Building a strong Employer Brand is vital to the long-term success of any business. The best companies have the best people, and if you can’t attract top talent, you’ll always be a step behind the competition. It’s said that the best time to plant a tree was 20 years ago, but the second-best time is now. If you haven’t started proactively constructing your Employer Brand strategy, now is the time. Here are the four key reasons to stop procrastinating and start building a robust Employer Branding program.
1. The Economy
The strong US economy is great for the job seeker, but not so great for the employer. The unemployment rate is at 3.8% and continues to fall. Companies are growing fast and having a hard time finding the right talent to fill their many open positions. The number of temporary workers has also increased recently – 20% of all American workers are on temporary contracts – making it harder to build a strong pipeline of qualified candidates and maintain a consistent company culture.
2. Name-Brand Competition
You’re already competing with the “big dogs”, whether you like it or not. Companies like Apple, Google, and Facebook provide their employees with benefits, perks, and resume recognition that few small and medium size companies can compare with. And with remote worker numbers on the rise, companies that were not previously competing with these big brands for talent now are - making Employer Branding more crucial than ever in order to stand out from the crowd.
3. Candidate Expectations Have Changed
Candidates are looking for you the same way you’re looking for them, and what they are looking for in an employer has changed dramatically in the last few years. LinkedIn’s latest annual Talent Driver survey revealed new priorities for candidates, including a convenient commute to work and an inclusive workplace for people of diverse backgrounds. The survey also found that candidates valued “benefits and compensation” first and foremost, followed by a “good work-life balance”.
4. A Strong Employer Brand Takes Time
You didn’t build your company overnight, and you can’t expect to create a strong Employer Brand that quickly, either. You’ll first need to assess your weaknesses – partnering with an Employer Branding consultant can help identify these key opportunities. A prime example is that only 26% of employers target their employer branding efforts to external audiences. You will also need buy-in from leadership, including consensus on where the Employer Branding responsibility falls within the organizational structure. Is it the CEO? HR? Marketing? Thankfully, 70% of senior execs see the need for increased efforts into Employer Branding. Even better, 77% of those in HR and Recruiting agree.
A strong Employer Branding strategy is paramount for attracting top tier talent. As you can see, postponing action will set you back in an increasingly competitive employer market. Whether you are taking your first step toward building your Employer Brand or you’ve already started the process, Proactive Talent is here to help.