The national unemployment rate is below 4%, which means finding new talent for your company can be tough. The pool just isn’t as big as it once was. To convince candidates to leave their current employment for the unknown requires an authentic and compelling employer brand.
Once those candidates accept the position, you can show them how great your company is, right? Wrong. Before applying for a job or accepting a position, a candidate will experience 7-10 touches with your company, read 7-8 reviews, and seek out up to 18 sources of information. Those job seekers will know much more about you than you know about them. In fact, 84% of candidates will seek out information about a company’s reputation before they even apply.
If you’re already thinking about company ping-pong tables, unlimited candy, or free beer to boost your image in the eyes of potential employees, then think again. These trendy benefits are useless if you don’t have a supportive and empowering structure in place, and your potential employees will know it.
Wooing the Employed
With unemployment rates at historic lows, you can be almost certain your perfect candidate already works for someone else. The good news is that 92% of employees say they would leave their current role if offered a position with a company with an excellent reputation.
The bad news is that those employees would be willing to leave your company, too, if you don’t cultivate a standout employer brand. With each new hire costing up to $4,000, you can’t afford to lose your best workers due to a bad reputation.
The benefits that employees seek vary from industry to industry, but there are several you can count on, including:
- 70% are happier in their jobs when they receive recognition
- 80% are more interested in a culture fit than career potential
- 87% want professional development opportunities
Providing Continuing Education
Professional development opportunities involve any manner of options, from on-site training to employer-paid university programs. University educations also vary widely, from traditional classroom instruction to online programs. The rate at which technology is changing the workforce may determine the type of continuing education you provide.
If you think your employees don’t have time to think about advancing their careers through education, think again. Lack of growth is one of the top reasons they’ll leave your company and share their talent with one of your competitors.
When to Start Branding
When a candidate arrives for the interview, you’re already too late to start building your employer brand. He or she has already had several opportunities to discover your reputation, and you’re not likely to change their minds about what they’ve found. The time to start is now, focusing first on a deep commitment to providing a transparent, supportive, and productive work environment. Without that commitment, you have nowhere to go.
Once the commitment is made, you must maintain it during the hiring process. Eighty percent of job seekers will accept one job offer over another based on the personal connections made during the interviewing process. That’s why it is vital that you commit to building and maintaining your employer brand at all times, so you can establish relationships, build trust, ensure consistency, and reap the word-of-mouth rewards.
And remember: employer branding isn’t just important for your recruiting efforts. If you don’t create a positive work environment that prioritizes support, acknowledgement, and growth, your current employees will find another job.