Your brand is worth everything. So is the company’s. If you ask someone what it’s like to work at your organization, his answer is how he perceives your employer brand. For instance, most people will have an opinion of what it’s like to work at a tech giant like Google or Facebook. Even though the majority have probably never even worked there.
The company’s employer brand is its identity and reputation to prospective and current employees. Almost anything and everything can contribute to the organization’s employer brand. Company culture and its mission, vision, and values are the biggest contributors. The workplace, environment, and leadership structure will also impact it. Additionally, the organization’s external presence like news and social media presence make an impact.
Having a strong employer brand with a story is an important aspect of attracting and retaining top talent. The stronger and more positive the brand, the more talent will want to work for your organization. But, if your brand is strong and negative, talent will most likely run for the hills before applying for the job. And having no brand at all is not a good thing either. Your recruiters will have to work hard to source and convince talent your organization is worth working at.
A lot is riding on your brand so finding ways to measure and track it is important. Here are a few metrics to consider
Recruitment metrics – Time-to-fill and Offer Acceptance Rate
Since the employer brand aids in attracting the talent to the organization, recruitment metrics will be a good gauge of the brand’s effectiveness. Time-to-fill is the length of time it takes the recruiter to fill an open role. Offer acceptance rate is how many offers are actually accepted by candidates. A poor employer brand will show in longer time-to-fills and lower acceptance rates.
Employee engagement metrics – Employee Surveys and Retention Rates
Employee engagement and retention will give an indication of how the brand is working for current employees. Employee surveys can tell you if your employees are feeling engaged with the organization. High retention rates also have a direct correlation with high engagement. Both retention and engagement will support a strong, positive employer brand.
External perception and brand awareness metrics – Employer review rankings and social listening
Lastly, you want the employer brand to speak for itself, even by people who have not worked for you. Employer review sites like Glassdoor and Indeed give a rating based on the organization’s reputation. While, social listening through tracking likes, mentions, and interactions, will give an indication of how well others know the brand and how they feel about it. Both are about the public’s views of the company.
Before taking on your brand, first, determine what is important to the organization and the leaders. Do you want to be known as family-friendly or maybe the workplace that promotes community service? Make sure the culture, mission, vision, values, and goals align with the business practices.
Once you know what the organization and its leaders want, it’ll be easier to determine how your employer brand is impacted. From there, you can use data, metrics, and analytics to create a strong employer brand.
Measuring and tracking your employer brand doesn’t have to be complicated. An HR dashboard automatically collects your organization’s data from multiple systems to calculate the metrics. It takes the cumbersome process of data collection and calculating out of your hands so you can focus on the analytics.