Company Reputation and the Job Seeker: The Growing Importance of External Branding and How to Improve Yours
If you're a hiring manager, you've likely felt the imbalance between jobs and job seekers firsthand. According to the August 2023 BLS (Bureau of Labor Statistics) report, the ratio of job openings to available talent (now entering its 10th consecutive month) is nearly 2/1.
8.8 million job openings
6.2 million job seekers
Although the high number of job openings in the United States is a positive sign for the economy, it remains a consistent obstacle for recruiting professionals who ask themselves the same questions. “How can we increase our incoming job applicants?” and “What can we do to attract quality applicants who align with our culture?”
The good news is that applicant interest is within your control and can be refined through a dedicated focus on branding. In this blog, we'll discuss the various elements and importance of branding and explore its profound connection to candidate interest.
We've also compiled a comprehensive list of essential tips and recommendations that will fill your inbox with enthusiastic job seekers if put to good use.
The Evolution of Employer Branding
Technology continues to advance exponentially, and the world itself grows more accessible every day. The result is an ever-growing web of widespread access, leading to a massive uptick in competition within our respective industries and specializations.
Before the internet, a small city might have had two electronics stores. Now, at the click of a mouse, consumers can choose between thousands of retailers all vying for their patronage.
The same can be said of the innumerable options for job seekers today. High-speed transportation has become readily accessible, thus opening a world of opportunity outside of what was once a limited geography. Combined with a steadily increasing stream of remote and hybrid work opportunities, the path is paved for a landscape in which organizations must swiftly adapt and re-prioritize if they’re to garner modern job seekers' interest.
When there are countless options, even within niche markets, differentiation becomes the key to fostering and maintaining appeal to customers and potential hires. That differentiation, who you are and what makes you different, is the very essence of branding. It answers an unspoken question; "Why should I choose you?” Notably, among others who offer arguably similar deliverables?"
Branding and marketing are often mistaken for one another, but while they undoubtedly overlap in many areas, there is still a distinct difference between the two:
Branding is a compilation of elements that help create the context for how you and your company are perceived; it's who you are and why.
Marketing is the strategic and logistical delivery of what you do as an organization and how you do it.
Check out the graphics below for more differentiating examples. (Click the Image to Scroll)
Now let’s get to the good stuff: The results of refining your employer brand, how it can improve your recruiting efforts, and finally - tips on how to do it.
8 Ways that Employer Branding Improves Recruiting Efforts
A robust external brand is a magnet for top talent. When a company is known for its positive reputation, values, and culture, it becomes more appealing to skilled professionals. Here are eight ways that focusing on your external brand will expand your internal recruiting capabilities:
Through branding, you can develop a strong employee value proposition that tells future and current employees what they can expect working with you, your mission, and workplace culture – and, critically, why that's different from working with someone else.
A well-established external brand can attract candidates organically, reducing the need for extensive recruitment efforts and advertising and ultimately reducing recruitment costs.
Companies that establish a solid external brand (one that authentically and accurately represents the organization) tend to attract candidates who are genuinely enthusiastic about the company and its values, resulting in higher-quality job applicants who are in better alignment with the company's goals and culture.
Appealing external branding can also lead to more efficient hiring processes, as candidates are more likely to accept job offers when they have a clear understanding of the organization, its core values and drivers in advance.
A favorable external brand can encourage current and former employees to recommend the company to their networks simply through positive Word-of-Mouth and brand advocacy.
Branding reflecting the company's commitment to diversity and inclusion will attract a more diverse pool of candidates with varied perspectives and skills, both of which are known to be positive developmental factors.
An appealing external brand contributes to deeper employee engagement by attracting employees who already align with the company's culture. Additionally, consistent followthrough regarding alignment with said culture leads to greater employee retention through developed trust.
Lastly, in an exceptionally tight job market, a strong external brand sets a company apart from competitors, making it a preferred choice for job seekers and offering it a competitive advantage in seeking top talent.
Sounds great, right? But how do we get there? Read on!
8 Steps to Refining Your Employer Brand
Understand your employer brand. Step one is clearly understanding who you are as a company and who you want to be. What do you want your company to be known for? What are your core values? What makes your company a great workplace, and what is your culture like? Once you understand your employer brand, you can start communicating it to your target audience.
Be authentic and transparent. Don't try to be something you're not. Be honest about your company's culture, values, and benefits. Candidates can spot a fake from a mile away, whereas transparent authenticity is a magnet for like-minded individuals.
Deliver on your promises. If you say you're going to do something, do it. This includes everything from providing a competitive salary and benefits package to creating a positive work environment. Lack of follow-through leads to eroded trust for both internal employees and customers.
Be consistent. A preference for the familiar is a known factor in brand loyalty. Your employer brand should be consistent across all channels, from your website and social media to your employee communications and marketing materials. Inspiring familiarity across multiple platforms invites a sense of knowing and fulfilling expectations.
Enhance the employee experience. This means providing employees with opportunities for growth and development, a fair, diverse, and equitable workplace, and a positive work-life balance. Happy employees are more likely to be engaged and productive, and as noted above in the "8 Ways that External Branding Will Improve Recruiting Efforts" section, they're also more likely to recommend your company to others.
Be a good corporate citizen. Give back to your community and support causes that are important to your employees. This shows that you care about more than just making a profit, and creates an opportunity to connect with individuals who advocate for similar causes.
Lean into Social Media. It can be awkward at first.. we know! The antiquated perception of social media often involves casual conversations surrounding empty topics, shameless and bloated self-promotion, and overall - being a counter-productive black hole where business hours go to die. Today, that perception is far from the truth.
Not only is social media an excellent means of communicating things like company culture, community involvement, and customer engagement, but it's also an effective avenue for free advertising - an industry that companies have dumped billions of dollars into over the last few decades alone.
Once you begin to view these free and readily accessible tools like Linkedin, Facebook, and Instagram as an open podium in a stadium filled with potential customers, you'll wonder why you disregarded them previously.
Manage negative feedback effectively. If someone has a negative experience with your company, don't ignore it. Take the time to listen to their concerns and take steps to resolve the issue. By regarding sources like Yelp, Glassdoor, and Google reviews as an essential means of forming the perception of your company to the world, you're better able to shape and refine that perception and resolve custom issues in real-time.
From a recruiting perspective, consider the following scenario:
By regarding sources like Yelp, Glassdoor, and Google reviews as an essential means of forming the perception of your company to the world, you're better able to shape and refine that perception and resolve custom issues in real-time.
In conclusion, Improving your external brand reputation takes time and effort, but it's worth it. A strong employer brand can help you attract top talent, boost employee morale, and improve your bottom line. Good luck, and we cant wait to see you out there!