How to Measure the Impact of Your Employer Branding Efforts on Recruitment
Published on February 5th, 2023
A strong employer brand can differentiate the organization from competitors in the job market. When an organization has a unique and compelling employer brand, it can help the organization stand out from competitors and attract top talent.
Branding has a significant influence on recruitment by attracting top talent, differentiating the organization, improving candidate experience, reducing cost-per-hire, and increasing employee retention. A strong employer brand can help organizations achieve their recruitment goals by creating a positive reputation that resonates with potential candidates.
The reason why candidates prefer working with a strong brand is because a company with a positive brand image may be perceived as stable and reliable, which can be appealing to candidates who value job security. It can also include things like work-life balance, employee development programs, and a focus on diversity and inclusion.
It should also be noted that companies with strong brand images often have the resources to offer competitive compensation and benefits packages to their employees. They're also more likely to have a clear career path for employees, providing opportunities for growth and advancement within the organization.
Given the influence a positive image and healthy branding has on candidates, it's essential that you leverage your goodwill of your employees and customers and position yourself as a trustworthy, genuine, and promising brand where employees can build their future with.
The important thing is, all candidates need to feel and understand the value of your brand and what you stand for. This is possible with direct and indirect branding through the impeccable candidate experience you offer.
Let's first understand where you are in your branding game, to find how to move ahead. In this blog, we'll walk you through the importance of branding in recruitment and how you can measure your branding efforts in your company's recruitment.
Why Should You Prioritize Branding in Recruitment?
When employees feel proud of their employer and are engaged with its mission and culture, they are more likely to stay with the company over the long term, reducing turnover and associated recruitment costs. A well-crafted employer brand can help an organization attract candidates who are a better fit for its culture and values, reducing the risk of hiring mismatches and resulting turnover.
From a candidate perspective, a positive employer brand can make the recruitment process more engaging and enjoyable for candidates, leading to a better overall candidate experience and a more positive perception of the organization.
An established employer brand can reduce the need for costly recruitment marketing and sourcing efforts, as job seekers may already be familiar with the organization and actively seek out its job openings.
Measuring How Branding has Impacted Your Recruitment So Far
Measuring the impact of branding efforts on recruitment can be a challenging task, but it is essential to assess the effectiveness of your employer branding strategy and make data-driven decisions to optimize it. Here are a few metrics and areas you need to measure and monitor to evaluate the extent of branding in your company's recruitment.
1. Candidate Sources
Candidate sources can provide valuable insights into the impact of employer branding in your recruitment. By tracking the sources of your candidates, you can determine which branding efforts are driving the most applicants and assess the effectiveness of your employer branding strategy.
If you are investing in social media as part of your employer branding strategy, tracking the source of candidates can help you understand if your social media efforts are driving candidates. For example, if you are seeing an increase in candidates from LinkedIn or Twitter, it may indicate that your social media strategy is resonating with job seekers.
Employee referrals are a powerful source of candidates and can be an indicator of a strong employer brand. If you have a high number of employee referrals, it may indicate that your employees are proud to work for your organization and are willing to recommend it to their networks.
Your company website can be an important source of candidates, especially if you have a dedicated careers page that showcases your employer brand. Tracking the source of candidates from your website can help you understand if your website is effectively communicating your employer brand to job seekers.
Gather data on the effectiveness of each candidate source in attracting qualified candidates. This can involve tracking the number of applications received from each source and the percentage of candidates who are qualified for the job. Conduct surveys with candidates to measure the impact of employer branding on their decision to apply for the job through a specific source. Ask questions about their perception of the organization's employer brand and how it influenced their decision to apply through a specific source.
Attending recruitment events can be a great way to connect with job seekers and promote your employer brand. If you are seeing an increase in candidates from recruitment events, it may indicate that your employer branding efforts at these events are having an impact.
2. Application Rate
The application rate is an effective way to measure the impact of employer branding in recruitment because it reflects how well your brand resonates with potential job candidates.
When you have a strong employer brand, candidates are more likely to apply for your job openings. They may have a positive perception of your organization, and they may be motivated to work for you because of your values, culture, or reputation. Conversely, if your employer brand is weak, you may receive fewer job applications because candidates may not be attracted to your organization or may not be aware of your brand.
A high application rate can indicate that your employer branding efforts are successful. It suggests that your job postings are compelling and that potential candidates are motivated to apply for your open positions. Additionally, a high application rate can help increase the quality of your candidate pool, giving you more options to choose from when selecting the best candidate for the job.
On the other hand, a low application rate may indicate that your employer branding strategy needs improvement. If you are not receiving many job applications, it may suggest that your job postings are not effectively communicating your employer brand to potential candidates. It could also mean that your organization has a poor reputation or that you are not targeting the right audience.
3. Candidate Quality
Employer branding efforts can have a significant impact on candidate quality in recruitment.
It can attract a higher caliber of candidates. According to LinkedIn's 2019 Global Talent Trends report, 72% of recruiting leaders agree that employer branding has a significant impact on hiring quality candidates. This is because a well-defined employer brand can communicate your organization's values, culture, and mission, attracting candidates who share your vision and are motivated to work for you.
