Data tokens on this page
Why Your Employer Brand Is the Key to Reducing Employee Turnover
Why Your Employer Brand Is the Key to Reducing Employee Turnover
by Matt Lozar, Haley Marketing
Employer branding has always been a key part of a company’s overall marketing strategy, regardless of economic conditions, hiring trends, or even pandemics. Your ultimate goal in building your brand is to get your jobs filled (and keep them filled) with the right people, and to do so faster than your competition.
In essence, branding is your company’s identity as it is perceived by candidates, employees, customers and other stakeholders. It encompasses your mission, vision, culture, core values, and the overall personality of your business.
- As noted by the Society for Human Resource Management (SHRM), an employer brand affects the recruitment of new employees, the retention and engagement of current employees, and the overall perception of an organization in the talent market.
Build a robust culture, then build your brand around it.
You may be painfully familiar with the financial and other costs of a bad hire. In addition to a price tag that may total many thousands of dollars on paper, collateral damage can include shattered morale, reduced productivity, and a possible ripple effect if good employees leave as a result. It’s impossible to put a price on it all, and it can take a long, long time to make things better again.
- Stop wasting precious resources by hiring candidates who don’t fit your company culture. Focus on shoring up that culture if necessary, and then building a brand that authentically portrays it. In a nutshell, culture is a reflection of how things get done at your workplace. It’s the sum total of formal and informal systems, behaviors, attitudes and mindsets, as well as shared values between an organization and its people.
Culture counts.
Culture is a leading factor in why people choose to take – or stay in – their jobs. According to recent LinkedIn research, professionals under age 40 are 61 percent more likely to associate employer brand with job consideration. LinkedIn experts conclude that an investment in a stronger brand can result in a higher level of candidate consideration of your company, lower recruiting costs, and less voluntary turnover.
- There are numerous tools you can use to build your employer brand around your winning culture. A great place to start is on your career site. Use compelling images, videos and employee testimonials to show what life is really like at your company. Actively seek positive reviews, and have a plan to take the high road as you respond to negative ones. Also consider focusing on industry awards, unique specialty areas or products, community service, and how you further your employees’ professional growth and development.
- Show empathy. Make sure your brand reflects the human side of your organization. People connect with other people, not just with a job. To make your brand resonate with desired talent, illustrate what you do to help people. And, especially in the wake of Covid-19, how do you support wellness, flexibility, and work/life balance?
For additional ideas and expertise to build your employer brand and reduce costly turnover in the process, contact the Haley Marketing team today. Learn more about us and what we can do for your staffing firm by setting up a free, 30-minute recruitment marketing brainstorming session!
