We’re in the midst of one of the worst hiring crunches of all time. It’s taking longer than ever to fill positions, and right now 68% of HR managers say they’re having problems with staffing. That number was at 50% in 2013. Under this kind or pressure, anyone who needs to hire is trying to figure out where they can apply the least force for the greatest results. We’re spread thin, and we need to make things happen with the resources we’ve got.
So what about employer branding?
It probably sounds wishy-washy. If you’re in the hiring trenches, it might sound like something huge companies with profits to burn do to help with tax write-offs. But check this out:
Companies with bad employer branding pay 10% more per hire, a number that adds up fast. Also, even if you offer to increase their pay, 50% of candidates say they won’t work for a company with a bad reputation. But having a positive employer brand can bring you twice as many candidates, and cut your employee costs. A solid employer brand can also increase engagement, which has been shown to have a positive effect on bottom lines.
Here’s the other thing you should know: you already have an employer brand. Social media gave employees the power to create and heavily influence it while ago. Are you going to get involved in how it is shaped?
Ok, are you convinced yet? Check out this infographic from Betterteam, with more interesting stats on employer branding, and advice you can use to improve yours from experts in the field.
Convinced now? Employer branding is a path to a solid pipeline of great applicants. Get active on improving yours today, and reap the benefits.
Struggling to figure out just how you’re going to measure the effectiveness of your employer branding? Check out this great article that will steer you in the right direction.