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As per the US Department of Labor, a bad hire can cost up to 30 percent of the employee’s first-year salary. Employer branding can make the talent hunt easier and less costly.
Fremont, CA: Employer branding refers to the practice of defining, developing, and maintaining a company’s reputation as an employer. Candidates want to work at a company that is well-reputed in the market. Building a strong employer brand would make it easier for organizations to attract and retain talented candidates.
Let us look at how employer branding is important for businesses:
Finding job candidates requires energy, time, and resources. Hiring the wrong person can be costly for organizations, leading to serious losses. As per the US Department of Labor, a bad hire can cost up to 30 percent of the employee’s first-year salary. Employer branding can make the talent hunt easier and less costly. When a company is transparent about its mission, vision, and culture, they are likely to attract the right set of candidates.
Retaining employees is as important as attracting them. Employee turnover can affect a company’s growth. A strong employer brand is like a safeguard. If a company can maintain its good reputation, it will automatically see less turnover.
The more a company invests in creating a healthy, strong culture, the happier your employees will be. Employer branding gives people a sense of purpose, a supportive work environment, and a value system they connect with. This makes people more invested, engaged, and productive, which drives them towards success.
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