Some of the hardest business cases to make are the ones where it’s hard to tie the thing you’re going to bat for – like building a strong employer brand – directly back to results.
It’s straightforward, for example, to say that candidate sourcing is a worthwhile investment when you can point to great hires who were sourced. It’s much harder, though, to attribute hires to your employer brand.
If you’re not convinced of the importance of employer brand, or you’re trying to help your team see the light, the following five stats may help make the case.
1. Most job changes are to companies candidates already know.
66% of people who recently changed jobs are aware of the company by the first time they hear about the job.
If a candidate hasn’t heard of you by the time they’re passively open to new opportunities or actively looking for a new job, your chances of recruiting them get a lot lower.
2. Most job seekers these days go online to find information about your company before they apply.
The majority of job seekers read at least six reviews before forming an opinion of a company.
Do you know what your reputation is like online? You may be losing potential candidates without knowing it.
3. Companies with tarnished employer brands have to offer higher salaries as incentives.
45% of 35-44 year olds would leave their current job for less than a 10% pay increase to join an excellent company. In contrast, only 12% of the same group would leave their current job for less than a 10% pay increase to join a company with a bad reputation.
A good reputation pays off – literally. People are willing to accept a smaller pay bump to join a company with a strong brand, and expect more in order to join a company with a poor reputation.
4. A strong employer brand will help you source.
92% of candidates say they would consider leaving their current jobs if a company with an excellent corporate reputation offered them another role.
People are a whole lot more inclined to make a career move when it’s to a company they have strong positive associations with. For companies who source candidates, this can be a huge boon to sourcing effectiveness.
5. The majority of talent experts already see the value in employer brand.
80% of talent leaders agree that employer brand has a significant impact on their ability to hire great talent.
When in doubt, do as the experts do. Talent leaders – the people who are the closest to recruiting strategies – are strongly in agreement that a company’s employer brand can meaningfully help or hurt its overall recruiting efforts.
Investing in your company’s employer brand may not turn around immediate results, but it’s a powerful long-term play. With a strong brand and positive reputation, you’ll supercharge your sourcing results and have a better chance of recruiting top talent at compensation levels you can afford.
For more stats like these, download our list of “The Ultimate Collection of Recruiting Stats to Know in 2017.”