In an age where employees are reconsidering their relationship with work, companies may find themselves struggling to attract and retain the best talent. This is particularly true in Luxembourg were this shortage of talent is a recognised challenge amongst most businesses.
Today, when choosing an employer, traditional benefits like job stability and high salaries are no longer the only aspects taken into consideration by job seekers. Instead, a company’s culture, the flexibility offered, work-life balance, career and personal growth opportunities are taking an ever more important role in the decision to join or stay in an organisation for employees, regardless of age and experience.
In addition to this, (un)intentional roadblocks for underrepresented talent (women and minorities), significantly reduce the pool that companies have access to.
For instance, according to McKinsey the shortage of tech talent in Europe, a big component of the European tech weakness that translates into lack of competitiveness, could be solved if companies could tap into female tech talent. Unfortunately, that’s easier to said than done.
This is just one example where employer branding can make the real difference between companies.
What is employer branding?
In a very nutshell, employer branding is the reputation that your company has as an employer.
Employer branding relates to the perceptions that current and potential employees have of working for your company and, naturally, it influences the choices that job seekers and employees make.
However, a dangerous misconception about employer branding is that this should simply be about the process of “influencing and managing perceptions about your organisation”. A quick search on Google will show just how many articles are written offering this approach.
While the ultimate goal of an effective employer branding is to make a company more attractive to talent, businesses that limit their efforts to working on external impressions miss an important opportunity to significantly improve their internal culture, with all the proven benefits that come with having a positive company culture.
How do you develop a strong employer brand?
1. Define your value proposition
The very first thing that a company that is serious about employer branding
should do is to take a sober look at itself.
Those famous mission statements, the values of the companies that are so fervently advertised, do they really resonate with the employees? Do employees know, understand and, most importantly, believe in what the company stands for?
Whether the company’s positioning, its values, mission, vision etc are already formalised or not yet, it’s critical to work on your value proposition before launching into any employer branding exercise
Importantly, reviewing or defining a brand positioning and value proposition is not something that can be done by a department in isolation. All levels of the organization need to be involved, from the C-suite to the most junior employees.
2. Define your target audience
Two areas in particular should be explored:
->What workforce the company needs to succeed: Who are they and what matters to them (i.e. what they are looking for when they apply for a job with the company, what the company offers in return for their talent)
-> Gauge employees feeling towards the company’s brand:
- Feelings about their journey with the company
- Do they feel like an active part of the company results?
- Do they understand what is their role in making the company successful?
- Is the company recognizing their efforts in a way that resonates with them?
3. Develop your EVP (Employee Value Proposition)
Once your external and internal value proposition is defined and your audience defined, you will be in a good place to create an EVP. This is a formal document that clearly articulates expectations and rewards, complementing and enhancing the company’s values in order to help aligning the company’s and the employees’
goals and expectations.
However, creating documents like the EVP and believing that the job is done is not enough. The EVP is only as good as its implementation. Only by fully embracing the EVP will you, your managers, your employees, and ultimately your company succeed. The EVP and its key elements must impact on the whole employee journey, from recruiting advertising, to induction, training, quarterly and yearly review through to the alumni phase.
4. Communicate your brand
Based on the EVP you can then create a strong employer brand message: Develop a clear and concise message that communicates your value proposition and resonates with your target audience. Your message should be consistent across all communication channels and reflect your company’s culture and values.
Additionally, leverage social media and digital channels to showcase your company culture and share employee stories. This can include blogs, videos, podcasts, and social media posts.
Finally, encourage your employees to participate in your employer branding efforts. This can include employee advocacy programs, social media campaigns, and employee referral programs.
5. Measure your results
Track your progress and measure the success of your employer branding efforts. This can include metrics such as employee retention rates, employee engagement, and candidate conversion rates.
Also ensure to create two-way communication channels with your employees to ensure that the company’s value proposition and culture are working as expected and that yours is in affect an inclusive company where everyone can grow and thrive.
Creating a strong employer brand takes time and effort, but it can pay off in attracting and retaining top talent and building a strong company culture.
At KnowThyBrand we have over 10 years of experience working with organisations to help them develop an effective and strong employer brand. Contact us at email@example.com to find out how we can help your business.