Employer branding (also known as talent branding) is the term commonly used to describe an organization's reputation as an employer, and its value proposition to its employees, as opposed to its more general corporate brand reputation and value proposition to customers. Employer branding is essential to attracting candidates and retaining employees. Because finding and retaining workforce talent is one of the biggest costs to a business, workforce development professionals have an opportunity to position their talent solutions as one of the biggest value propositions to pain points that companies face.
The National Center for the Middle Market Building the Top Team Report reveals that only 25 percent of those surveyed believed that they had a strong employer brand, yet 83 percent believed that a well-defined employer brand helps keep top talent off their competitor’s payroll. Additionally, businesses with strong employer brands saw revenues increase by 20 percent while firms with weak employer brands grew by only eight (8) percent.
Workforce development professional have a prime opportunity to share these trends with their current and prospective employer customers to demonstrate the relevancy and value of their workforce brands. To do this, develop a list of probing questions to engage employers in a deeper conversation about their employer brand and retention strategies. Start with these 20 questions and see which ones might be of value to add to your consultative needs assessment when discussing employment strategies with employers. As this article points out, developing an effective employer brand requires a strategic perspective towards how a company attracts, engages, and retains talent. This is valuable information to share with your current and perspective employer contacts.
How can you as a workforce professional position your services as a high value-add tool to support businesses in building a great employer brand? Weigh in on our blog here. We want to hear about your innovations.