When it comes to finding top talent for your company, employer branding can serve as an extra powerful magnet, helping you beat out the competition and attract the best candidates.

While it may be tempting to slap “great place to work” on your job description, that simply won’t cut it in today’s competitive job market. Candidates dedicate plenty of time to researching and evaluating potential employers.

With a simple Google search, candidates learn everything they need to know about working for you. Beyond the online sleuthing, there is still offline chatter that will determine your company’s reputation. Employees are frequently asked about their job by friends and family. This means that if you don’t take control over how people view your organization, you risk having negative information spread.

What is an Employer Brand?

Strong employer branding is all about creating a positive impression of your company in the minds of potential and current employees. Finding the right talent to work for your business requires that your brand has a reputation that stands out among other companies. Studies show that 86% of workers would not apply or continue to work for a company with a poor reputation.

So what's the best way to attract and retain your top employees? To establish a successful employer brand, you must begin by defining your objectives. This involves producing an employer value proposition that explains the company's distinct advantages and what sets it apart from competitors.

What is an Employer Value Proposition (EVP)?

Your company's values, mission, and culture serve as powerful incentives for employees to work for you. All of these are components of the employer value proposition. They encompass everything your company uses to compensate employees for their talents, skills, and experience.

Companies with high-quality, well-designed EVPs enjoy several benefits:

• Helps communicate value to potential and current employees
• It's the most cost-effective retainer and magnet for top talent
• Reduces hiring costs and boosts productivity

Before creating an employer brand proposition, you should ensure you establish your business benefits, define them, and prove that they work with your current employees.

EVPs are the secret sauce of workplace happiness. This not only helps with attracting and retaining top talent, but it also reengages employees who might be feeling disengaged or apathetic about their work environment.

Employers that offer a competitive employer value proposition (EVP) are rewarded with engaged, productive employees who drive the business forward and reach new heights of success.

What is the Value of an Employer Brand?

Employer brands are at the heart of every company. They drive employee engagement and retention, as well as attract top talent to your organization by establishing a sense of belonging through shared values that employees can connect with on an emotional level.

The following are some of the most significant advantages of developing a strong employer brand:

Reduce Recruiting Costs

Employers have choices when it comes to marketing themselves. They can either invest in building a strong employer brand that speaks for itself, or they can spend a lot of time and energy on sourcing candidates and managing churn. The best way to keep your recruiting costs low is by building a strong employer brand. A solid brand with clarity of vision will entice potential workers to apply and stay with you after they've joined!

A strong employer brand will also help you find people who are a good match for your company's goals. Candidates know exactly what they must accomplish and are driven to do so. According to research, it helps decrease turnover rates by 28% while cutting costs per hire by half.

Easier On HR

With human resources in charge of managing the employee lifecycle, having a strong employer brand helps them succeed at each stage. From recruitment to onboarding and beyond, employer branding is a powerful tool that helps HR professionals do their job more effectively.

With employer branding, they'll be able to bring in better-suited employees who are already aware of your company's goals and values.

Better Candidates

Companies with strong employer brands are more likely to attract up to 50% more qualified applicants. This is because they stand out from other companies, showing that there's something special about them and their work cultures – something appealing enough for top candidates. These are candidates often looking for long-term, fulfilling careers.

Better Employee Engagement/Satisfaction

Employer branding leads to better employee engagement and satisfaction. This is because employees are able to visualize their employer's goals and how they can contribute, which drives them to work harder. They feel that the company truly cares about what matters most: its people.

Employer branding also encourages workers across all demographics to stay with a company for longer periods of time by making sure important factors align between employer and employee.

How to Improve Your Employer Branding

With so many benefits that a strong employer brand provides, it's no wonder that employers are investing time and effort into developing their strategy. When it comes to recruiting, your reputation is everything.

Employers should use marketing techniques to strengthen their employer branding. This will help them build deep and meaningful relationships with employees as well as boost the company's brand power!

Here are some things to consider when determining how to improve your employer branding:

1. More than Just Compensation

When it comes to employer branding, compensation is just one piece of the puzzle. Benefits and other perks can speak volumes about what you're all about as a company. If your employer brand includes competitive pay and benefits that employees actually care about (i.e., health insurance, flexible schedules), then people will be more likely to stay with you long-term.

2. Define your Culture

Every single employer has a unique work environment and mission, so it's vital to get this part of your employer brand right from the start. Your company's values should align with its vision for success in order to appeal to the best talent out there. The culture of your business will set the tone for how people interact with each other on a daily basis.

3. Focus on Diversity

In order for companies to be competitive in today's changing workforce, they need a team that brings different perspectives and ideas together. By highlighting why you're committed to building an inclusive culture, individuals from all backgrounds will be interested in working for you. One great example is this culture statement by thesis.

4. Video and Other Media

A strong employer branding strategy doesn't end with the written word. In order to really connect with your audience, it's important to explore other media options as well. In addition to employer branding content that's included on your website, it's important to consider other ways you can improve employer brand awareness.

Sharing your company’s story in a compelling way can help you stand out among other employers. By using a combination of photos, slideshows, and high-quality videos, you can enhance your employer brand. With tools like Lumina’s video job postings, you can quickly convert job ads into engaging videos (all you need to provide is the job link).

These are effective tools because they help people get a better feel for the employer brand and the type of work environment that they'd be entering.

Build Your Employer Brand

Your employer brand will exist regardless of whether or not you decide to develop employer branding strategies. However, positive employer branding is more than just attracting and keeping top talent. It's about making your business a great place to work.

Improving employer branding isn't a one-and-done task. It requires dedication and commitment, but the payoff is well worth it! By building a strong employer brand, companies can recruit top talent and boost employee satisfaction.

At Lumina we offer an intuitive platform that bridges the gap between HR and Marketing. Featuring a suite of easily customizable creative assets -- including video job postings -- Lumina helps your team attract candidates and source hires.

Try it for yourself at: www.lumina.co