Have you been looking for top talent to help your company grow for months but are having difficulty finding the right people? The issue may not be a lack of talent, but rather a lack of employer branding.
Your company’s reputation reveals a lot about what it stands for. The information shared about you and the perception of your services determine whether a customer returns to your company or leaves. It can also assist a potential employee, especially crucial in the IT sector, in deciding whether to accept or pass for a better offer.
As the demand for IT talent grows, businesses are competing more fiercely than ever to hire and retain the best in the industry. Creating a strong employer brand is one of the most effective ways to identify and hire top talent. In this blog post, we’ll look at the importance of employer branding in attracting top IT talent and why businesses should invest in this area.
What is Employer Branding?
Let’s first define employer brand: it is a company’s reputation as a desirable place to work. In other words, the employer brand is how employees and customers perceive the company’s values and work environment. Employer branding aims to attract top talent, boost employee engagement and retention, and create a positive brand image that resonates with job seekers.
Key Factors that Influence Employer Branding: Understanding the Elements that Attract and Retain Top Talent
The 4 Ps of employer branding is a framework that assists businesses in developing a comprehensive and effective employer branding strategy. The four Ps are an abbreviation for:
Purpose: Providing Meaning to Work
The purpose of the company should be at the top of your talent brand. What effect will it have on the community and the world? What truly motivates everyone to come to work every morning? Your employer brand’s purpose should naturally flow from your product and people and be revealed to candidates during the recruiting process.
This is the most difficult, crucial, and rewarding step. Because if your candidate feels your company’s purpose, they’ll accept your job offer even if they can get a slightly higher paycheck elsewhere.
People: Show Them a Workplace They Want to Join
The first thing you should think about is who the candidate will be working with at the company. Things get done in a company only through collaboration. In fact, the majority of your working hours are with these people.
That’s why it’s crucial to prioritize building a positive workplace culture and hiring top talent when developing an employer brand.
Check out this helpful guide from Gini Talent to learn more about creating a positive workplace culture and fostering collaboration.
Product: A Great Product Attracts More Talent
By leveraging the power of your product brand, you can create a strong employer brand that sets you apart as a desirable workplace. Start by identifying your product’s unique strengths and aligning them with the qualities you seek in employees. Communicate how your product provides growth opportunities, cutting-edge challenges, and personal respect to potential candidates.
Paycheck: Make Sure They Are Getting What They Need
Most employees desire more than just a paycheck. They want to be realized, to have a sense of purpose. Innovative businesses should ensure that their employees are not concerned about being paid unfairly so that they can concentrate on doing their jobs well. And your job in attracting great people is to ensure that they are not concerned about the pay they will be offered.
Why is Employer Branding Important?
It was perfectly normal a few generations ago for one employee to celebrate their 25th and 40th birthdays while working for the same company. However, with job boards and other online resources providing up-to-date information about job opportunities worldwide, employee turnover has taken a hit in recent years.
For example, in 2018, the US had a turnover rate of 22%, with 15% of workers leaving voluntarily and nearly 95% of job seekers consider a company’s reputation to be a major factor. Consider the following benefits of employer branding to properly understand how branding is important not only for your bottom line but also for the future sustainability of your organization:
It Attracts the Top Talent
Assume you are given the option of choosing between two cars. One has a proven track record of safety and dependability, while the other has multiple recalls and is known to have frequent mechanical issues. Despite both promising to be equally comfortable and stylish, you are likely to choose the safer and more reliable vehicle.
This is how the majority of the workforce evaluates job opportunities. A whopping 69% of job seekers say they would turn down a job offer from a company with a poor reputation, even if they were unemployed at the time. This means that, given a choice between two companies, job seekers are more likely to gravitate toward the company with a better market perception and reputation. Employer branding may provide an advantage in attracting top talent and in-demand talent, as well as encouraging employee retention in a highly competitive job market.
More Employees Refer Others to Your Company
“People will forget what you said, but they will always remember how you made them feel,” as the saying goes. A worker may not recall the exact contents of their employment letter, but they will recall how simple it was to speak with a superior about a nagging issue at work. They’ll remember how easy it was to take a mental health break during the day, and how paid time off is a normal part of company culture.
Most importantly, current and former employees will undoubtedly tell prospective employees and anyone else who will listen about their positive experiences with your company. Employee referrals are a good barometer for how well your company is doing in terms of workforce affairs and employer brand.
Reduce Recruiting Costs
A bad reputation can cost you a lot of money in terms of customer loyalty, opportunities for growth, and so on. However, being known as a company that does not prioritize employee welfare can literally cost your organization a lot of money.
When your corporate brand excludes employee satisfaction, it has the knock-on effect of attracting and retaining top talent. This influences how much money is needed to entice high-performing employees to join your operations.
It Can Improve Retention Rates
When workers believe they are part of a company that has a powerful brand and a well-defined mission, they are more likely to be pleased with the work they do and to remain employed by the company for a longer period of time. This has the potential to lower turnover rates and save money on costs associated with recruitment and training.
Employer Branding Positions You Favorably on Social Media
Creating a great product that adds value isn’t always a company’s top priority. It is necessary to invest in and focus on people power to ensure that not only are your products and offerings up to par but that you are also continuing to innovate and deliver new value that exceeds your customers’ expectations. This could set your brand apart from the competition.
In the social media age, quick praise is given to organizations that prioritize workers’ welfare, while viral callouts are reserved for brands lacking in growth and development opportunities, care and respect for employees, or those with poor working conditions or unethical practices.
Find Your Next IT Talent: Partner with Gini Talent for Top Talent Acquisition
Ready to start building your employer brand and attracting top IT talent to your company? Consider partnering with a tech recruitment company – Gini Talent! We are committed to assisting businesses in finding the best talent to meet their needs. Whether you’re looking for full-time or temporary employees, we are here to help. Contact us today to learn more!