4 reasons why your employer brand matters
Getting to the heart of your employee value proposition (EVP)
We recently spoke to Catherine Spiller, Head of Business at NeonLogic, to discuss the importance of employee value proposition (EVP) and how it can help businesses attract and retain the best staff.
Hiring managers – we know you’re doing it tough right now! Regardless of the industry you’re in, it’s likely you’re facing significant talent shortages across a variety of roles and levels. With unemployment at an all-time low, and our borders reopening - putting further pressure on our talent short market, attracting and retaining the best talent is a massive challenge. That’s why, now more than ever, building a strong and authentic employer brand is vital.
What is an employer brand? Simply put, it's the relationship you have with your employees - whether they are current, past or potential. It’s the personality of your employee value proposition (EVP) reflected in all your candidate and employee communications, and it’s also your reputation as an employer. To be successful, a well-crafted employer brand will become a living part of your culture.
Employee value proposition
Your employee value proposition (EVP) answers the unspoken question in employees’ and candidates’ minds “what’s in it for me if I work here?” It’s the combination of both the rational and emotional benefits they receive in return for their performance in your workplace. Your EVP statement should answer this question, and at the same time inspire your employees to achieve the goals of your business.
Here’s 4 reasons why your employer brand matters:
1. Attract the best talent
In this market, quality candidates have their pick of potential employers. A well-crafted employer brand which effectively communicates your EVP will help you to stand out from other employers. Communicating your employer brand across all the touchpoints of the candidate journey builds confidence in your organisation as the right choice for their career journey.
2. Nurture your workplace culture
An employer brand isn’t simply a way to lure new talent, but a living, breathing part of your existing employees’ experience. Involving as wide a selection of employees as possible in the development of an employer brand will both foster their connection to your organisation, and ensure authenticity. Investing in ways to ensure that it's is woven throughout all touchpoints in the organisation, from staff wellness initiatives to internal processes and communications, will go a long way to demonstrating that your organisation knows how to walk the walk, and retaining your most precious asset – your people.
3. Talent advocacy
Engaged, loyal employees become your employer brand ambassadors – whether it be casually at a BBQ with friends or more formally at industry events. The sense of pride in working for an ‘employer of choice’ builds a culture of unreserved referrals.
4. Reduce cost per hire
A strong employer brand can reduce the cost per hire by as much as 50%, and a negative reputation can cost a company as much as 10% more per hire. Meaning that organisations who have invested in developing and communicating an authentic employer brand enjoy a strong ROI.
So, what are the first steps to building a strong employer brand?
In reality, you already have an employer brand, whether you do anything about it or not. Investing in employer branding gives you the tools to market and manage your EVP, and tell your employment story.
The methodology to develop an effective employer brand that resonates with both potential and current employees is underpinned by research. From desk-based research into your current channels, market perceptions and the competitive landscape, to qualitative research into the perceptions and beliefs of your employees – including focus groups that encourage open and free dialogue.
This insight gathering exercise will provide you with an authentic view of your unique work environment and culture from current employees, and defines the characteristics of an ideal employee, providing a stable platform from which to develop a strategy to attract the ‘right fit’ into your organisation.
So, the first step is to engage with those who have first-hand experience your employer brand – your people! They know better than anyone what makes your organisation a great place to work.
You can also talk to your dedicated Trade Me Jobs Account Manager about how best to utilise BrandingPlus and engage agencies like NeonLogic, who are experienced in facilitating fun, informative workshops, designed to get to the heart of what makes your organisation unique.