If you want to attract the right candidates and engage existing employees, here's what you need to do: differentiate between your consumer and employer brands and implement an effective employer brand strategy.
A new report from Hudson RPO defines a strong employer brand as "the perception of the organization as a great place to work, by both current and potential employees."
Nearly one-half (44.6%) of Top Employer Brands indicated that they have defined organizational responsibilities for their brands, versus only 17.6% of Other Brands.
The report, titled "How to Launch a Successful Employer Brand: Building on the Practices of Top Employer Brands," reveals that leading organizations devote significant resources to building an employer brand, with a strong focus on creating an employer brand strategy and a defined employee value proposition (EVP).
The report shows that compared to other brands, top employer brands dedicate an average budget of 70 percent more on supporting employer brand initiatives, while twice as many top brands have a defined and documented strategy as compared to other brands.
The global study also found that buy-in from senior company executives, multi-channel communication of a brand and internal promotion are all important components of building a successful employer brand.
The importance of the employees’ role in promoting the employer brand was rated 75.7 out of 100 for Top Brands versus 51.0 among Other Brands.
Suzanne Chadwick, Head of Employer Branding, Digital & Sourcing Innovation for Hudson RPO, said businesses can not rely on a strong consumer brand to recruit and engage employees.
“A clearly defined employer brand will help ensure that those they hire will not only have the right skills, but also be a solid fit with the company’s culture and work environment – resulting in greater employee productivity, increased levels of engagement and higher rates of retention,” Chadwick said.
When it comes to building a successful employer brand, the report noted that certain building blocks are foundational to success, including authenticity, consistency with company practices and consistency with the consumer brand.
The report also recommends developing a brand that is clear, believable, compelling and relevant.
According to Chadwick, it is often unclear as to who ultimately owns an employer brand strategy in many companies.
“Is it HR? Is it marketing? Unclear ownership of an employer brand results in ineffective collaboration and can even cause branding to become a ‘political’ issue. Clear ownership of an employer brand and collaboration from all corners of a business is essential.”
The report also indicates that Top Employer Brands focus more on value to current employees – 49.1% of Top Brands have a documented up-to-date employee value proposition versus 20.0% of Other Brands.