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Tag: employers guide

  • Measuring the Success of Your Employer Brand: Metrics and KPIs to Track

    Measuring the Success of Your Employer Brand: Metrics and KPIs to Track

    “You can’t improve what you don’t measure.” Often attributed to Peter Drucker, this quote has elicited plenty of admiration and plenty of ire.

    Thus, the same applies to every effort put into building an employer brand. Missing to measure the employer brand’s success means directing your brand toward a road that takes you out of the competitive landscape.

    A strong employer brand can help you attract and retain top talent, improve employee engagement, and boost your bottom line. But how do you know if your employer brand is successful?

    Just as Rome wasn’t built in a day, neither is your employer brand, indicating the time required to produce a favourable output. And by tracking the right metrics and KPIs, you can get a clear picture of how your employer brand is performing and make necessary adjustments to improve it. To ensure the success of employer branding, understand what are the key metrics you should be tracking down to measure the effectiveness of your employer brand.

    The Must-track Employer Branding Metrics

    1. Employee referral rate

    Current employees usually recommend you to their circle only when they are happy working at your organisation. When employees refer people within their network, they trust your brand and add resources to the pool of qualified candidates.

    Analyse the employee referral data and check whether your existing workforce is willing to advocate for you.

    High employee referral rate = High employer branding success rate

    1. Cost-per-hire

    The cost to make a new hire consists of recruitment fees, pre-employment assessments, advertisements & promotions, and more. Organisations enjoying strong employer brands incur low cost-per-hire, and even the cost comes down to almost half in some cases. This is the power of the brand.

    A company that has earned a reputation over time will attract more candidates, who turn out to be better fitted. If your organisation has more quality candidates applying for jobs, you can spend less time and money sourcing ideal candidates.

    The lower the cost-per-hire, the more the chances for the employer brand to grow.

    1. Quality of candidates

    The metric is considered the most powerful yet difficult to measure, encompassing several other metrics. Undoubtedly, a strong employer brand attracts high-quality candidates because present-day job seekers also prefer working with established brands.

    Simply put, determine the quality of candidate profiles and check how experienced and competent they are to match the vacant positions.

    Is the quality of applications below average? Well! It means you need to work on employer branding.

    1. Employee engagement rate

    Employee engagement rate is another robust metric to measure how well your employer brand is performing. To name a few, learning and professional development opportunities are the ones that boost the employee engagement level.

    To measure the level of engagement, you can conduct employee surveys and ensure the questions cover all aspects like leadership, learning, peer relationships, and more.

    Scan the employees’ responses and conclude whether your efforts are reaping benefits.

    Learn about the Importance of Continuous Learning and Professional Development

    1. Social media engagement

    Tracking social media engagement requires you first to set social media goals. For example, if you want brand recognition, track the number of followers, impressions, and reach. If you want to boost interaction with potential candidates, check likes, comments, and shares on the posts.

    Results do not reflect overnight. Therefore, look at the performance over a period of time and observe the trend. If employee engagement on your social media handles is also high, there are chances of generating more tremendous employer branding success.

    The more people engage with your employer brand, the more they can relate to it.

    1. Employer brand index

    Employer brand index involves checking what employees say about your company online. The platforms to check their online reviews are employer review sites, social media platforms, and online forums.

    Based on the opinions shared by employees online, EBI focuses on specific parts of the employer value proposition having the most positive and negative impact.

    The metric also indicates the overall health and performance of your employer brand.

    How to interpret your results and make improvements?

    Once you have collected data on the metrics and KPIs you are tracking, you need to interpret your results and make improvements. Here are a few tips for interpreting your results:

    • Compare your results to previous periods: This will help you see how your employer brand is performing over time.
    • Compare your results to other companies: This will help you see how your employer brand is performing relative to the competition.
    • Set benchmarks: Set targets for each metric and KPI. This will help you track your progress and make improvements.
    • Analyze your results: Look for trends and patterns in your results. This will help you identify areas where your employer brand is weak and make improvements.
    • Make changes: Based on your analysis, make changes to your employer branding initiatives.

    By measuring the success of your employer brand, you can ensure that your efforts are effective in attracting and retaining top talent.

    Summary

    The trickiest part about measuring employer branding success is that there is no industry standard to follow. Moreover, each organisation is creating and using different metrics without the intent to create a benchmark. Nevertheless, it is important to identify and use the most useful, easy-to-read KPIs to facilitate quicker identification of optimisation for making improvements.

    Consistently measuring your employer brand over time will help you see how your efforts are working, and you can identify areas where your employer brand is weak and make improvements.

    The world is already battling against a talent shortage, and it’s high time for organisations to level up their employer value proposition. Thus, by measuring the success of your employer brand, you can ensure that your efforts are effective in attracting and retaining top talent.

    Read more about The Talent Shortage Crisis

    Why choose CGP Singapore to attract top talent?

