Employer branding has been an industry buzzword in talent acquisition for several years at this point. However, only a select few companies have taken advantage of this trend. Mainly, they are large and well resourced companies who are constantly recruiting – Goldman Sachs, Google, McKinsey, etc. These are some of the best companies in the world to work for, and we all know this because of their massive investments into employer brand.
So, what is the opportunity for the other 99% of companies? Why would we want to invest in a better culture, sharing that culture with the world, and making sure that talent has a positive experience through the hiring funnel?
As it turns out, there are massive rewards to be reaped through employer branding. Harvard Business Review tells us that we are spending too much on salaries if we don’t have a strong brand. Additionally, LinkedIn research has uncovered that we are losing employees to competitors if this isn’t a focus.
Want to save 7 figures a year?
What we found when we looked at the benefits of branding is that the upside potential is in the 7 figures at the low end for the vast majority of companies (your local bodega excluded).
That may seem really high when you first look at it. If most companies in the world could reap 7 figure savings from increased employer branding, why aren’t they jumping on this trend? Well, look at the best companies in the world and you’ll see efforts being pumped into their employer brand. Look at the most innovative startups and you’ll see the same. These are the early adopters who move fast and understood the power of this trend years ago.
But, that doesn’t mean it’s too late. In fact, many of the companies you compete against for talent will continue to lag in the coming years. There is still time to reap huge rewards from investing in your brand.
Great resource for understanding employer branding ROI
Check out these calculations on employer branding ROI to understand more about how this trend can drive significant value to your business.