What is Employer Branding?
Employer branding is the reputation you have as an employer and how it is marketed to job seekers and employees. It is critical for attracting and retaining top talent, reducing turnover rates, and cutting hiring costs, ultimately improving the business’s bottom line. A survey suggests that 69% of employees think it’s important for an employer to have a brand they are proud to support.
Why is Employer Branding Important?
Did you know that 86% of job seekers research a company’s reviews before applying for a job? In today’s competitive labour market, creating a positive brand reputation is crucial. LinkedIn research suggests that companies with a strong employer brand receive 50% more qualified applicants and are much more likely to retain their employees.
The Higher Education Landscape
Colleges and universities are finding it increasingly difficult to retain and attract talent. A study by the 2023 Higher Education Employee Retention Survey indicates that 33% of university staff are likely to seek other employment opportunities. 71% are likely to move to other colleges and universities. Hence, universities need to have a strong employer branding strategy to attract top talent and address retention challenges in higher education.
Successful Employer Branding: learning from the best
1. Netflix
Netflix, one of the world’s most well-known streaming services, has a great employer branding strategy.
Netflix’s careers page starts with a simple heading: "A great workplace combines exceptional colleagues and hard problems." The page highlights the company’s culture, history, and employee stories.
Additionally, Netflix utilizes multiple social media platforms, such as Instagram, to highlight employee stories and internal campaigns. The company also runs the WeAreNetflix Podcast, where employees share their experiences working at Netflix.
2. Marriott
Marriott International, with 30 renowned hotel brands in 131 countries, has a strong employer branding strategy based on three core pillars of their EVP: "Begin," "Belong," and "Become," with the ultimate message “Be you.”
The company uses various media channels and storytelling techniques to show its commitment to its promises. On platforms like Facebook, Instagram, YouTube, and LinkedIn, Marriott shares content that demonstrates its dedication to employee well-being and diversity and inclusion.
How to Develop an Employer Branding Strategy?
Managing employer branding strategies to attract and retain the best talent is not easy. In recruitment branding, there are no instant wins. Instead, an organisation’s employer brand is a combination of small initiatives that collectively bring results. Let’s examine critical components of employer branding so you can create a plan that attracts and retains the best talent.
1. Develop Your Brand Identity
A great employer brand begins by focusing on a company's mission, statement, values, vision, and culture.
These are the main building blocks of an employer brand. Consider the following ideas:
- Determine how your business differs from the competition.
- Establish the company’s guiding principles and goals.
Example: The University of Canberra’s career page showcases the University’s commitment to diversity, embracing similarities, and valuing individual unique contributions, reflecting the institution's values.
2. Develop a Strong Employee Value Proposition (EVP)
An Employee Value Proposition (EVP) is what makes an organisation stand out from its competitors. It is the marketing message and promise that expresses the company’s deeper purpose and positive impact on the world. People want to feel that their work is meaningful, often even at the expense of a bigger paycheck.
Tips to create a strong EVP:
- Research what qualities your ideal employees are looking for in a company.
- Recognize the special perks and benefits your company provides its workers.
- Ensure that your EVP is genuine and consistent with your brand.
A strong EVP should outline both monetary and non-monetary rewards in exchange for an employee’s skills, experience, and efforts. For instance, consider including flexible work hours in your EVP if your target audience values work-life balance. You may also include support for employee career development if your target audience desires to grow within the company.
3. Conduct an Employer Brand Audit
You may not be aware of your company’s reputation among job seekers, so it is important to conduct a brand audit to enhance it further.
Suggestions to get started:
- Conduct internal surveys and get feedback from employees.
- Examine reviews and feedback from career sites and online job boards.
- Hire a firm that monitors reputation.
Glassdoor found that employers with leading employer branding devote time to monitoring employee engagement and taking action on feedback. For instance, if your employer brand suffers due to low ratings on job review sites, you may need to address specific concerns such as work culture and management style.
4. Create a Communication Plan
When executing a strategy to improve the market perception of your brand, use multiple channels to best reach your target audience.
- Locate the platforms (such as social media, career fairs, and job boards) where your ideal candidates actively seek employment.
- Write an ad copy that showcases the brand’s unique selling points.
- Maintain consistency in communication messages across platforms.
Share videos, photos, blogs, and other forms of messaging to ensure you reach a large audience. If your audience is active on LinkedIn, share employee testimonials and content about your company’s culture and values. Using anecdotes about real people can increase the likelihood of attracting more qualified applicants.
For instance, Princeton University uses videos showcasing real employee experiences to communicate what’s unique about working at Princeton.
5. Create a Strong Diversity and Inclusion Initiative
The foundation of a strong employer brand is its commitment to building a diverse and inclusive team. This brings significant benefits, most notably that employees will feel like they belong and are safe at work. Employees who feel recognized among colleagues are more likely to perform at their best. In fact, 3 out of 4 candidates mention that a diverse workforce is essential when evaluating job offers.
6. Offer Learning and Development Opportunities
Providing opportunities for learning and development is one of the most effective retention strategies in higher education institutions. The lack of learning and development opportunities is a common issue, with research showing only 4 out of 10 higher education staff strongly agree that they have opportunities to learn and grow at work. This has been a major reason for employees seeking opportunities at other institutions.
Conclusion
By adopting these strategies, universities can build a strong employer brand. This will increase the ability to attract and retain the best talent in the competitive higher education landscape. Ultimately, this will reduce turnover rates and improve the business bottom line.