    Sourcing suitable candidates is arduous and becomes even more challenging when your business is niche-specific. Cornerstone Global Partners can help you find candidates for hard-to-fill roles in these situations. We are one of Asia’s most prominent recruitment solutions providers, with 19 offices worldwide and over 500 team members delivering exceptional

    • Executive Search
    • Contracting, Recruitment Process Outsourcing (RPO)
    • Human Resources Outsourcing services 

    Reach out to us with your recruitment needs.

  • Why Employer Branding Matters: The Benefits of Investing in Your Company’s Reputation

    Why Employer Branding Matters: The Benefits of Investing in Your Company’s Reputation

    In the past few years, employer branding has become more than street talk. Instead, it has become essential for employers to brand themselves proactively and attract top talent. 

    Employer branding is how an organisation is perceived by its current & potential employees. Over time, the way companies recruit and retain employees has changed. Visibly, employers have begun understanding what their organisation can truly offer to job seekers and are turning it into a value proposition. 

    While there are plenty of employer branding strategies, you must first learn the benefits of employer branding before strategising. 

    Do you know?

    According to Glassdoor, 50% of candidates said they wouldn’t work for a company with a bad reputation even if offered a pay increase. 

    According to AIHR, an employer with a strong employer brand can experience the following:

    • 50% reduction in cost per hire 
    • 50% more qualified applicants

    According to LinkedIn, 

    • 55% of recruiting leaders have a proactive employer brand strategy
    • 59% of recruiting leaders worldwide are investing more in employer brand

    The numbers above are enough to justify the importance of employer branding. Let us focus on the advantages of building and maintaining your company’s reputation.  

    Building your Company’s Reputation: What Difference Can it Make?

    By now, you probably have a good idea of the importance of having an employer brand for effective talent acquisition. The following section summarises the ‘why’ of building your company’s reputation. 

    1. Reduces the employee turnover rate

    With great candidates comes greater expectations. They are smart and know their expectations from the organisation. But unfortunately, when employees do not receive what they expect, they prefer to exit the company. As a consequence, even the happiest of employees get demoralised. However, the good news is you can enhance employee engagement and retain your people with an impregnable employer brand. 

    1. Attracts the best talent

    Apart from retaining existing employees, a well-built employer brand places you in a dominant position where you can attract top talent. Nowadays, job seekers apply for a job only if they feel the employer brand is strong enough. Understand it this way: Your organisation’s mission, values, and culture are clearly depicted through the employer brand and outshine others. Therefore, job candidates would automatically get attracted to your brand.  

    1. Motivates employees

    Employees who are happy with their work environment stay more motivated and engaged. And when your people are happy, it generates high productivity levels and makes your employees stay for longer. Besides, they begin relating to the company’s goals & mission. So, in the long run, the existing employees become your brand’s ambassadors, whose voices and figures you can use for employer branding. 

    1. Improves growth rate

    Every organisation worldwide depends on its workforce to achieve its aims. That’s where employer branding steps in. Talent acquisition becomes easier for companies having a strong employer brand. If you stay true to maintaining your company’s reputation, you will receive more job applications than ever. Moreover, candidates would happily accept your job offers, which will pave the success path for your organisation. 

    1. Demonstrates your unique culture 

    While employer branding ain’t a subject you can learn overnight, it takes consistent efforts and involvement of the organisation’s key members. To truly gauge its success rate, you must ensure your work culture is voiced. Look for ways to make your work culture more employee-friendly because candidates love working with companies that value their members. Besides, highlight the diversity within your workforce to crack the success deal over time. 

    1. Conveys your brand value

    Preferences of modern job seekers are changing, and they no more accept a job offer just based on the finances offered. In fact, they look for a company’s reputation and the brand built around its mission, vision, and aims. Therefore, you must muster all your resources and efforts to convey the right message to the audience. Unarguable, the market belongs to top talent that isn’t ready to work for organisations with bad reputations.

    Final Words

    Employer branding encompasses much more than merely attracting job seekers for recruitment purposes. Your organisation’s success journey can be either exciting or terrifying. The latter scenario usually occurs when you don’t prioritise employer branding. However, the HR space around you has adapted to the changing environment, which is making employer branding important. This year is the perfect time to showcase what your organisation is and how it is better than others. 

    Needless to say, it doesn’t hurt to develop an employer brand to sustain in a bear market where nothing assures continued employee engagement & retention. 

    Contact us to source and place the most competent candidates within your organisation. We are experienced in delivering Executive Search, Contracting, Recruitment Process Outsourcing (RPO), and Human Resources Outsourcing services to multi-national and domestic firms.

    We have provided companies with over 5000 successful mid-to-high-end talent worldwide in recent years. The sectors we serve are: 

    1. Accounting & Finance
    2. Energy 
    3. Financial Services
    4. Government & Public Healthcare 
    5. Human Resources
    6. Legal
    7. Sales, Marketing & Digital
    8. Supply Chain & Procurement
    9. Technology
    10. Executive Search