Money’s not enough to entice top talent anymore. Sure, you could flaunt a $70K starting salary for an entry level position, and you’ll get plenty of bites. If that’s all you have to offer though, chances are you’ll have a hard time filling that position with a stellar candidate and struggle even harder to keep them.
You need a more holistic approach to attracting candidates. That means building a positive reputation and brand is more important than ever. Your employer brand is invaluable to your hiring efforts. In fact, when you invest in it, you’re three times more likely to make quality hires.
That’s not all though. A LinkedIn study reported that employer branding can improve your company’s employee retention rates, reducing organizational turnover by 28 percent. The study also found that employer branding can reduce hiring costs, increase the number of quality candidates and accelerate your hiring process.
You get the picture. Employer branding is kind of a big deal. But where do you start in implementing it? The answer is simple—your employees.
Taking care of your existing staff is the best way to attract more people to come work for you. It’s all part of your Employer Value Proposition (EVP), which covers everything that your organization offers to benefit employees. List every reason why a highly talented person would choose to work for you, and that’s your EVP.
Be the EVP MVP
A company with a good EVP has high employee engagement, productivity and retention. Keeping your employees happy isn’t just great for internal operations though. Your employees are crucial for your outreach efforts. They can either be your best brand ambassadors or your worst dissenters. It all depends on how you treat them.
Either way, people on the outside trust current employees more than anyone else on matters of a company’s reputation. That’s why your company’s ratings on sites like Glassdoor are so important. It doesn’t matter how much money you spend on a recruitment marketing campaign. If job seekers see that your existing employees are less than satisfied, they won’t apply. In fact, 69 percent of unemployed job seekers would refuse to work for a company with a bad reputation.
The best way to make both current and potential employees happy is by offering growth opportunities, 401K benefits and a positive workplace culture. These are what job seekers today value most and are therefore crucial elements for maximizing your EVP.
Make Your Company More Human
People need to feel appreciated and empowered at work in order to perform. In fact, happy employees are 22 percent more productive than those who are unhappy. That’s why positive reinforcement needs to be ingrained in your corporate culture. Research shows that recognition for achievements is a huge factor in creating a happy, fulfilling and human work environment.
Having strong values and a good culture benefit both your employees and your employer brand. Your branding shows people who your company is and what makes it great. Social media is crucial for your outreach and recruiting efforts.
These platforms allow you to give your company a more personalized feel. You can share employee accomplishments, company events and fun corporate culture videos to show outsiders what life is like at your company.
All of these things show that your organization values the people who keep it running—that it both inspires its employees and is inspired by them. And that, above all else, is what people want in a workplace.