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Having paved its way into the dictionary of businesses quite recently, employer branding is an approach used by companies to build their reputation in the eyes of potential employees. Not only does this help them create a brand image, such that candidates seek to be a part of the organisation, but also helps companies recruit employees of their choice. In layman terms, employer branding is a technique used by companies to occupy the mindshare of prospective employees and thus get identified as the most desired company.
But what relevance does it hold in today’s scenario? To help you out of this conundrum, we are here to explain the importance of building an employer brand and the reasons why this term has caught the attention of several organizations.
Recruiting the right candidate is getting more and more difficult for organizations. And in a world that’s full of people looking for jobs, it is crucial for companies to reach out to maximum people in order to shortlist a few that suit their requirement. This is where employer branding comes into play. This directly infers to the fact that if a company has a well-built reputation, they will not need to rely on external sources for hiring candidates, which in turn will help them decrease the cost-per-hire for the organization.
Another factor that is directly linked with employer branding is the positive effect it has on the employees across the organization. Once the boat sails, various departments can get involved in building a reputation for the firm. This means that creating a brand image will release the burden off the HR department and allow other departments like that of Marketing to pitch in and create strategies for awareness about the organization. That goes to say that different departments can then refer candidates, share testimonials and work on culture-building activities that will go a long way in establishing the said brand.
Apart from gaining the mindshare of potential employees, employer branding also helps in retaining current employees. Creating policies that are employee-friendly will not only leave a positive impact on the firm's employees but will also make them hold on to the organization for longer periods of time. This acts as a win-win situation for both, the employer and the employee.
Thus, if the employee is happy in an organization and works dedicatedly to come up with better and innovative ideas, it will directly contribute to the success of the business. So, the key lies in creating an environment that is employee-centric, motivates them to be productive and at the same time helps in the revenue growth of the organization.
Building a strong employer brand not only helps the company internally, in terms of hiring and retaining candidates, but also goes as far as creating an image amongst a wider set of people in the business community. In simpler words, if a company is known amongst its peers and competitors for providing outstanding services and abiding by great policies, it is likely to get the mindshare of many clients. It will create a buzz about the organization and help them tap more and better clients, resulting in the growth of the business.
If a brand is recognized by a wider audience and many people are aware of the company and the values they live by, many candidates will want to join the organization. This gets easier in cases where employee referral programs come into the picture. The employees of a particular organization will be able to better convince their friends about joining their company if it has a brand image and is known by many. Thus, the organization will be able to hire more candidates with little effort.
Employer branding is a term which encapsulates a greater meaning in itself, encompassing various domains associated with running a business smoothly. So, instead of laying emphasis on each of these aspects individually, it is better to focus on building an employer brand, which will loop in all related stakeholders and help in building the foundations of a successful business.
But what relevance does it hold in today’s scenario? To help you out of this conundrum, we are here to explain the importance of building an employer brand and the reasons why this term has caught the attention of several organizations.
1. Aids in reaching out to a larger talent pool
Recruiting the right candidate is getting more and more difficult for organizations. And in a world that’s full of people looking for jobs, it is crucial for companies to reach out to maximum people in order to shortlist a few that suit their requirement. This is where employer branding comes into play. This directly infers to the fact that if a company has a well-built reputation, they will not need to rely on external sources for hiring candidates, which in turn will help them decrease the cost-per-hire for the organization.
2. Increases brand ownership within the organization
Another factor that is directly linked with employer branding is the positive effect it has on the employees across the organization. Once the boat sails, various departments can get involved in building a reputation for the firm. This means that creating a brand image will release the burden off the HR department and allow other departments like that of Marketing to pitch in and create strategies for awareness about the organization. That goes to say that different departments can then refer candidates, share testimonials and work on culture-building activities that will go a long way in establishing the said brand.
3. Retains the current employees
Apart from gaining the mindshare of potential employees, employer branding also helps in retaining current employees. Creating policies that are employee-friendly will not only leave a positive impact on the firm's employees but will also make them hold on to the organization for longer periods of time. This acts as a win-win situation for both, the employer and the employee.
Thus, if the employee is happy in an organization and works dedicatedly to come up with better and innovative ideas, it will directly contribute to the success of the business. So, the key lies in creating an environment that is employee-centric, motivates them to be productive and at the same time helps in the revenue growth of the organization.
4. Creates a stir in the business community
Building a strong employer brand not only helps the company internally, in terms of hiring and retaining candidates, but also goes as far as creating an image amongst a wider set of people in the business community. In simpler words, if a company is known amongst its peers and competitors for providing outstanding services and abiding by great policies, it is likely to get the mindshare of many clients. It will create a buzz about the organization and help them tap more and better clients, resulting in the growth of the business.
5. Helps define the employee referral program
If a brand is recognized by a wider audience and many people are aware of the company and the values they live by, many candidates will want to join the organization. This gets easier in cases where employee referral programs come into the picture. The employees of a particular organization will be able to better convince their friends about joining their company if it has a brand image and is known by many. Thus, the organization will be able to hire more candidates with little effort.
Employer branding is a term which encapsulates a greater meaning in itself, encompassing various domains associated with running a business smoothly. So, instead of laying emphasis on each of these aspects individually, it is better to focus on building an employer brand, which will loop in all related stakeholders and help in building the foundations of a successful business.
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