4 Reasons Why Your Talent Brand Matters

employer-brandingThere’s been a lot of talk lately in the HR and talent acquisition communities about the critical role that talent branding plays in the quest for top candidates. And for good reason – 75 percent of global talent acquisition leaders agree that a company’s talent brand can have a significant impact on their ability to hire great talent. While a strong talent brand is credited with reducing cost-per-hire by more than 50%, it can actually do so much more. By incorporating the values, attributes and opinions of employees, your company’s talent brand can help you attract top tier candidates in a crowded talent market as well as improve the retention and engagement of your current employees.

If you’re still on the fence about why your company’s talent brand matters, we’ve got four more reasons why you should focus on establishing your talent brand:

1. Talent branding helps engage passive candidates

The holy grail of candidates according to most companies, passive candidates are those highly skilled individuals who are not actually looking for a job right now. Since they comprise nearly 80% of the workforce, finding and attracting passive candidates should be central to your recruiting efforts.

The good news is, with a strong talent brand, you have the key to engaging these individuals and generating interest in your company and your job openings. In fact, according to LinkedIn Talent Solutions research, a strong talent brand increases response rates to recruiter messages, helps to attract 50% more applicants to the job and can result in three times as many hires found through the LinkedIn platform. By positioning your company as a compelling, rewarding place to work, you can give yourself an edge over the competition in your search for talented candidates.

2. Talent branding influences the retention of current talent

An effective talent brand does more than just help you attract the right talent – it also helps you keep them once they’re in the door. Your talent branding efforts can help ensure that the promises you made during the recruitment phase are fulfilled throughout the rest of the employee life cycle. By being clear from the outset about what new hires can expect from your company, you avoid the potential for mismatches that can result in increased turnover. 

And, turnover has a dramatic effect on a company’s bottom line – some estimates put it at more than double the initial salary. So finding ways to increase retention of top talent, especially for those specialized, hard-to-recruit roles, can have a significant financial impact for businesses. According to recent research, companies with a stronger talent brand have a 28% lower turnover rate than companies with a weaker one.

3. Talent branding generates more referrals from employees

When employees enjoy working for a company, they’re happy to tell friends and colleagues about their experience. Talent branding makes this easier by providing multiple methods for employees to easily share the latest news, reports and job openings within your company.

Since most employees are using social media regularly, you can encourage them to actively take part in representing your brand. If you have an employee referral program, be sure to highlight that as an incentive for employees to talk up your company. As a result, your company brand becomes more humanized and your recruiting efforts become more successful.

4. Talent branding gives you more control over your organization’s public reputation

The rise in employer review sites like Glassdoor and CareerBliss means that former employees now have an easier way to vent their frustrations about a company. When it comes to employees that were fired or laid off, 38 percent tend to post negative reviews of their former employer online.

Having a strong talent brand can help you combat any less-than-stellar reviews that former employees make about your company. By encouraging satisfied employees to share their experiences as well, you can offset negative comments with the personal stories of happy staffers.

According to LinkedIn, “Talent brand is what talent thinks, feels and shares about your company as a place to work.” By focusing on establishing a successful talent brand, you can ensure that your company and its brand are positioned to take advantage of the key benefits like talent attraction, employee retention, cost savings and time efficiencies that talent branding has to offer.

Learn how to build and market your talent brand in our eBook, below!

Talent Brand eBook

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Talent Brand