want to make a note of these statistics:
According to this LinkedIn report, 72% of recruiting leaders, agreed that Employer Brand has a significant impact on hiring. The report also says that the company’s website (69%), online professional networks (61%) and social media (47%) are the channels SME’s focus on when it comes to extending their Employer Brand.
That’s not all, it went on to report that only 55% of recruiting leaders have a proactive Employer Brand strategy, which is surprising, given how important it is; not only can your Employer Brand save you money and make you money, how you present yourself as an employer goes hand in hand with your workplace reputation. Why wouldn’t you want to attract the best people? It’s good to see that 59% of recruiting leaders are investing more in their Employer Brand, but there’s still a long way to go.
It’s not all about you, it’s also about the people who’ll join you. To quote John, our Managing Partner, “Whether you have a stated EVP or employer brand in place, your employees are living every element of it.”
While your Employer Brand states what you’re all about, its main purpose is to showcase why talent should join your company. It’s all about finding the best fit. If you want the best people, you need to understand and anticipate their job-hunting habits. Here are a few more numbers:
75% of job seekers take Employer Brand into account, says LinkedIn, before they even apply for a job. It’s no surprise then, that Glassdoor found that a massive 84% of job seekers mentioned the company’s reputation as an important factor when deciding to apply for a job. Notice how they didn’t say Employer Brand, but reputation? You’ll struggle to establish one without the other, and we’re sure that percentage will have increased in the years since.
Once you’ve established your EVP, you can start showcasing your Employer Brand across your website, wider marketing and social media. It’s worth it, because those stats show candidates are looking.
When networking, you’ll have heard people tell you that they accepted a lower salary because they believed in the values and culture of a company. That’s down to reputation too. A company who knows their values, their offering and who’ve put time and thought into their EVP won’t have to spend as much on recruitment.
Having a clear understanding of your Employer Brand means you can cut down your cost-per-hire and take less time filling a position. It’ll help with retention too – you can be sure from the get-go that you’re hiring the right people at the right time, people who’ll have longevity within your business and not leave because it wasn’t what they expected.
You want to be a company that does what it says on the tin.
Glassdoor backs us up on this; 67% of employers believe retention rates would be higher if candidates knew what to expect about working at a company before taking the job. You can tackle this problem easily if you think about, and implement, your Employer Brand strategy early on in your recruitment process.
Get your Employer Brand right first-time and it’ll become part of the DNA of your business. Staff will succeed and stay if you keep the promises you’ve made. To find out what those promises are, we work with organisations to review, research and develop a bespoke EVP and Employer Brand – once it’s launched internally and externally, you can focus on building a better business with the right people, while rewarding and developing them along the way.
Before you go, think about this. In LinkedIn’s recent article, they shared that 63% of talent professionals expect their employer branding budget to increase or stay the same, even with the current difficulties the world has been facing.
Isn’t it time you put your best foot forward and developed an ongoing, effective Employer Brand? One that’ll have people flocking to work for you, and keep your best people with you? If you agree, then give us a call on 0117 300 3000 or pop us an email to firstname.lastname@example.org.
Author: Toni Chadwick
Date published: 02.03.2021