There has been much discussion by experts in the past about whether employment branding is different and distinct from the corporate brand. Although we may talk about them separately and measure some distinctions, I have always viewed them as one and the same.
Perception is reality and how the market (customers, suppliers, shareholders) view your company directly correlates to your employment brand. If you are seen as a tight-fisted money pinching, low quality product, never take risks type of company there is a direct correlation to the employee/candidate market seeing you in the same light. Of course all of these perceptions may not be 100% accurate but it’s still how you are perceived. It’s up to you and your company to change that perception by education, marketing and by fixing issues in your company that may be creating these problems.
According to recent research here are a few of the benefits of a strong corporate brand for talent acquisition:
- The cost per hire is over 2 times lower for companies with strong employer brands
- Companies with stronger employer brands have 28% lower turnover rates than companies with weaker employer brands.
- Almost none of the recruiters claimed that their company would score less than a 7 (out of 10).
- passive candidates are more attracted by opportunities that offer challenges and the ability to make an impact.
- passive candidates place a higher value on company culture and may even put culture fit above compensation and benefits.
- Active candidates are more drawn to companies that offer strong growth prospects and opportunities to develop their skills.
It’s very important that HR has a strong leader with knowledge about marketing, branding and communications so that they can work with the corporate marketing, branding teams as well as corporate leadership to influence the corporate brand. Strong companies involve HR in brand evolution and work with them to correct any wrong impressions and to re-enforce correct ones. If you’re not currently involved with your corporate branding get involved. If they don’t want you involved, you’re in trouble or maybe it’s only my perception.