Losing an experienced and skilled employee to your competitor can result in negative impacts ranging from a demotivated workforce to decreased productivity. In such a competitive employment environment, finding the right replacement can be a lengthy process, costing big bucks, weakening collaboration, and significantly impacting the bottom line.
Luring candidates to your organization is just half the battle; keeping them engaged and committed to your company’s mission is more important. Considering these factors, organizations are focusing on employer branding — a long-term and emerging human resource (HR) strategy to maintain a stable workforce.
Employer Branding: The Origin Story
Employer branding, a concept rooted in marketing, focuses on creating an attractive image for organizations to draw in and retain employees. This term was first publicly introduced to the audience studying management in 1990, which was later defined by Tim Ambler, Senior Fellow of London Business School, and Simon Barrow, chairman of People in Business, in the Journal of Brand Management in December 1996.
Proven Strategies to Optimizing Employer Branding for Workforce Retention
Leverage Employee Advocacy
Employees can become displeased if they feel they are not purpose-driven and only work for the paycheck, ultimately quitting your organization. Your employees can be your best brand ambassadors if you let them. Encourage your employees to share their positive experiences with your company on online networking social media platforms like LinkedIn, and in online review portals like Glassdoor, Indeed, AmbitionBox, etc.
Invest in Employees\’ Personal Development
Personal growth and development are often the yardsticks for employee happiness within an organization. Growth of an organization is purely based on the capability of its employees. A study shows around 74% of Gen Z and millennials want to quit their jobs due to a lack of skill-building opportunities. By committing to employee development, you set a clear message to new and existing employees that you care about their growth in the long term. Also, organizations with a learning culture have 30-50% higher retention and engagement rates.
Align Branding with Employee Experience
An organization’s positive employer branding perception will always attract candidates. Sometimes, you may be doing all the right things, yet you may be lost in the crowd by not investing in a strong marketing campaign that showcases you as a great place to work. This might attract candidates and make the brand look appealing from the outside. However, inability to match the actual work culture with this image will result in lost trust among new and existing employees.
Therefore, it’s essential to first understand how your current employees perceive your organization and align your branding efforts with reality, making the employer brand more credible.
Prioritize your Culture and Values
Candidates often research your company to understand its values and culture before applying for a job. Many choose to apply because they resonate with your brand. In a time when candidates prioritize company culture and values, it\’s crucial to be authentic rather than creating a facade just to gain their interest. For instance, if you claim to value accountability, it\’s essential to demonstrate accountability throughout the hiring process. This consistency is what employees expect when they join your organization. A disconnect between your projected employer brand and actual practices can negatively impact employee retention.
Make Employer Branding a Continuous Process
Building a strong employer brand isn’t a one-stop exercise. It requires continuous efforts to improve the existing image. Do not accept that your current employer brand is perfect, and it depicts the company the way you imagine. Instead, always keep room for feedback, development, and adjustments in existing practices as often as possible.
To Wrap It Up
Striking the right balance between what you promise and what your people actually experience is key to building long-term trust and loyalty.
At BrandPipal, we help businesses shape authentic cultures and meaningful narratives that resonate from the inside out, making your company a place people choose to stay, contribute to, and grow.
