The Three Essential Principles of Effective Employer Branding
The significance of employer branding in organizational success can hardly be overemphasized. To attract the pool of high quality candidates, organizations must work on building their reputation of being a good employer. Employer branding is establishing a company name where people desire to work; it is a company’s image in the minds of its current and potential employees. It can either be good or bad and thus yields results accordingly.
It is still hard to digest that why organizations are so reluctant to invest in employer branding when millions are spent to create a high quality brand image in the minds of customers. Needless to say, that when you accommodate best minds in your organization, growth is a must. On the other hand a bad name as an employer can cost organization millions as stated in a research of LinkedIn. It’s massive!
But here the question arises that when employer branding is so crucial to organizational success, how organizations can cultivate their reputation as a great employer?
Another research of LinkedIn in this regard has brought forward the startling revelation. Usually it is thought that it’s the organization’s compensation policy which attracts candidates. Reality, however, is different. The three essential principles of effective employer branding include:
1. Culture and Values
Surprisingly, this research that included input from 2.2 million employees finds organizational culture a foremost force of attraction for employees as employees prioritize culture and values, 4.9 times more, to compensation. It means that if an organization wants to cultivate itself as a well-reputed employer, it should institute an ideal organizational culture based on set of values which employees find conducive to personal and professional growth.
2. Career Opportunities
The secret of an employer branding is hidden in the organization’s ability to present growth opportunities to its employees. A job with good salary package accompanied with amazing benefits but not presenting career opportunities is no more a preferred choice for employees. Employees find career opportunities 4.5 times more important than salary and benefits.
3. Confidence in Senior Leadership
The third effective principle of employer branding is confidence in senior leadership which is 4 times more important than salary and benefits. Confidence in senior leadership acts a motivational force for employees to give their best as they know that their efforts will be crowned with success.
Effective employer branding requires a well-grounded strategy based on the expectations of current and potential employees. Gone are the days when employees used to think only about the monetary benefits. Today employees place learning and development prior to anything else in their list of expectations from organization. Employees’ expectations have changed and it’s high time that organizations change their strategy as an employer too and invest time, money and efforts on employer branding.