This is because a well-defined employer brand can communicate your organization's values, culture, and mission, attracting candidates who share your vision and are motivated to work for you.
Freshers and experienced professionals of varied calibers, from different walks of life would want to join your team if you're an amicable, growth oriented and promising brand. The best candidates are only available in the job market for 10 days, you can attract them way ahead of others if you have a great name for your brand and offer an exemplary experience to all your stakeholders.
Since most top talent are passive seekers, if you have a stellar brand and approach them to join your team, they're most likely to consider your offer.
Measure the quality of your candidates by their performance in the interviews, and after joining your company. How well do they manage tasks and meet targets?
Do they have what it takes to ace in their role? Assess candidate quality accurately with Hire Quotient's AI-powered, advanced skill Assessments that you can choose from an ocean of assessments tailored to every designation and grade, laser -sharp screening and impeccable candidate insights.
4. Time to Fill
A strong employer brand can attract more candidates to job openings, which can help to reduce the time to fill. Candidates who are attracted to an organization's brand are more likely to apply for job openings and go through the recruitment process. This can help to increase the number of qualified candidates in the applicant pool and reduce the time it takes to find the right candidate.
A shorter time to fill improves the candidate experience, which can help to strengthen the employer brand. Candidates who have a positive experience during the recruitment process are more likely to have a positive perception of the organization and recommend it to others. This can in turn, help to attract more candidates and improve the organization's reputation.
It can also lead to faster hiring decisions, which can help to reduce the time to fill.
A shorter time to fill can also help to reduce the cost-per-hire, which is the total cost of recruiting for a particular position.
Measuring time to fill involves calculating the number of days it takes to fill a job opening from the time it is posted to the time an offer is accepted by a candidate.The first step in measuring time to fill is to define the start and end dates of the recruitment process. The start date is usually the date on which the job opening was posted on the company's career page or other job boards, while the end date is the date on which the candidate accepts the job offer.
Once you have defined the start and end dates, you can calculate the number of days it took to fill the job opening. This can be done by subtracting the start date from the end date. For example, if the job opening was posted on January 1st and the candidate accepted the job offer on February 1st, the time to fill would be 31 days.
If the organization's time to fill is longer than the industry benchmark, you can also look at the employer branding efforts to see if they can be improved to attract more qualified candidates and speed up the recruitment process.
With the help of advanced AI-powered recruitment tools like Hire Quotient, you can massively reduce time to fill and also enhance your company's brand by offering stellar, seamless candidate experience to your candidates, thus positioning yourself as a trustworthy, high quality brand.
5. Offer Acceptance Rate
Measuring the influence of employer branding on offer acceptance rate involves analyzing the correlation between an organization's employer brand and the percentage of job offers that are accepted by candidates.
The next step is to gather data on the organization's offer acceptance rate. This involves tracking the percentage of job offers that are accepted by candidates over a specific period of time, such as a year or a quarter. Conduct surveys to measure the impact of employer branding on offer acceptance rate. You can ask questions about the candidate's perception of the organization's employer brand, and how it influenced their decision to accept or reject the job offer. You can also ask for feedback on the recruitment process and how it affected their perception of the organization's employer brand.
Once you have gathered data on the offer acceptance rate and conducted surveys, you can analyze the data to determine the correlation between the organization's employer brand and the offer acceptance rate. If the data shows that a higher percentage of candidates who have a positive perception of the employer brand accept the job offer, then it is likely that the employer brand is a factor in their decision.
6. Post Onboarding Feedback
Post-onboarding feedback from new joiners can reveal the impact of employer branding efforts in recruitment. It can validate the messaging and content used in employer brand communications. For example, if new joiners consistently mention the same positive attributes of the organization that were highlighted in employer branding efforts, such as strong company culture or opportunities for growth, this suggests that the employer brand messaging resonated with them and was a factor in their decision to join the organization.
This feedback from onboarded candidates can also reveal new joiners' understanding of the organization's company culture. This can include their perception of the company's values, work-life balance, and overall work environment. If new joiners mention positive experiences with company culture that align with the messaging in the employer brand, this suggests that the employer branding efforts accurately represented the organization's culture and values.
Hiring efforts bear the best results only when done with the purpose in mind and using the right messaging. Having a strong brand helps you get the message across to potential candidates. Take your time to do a thorough assessment of branding in your recruitment process. You may want to use a tool like Hire Quotient to ascertain the demographics of your candidates, their credentials, caliber and help you position your strategy to reach out to a diverse set of candidates. If you're tired of using a particular strategy and not seeing tangible results from it, you can use the ROI calculator of Hire Quotient to find out if you need to stick to it or it's time to change your recruitment strategy
You can also set up application rate, time to hire and all other metrics and view results and determine how your brand is positioned, so you can bring in more effective ways to communicate the greatness of the brand you're associated with.
Radhika Sarraf is a content specialist and a woman of many passions who currently works at HireQuotient, a leading recruitment SaaS company. She is a versatile writer with experience in creating compelling articles, blogs, social media posts, and marketing collaterals.
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