As the global market becomes more prominent, there are also growing concerns about domestic and international employer branding, especially when it comes to attracting potential candidates and retaining current talent.
Organizations are fighting to attract the right talent and improve their branding through employee development, strategic recruitment, tailored benefits packages, career progression, branding, and sustainable retention.
Employer branding is how employers ensure the satisfaction of their employees. The idea was first introduced in December 1996 by Simon Barrow and Tim Amber in the Journal of Brand Management. The initial idea was to test applying brand management techniques to managing human resources.
These days, it is a great tool for bringing out an optimistic image of an organization to stakeholders through initiatives used to attract talent, engage them, and retain them. These initiatives are used across the modern business world.
Employer branding establishes the identity of firm has as an employer, including their values, policies, systems, and behaviours towards the objective of attracting, motivating, and retaining their current and potential future employees.
Branding is a strategy organizations use to establish an Employer Value Proposition – or EVP – that shows current and prospective employees what makes the organization so unique and a great place to work for. EVP defines what an organization can offer employees.
Things such as competitive salaries, employment fringe benefits, job security, employee development programs, a good work-life balance, a pleasant working atmosphere, and opportunities for career progression, are the most common forms of employment offers.
Google was named the most attractive employer for 2017 in terms of business and engineering. Google attracts students through its relaxed and creative work environment, innovative products, and international atmosphere.
Google is also in a position to offer incredible benefits and opportunities that other companies simply cannot offer. Other leaders in employer branding are Apple, Microsoft, BMW, IBM, Sony, and General Electric.
Establishing a Branding Strategy
There are 5 things organizations need to concentrate on in order to develop an effective employment branding strategy:
- Effective HR planning to identify the needed talent
- Continuous development of an EVP
- Developing an employer marketing strategy for recruitment and retention
- Working with related groups to create a holistic approach to branding
- Using metrics as a measurement to ensure brand awareness and high quality hires
Employer branding has become an emerging issue for companies of all shapes and sizes. The concern has also created a competitive environment for organizations.
Successful businesses understand meeting the demands of both employees and customers is the true path to profitability as happy employees create happy customers. Companies see intellectual capital as a corporate asset they can use to deliver the values of their shareholders.
The key to improving performance and retaining top talent is effectively managing employees and engaging them. This establishes pride, which builds commitment, loyalty, and a sense of respect for work. Effective engagement translates into reputation, which builds a brand. Optimistic employer branding encompasses the mission, values, personality, and culture of an employer and promotes the fact that the organization is a great place to work.
Employer branding leads to financial benefits from the socio-psychological determinants of work performance and employee engagement. It creates a sense of trust between employees and employers and gives employees a sense of pride in working for their organization. Ultimately, if you want to succeed in the modern economy, than branding is paramount.