The majority of business owners are aware of how branding affects their customer relationships, but your employer brand is equally as vital as your company’s brand. Creating an internal and external employer brand for your small business is a powerful tool for attracting, managing and retaining employees and establishing a favorable employer reputation.
WHAT IS EMPLOYER BRANDING?
Employer Branding or Employer Value Proposition (EVP) refers to a company's reputation as an employer and the value it offers to its workers.
Having a positive employer branding, aids in the recruitment and retention of top talent, which is critical to the company's success and growth. It also gives you a solid competitive edge.
The fact that it is your company's business identity is one of the many reasons why the employer value proposition is so vital. It's what distinguishes your organization as a good employer and makes you stand out to job seekers.
However, it also aids your recruiting team in attracting and improving the application pool.
BENEFITS OF EMPLOYER BRANDING FOR SMALL BUSINESSES
Customer satisfaction
A brand's service quality is determined by the whole experience it provides to its clients. As a result, brand persona plays a critical role in generating such an experience.
According to a study, there is a substantial correlation between employee happiness and staff engagement. Customer satisfaction rises when employees are more engaged, which in turn increases, the company's sales. Only engaged and satisfied employees provide the necessary satisfaction to the brand's customers. Thus, organizations with highly devoted and engaged personnel are more likely to generate above-average customer satisfaction.
Developing company reputation
A strong employer brand may help you stand out from the competition and demonstrate to clients, employees, and community partners that you have deep industry knowledge and business savvy. Small businesses play an essential role in their communities, so building a strong employer brand and promoting your great corporate culture may help you build local relationships and support. When compared to other firms in your field, your branding efforts might have an impact on how others perceive your brand. You can attract new business partners with similar ambitions by building a consistent brand as an employer.
Recruiting top talent
When bright applicants are looking for a new job, they frequently seek out organizations with a strong brand, looking for the best companies to work for in their area or those with the greatest workplace environment. Employer review websites are commonly used by job searchers to learn how current and former employees feel about their employer, including information on remuneration, leadership tactics, workplace attitudes, and business values. You may increase candidate interest in working for your company and being a part of an intriguing brand by developing favourable employer value proposition tools.
Costs are reduced
You don't need to spend as much on recruiting fees if your company is well-known. Candidates will automatically seek you out and apply for your open positions. Instead, you might use this money to improve your brand or develop new products to stay ahead of the competition. Furthermore, because you don't have to spend as much time looking for individuals, your recruiting efforts will be reduced. Candidates are also willing to accept a lower salary if they work for a company with a good reputation and a well-known brand, according to statistics.
STATISTICS EXPLAINING THE IMPORTANCE OF EMPLOYER BRANDING
Research says that the importance of employer branding has been accelerating day by day. The statistics below says it clearly-
- To determine where to apply for a job, 86% of employees and job seekers look at company evaluations and ratings.
- If an organisation actively controls its employer brand, 75% of active job seekers are more likely to apply for a job.
- Even if the compensation rise was higher, 50% of candidates said they would not work for a company with a terrible image
- If offered a position with a company with a good reputation, 92% of people would consider changing employment.
- Almost 30% of job seekers have left a job within the first 90 days of starting that indicates misalignment between the candidate and the employer brand.
- 7 out of 10 people surveyed indicated they had changed their opinion about a brand after seeing the company reply to a review.
- 3 out of 9 job applicants quit within the first 90 days of employment that indicates misalignment between the candidate and the employer brand.
- After witnessing a company's response to a review, 7 out of 10 consumers surveyed said their opinion of the brand had altered.
STRATEGIES OF EMPLOYER BRANDING FOR SMALL BUSINESSES
Be familiar with your candidate persona
To whom are you conversing? What matters to them? It's vital to generate content that will excite and attract more ideal people coming back to your small business.
Create a candidate persona for each of your main audience segments to get a better understanding of who they are. Customer personas might have helped you sell to potential consumers more successfully. Personas for candidates have the same function like customers.
You may use your candidate persona's information to target your marketing and recruitment efforts to particular demographics and attract the right people.
Create Social Media Presence for Your Company
Millennials are more likely to explore a company's employer brand on social media, with over 70% doing so. As a result, your company's brand must shine brightly on social media. It's not enough to have a Facebook page; you also need to keep it updated. Take images of what's going on in the office and upload them online. Allow current employees to use social media to spread information about the organization.
You also want to use other social media platforms outside Facebook. Snapchat, Twitter, Instagram, and any other channels, depending on your target audience. The more accessible you are and the more visible you are, the more your employer's brand is known.
Allow your staff to take part in social media talks
Your staff is, without a doubt, your best ambassadors. Encourage them to take part and let your company's image shine through. For example, instead of sending out email invitations, you could use social media platforms to invite your staff to a company event. You can then give them permission to upload images, tag your company's location, broadcast live videos, and leave comments and thoughts about the event. This will add to the overall enjoyment and enrichment of the encounter.
Job descriptions should promote your company's culture
In your job descriptions, highlight some of the diverse work cultures; Do you have a flexible schedule? Is it possible to work from home? Is it possible to get free food? Can you wear whatever you want on Fridays? Is there a pet-friendly workplace? Is your workplace kid-friendly? You may also use a smartphone to record a promotional job video to show off your office's culture. As a result, the video content will be even more personal and genuine.
It is not necessary to spend a lot of money to have a successful employer brand. A successful employer brand, on the other hand, takes time and demands dedication, careful nurturing, and continual support from all stakeholders.
Consistency is key
Your company size cannot make any difference. A strong employer brand is built on promoting a consistent message. Even if you don't have an EVP, a consistent message helps prospects grasp what makes your company special. Candidates will be confused if you say one thing on your website, another in your job post, and yet another in the interview. It makes it harder to grasp what you're looking for, which means that the people who apply for your vacancies may not be the best fit for your company and, as a result, will be more likely to depart.
CONCLUSION
Finding the right personnel for your company is a difficult task. Employer Value Proposition is fundamentally about assisting someone in comprehending why they should choose you and why they should continue to do so. Flexibility, nimbleness, and uniqueness are the valuable advantages that can help you to attract and retain top talent.
About the Author
Ratnesh Jain is helping businesses succeed and making it happen for entrepreneurs. Runs a 15 yr old Boutique Executive Search & Talent Acquisition firm. Is Strategic Advisor to few growing companies. IIM Ahmedabad alumnus with 30+ yrs of professional and entrepreneurship experience in executive search, business consulting, fintech, Retail banking, FMCG, telecom, education, and wellness.