A common online sentiment is that the German language has words that have no easy English translation; words that perfectly encapsulate certain concepts or feelings. And as soon as we hear them, there’s that “click” of recognition, of finally being able to find the perfect term for something we all experience.
There are also, however, terms in English that do much the same thing, and one of those terms is “employer branding”. The terminology is new, but the concept? It’s been around for a long time, even if nobody knew how to put it into words.
A company’s reputation as an employer has long been a staple of its success in attracting talent. Historically, this happened mostly in smaller towns where everybody knows each other. But with social media shrinking the world at exponential rates, everywhere is a small town, everybody knows each other, and everybody talks. So your reputation as an employer can be far-reaching indeed. However, it’s only recently that we’ve been able to put a name to the concept. And recruiters are catching on, eager to harness the power of their employer brand in the drive to attract the best and brightest.
LinkedIn recently put out a report listing some fascinating stats about employer branding. Here are some of the highlights that we think you’ll want to note:
- Seventy-two percent of recruiting leaders worldwide agreed that employer brand has a significant impact on hiring.
- Fifty-five percent of recruiting leaders worldwide have a proactive employer brand strategy. This is an interesting one, as it shows that 17 percent of leaders think employer branding is important, but they’re not really doing anything about it. Talk about a missed opportunity!
- A great employer brand can result in a 28 percent reduction in turnover, a 50 percent cost per hire reduction, and 50 percent more qualified applicants. This is information that, according to our first stat, is being completely ignored by 28 percent of recruiting leaders.
- The number one obstacle candidates experience when searching for a job is not knowing what it’s like to work there. Just think of how many great candidates have turned away from your job posting because your employer brand is a mystery.
- Candidates trust the company’s employees three times more than the company itself to provide credible information on what it’s like to work there. This is a huge key to employer branding success. Nobody believes the glossy brochure. They want the straight scoop from the people on the front lines. By providing those honest stories from staffers, the authenticity of your brand skyrockets.
- Seventy-five percent of job seekers consider an employer’s brand before even applying for a job. (Again, making you wonder what the 28 percent of recruiters in our first stat are even thinking.)
By proactively putting effort into your employer brand, you’re not only finding le mot juste for a long-standing phenomenon, you’re ahead of the curve when it comes to making your employer brand work for you, helping you attract the kind of talent that will bring your company to new heights.
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