In the world of HR, Employer Branding activities are becoming more and more developed. Employers around the world become more aware that having a strong brand not only for your consumers, but also for your candidates supports attracting the top quality talents on the market, and what’s even more important – make them stay for longer within the company.
Although the importance of having a strong Employer Brand is increasing, there’s still a lot of uncertainties on this topic. How can one measure the Employer Brand strength and performance? What metrics and key performance indicators are the most important? What data to gather and how to analyse it? Let’s try to answer these questions.
Strong Employer Brand drives ROI
Multiple research results have proved that having a strong Employer Brand can decrease candidates’ remuneration expectations by 10%, boost employee engagement and productivity by 44% and reduce turnover by 26%. These results for an average company, hiring around 10 thousand people means up to 7 mln USD savings! The potential of Employer Branding is impossible to ignore these days.
Employer Brand in numbers
How many metrics and processes influence your Employer Brand? According to Employer Branding Institute research there’s over 520 metrics to track and over 250 organisational processes that shape the Employer Brand. Overall, we are big fans of data analysis and promoters of People Analytics discipline, which brings science, big data analysis and statistics into Human Resources world.
The People Analytics or HR analytics approach encourages you to monitor, measure and analyse the data of HR related processes, tools and activities, in order to make it maximally efficient in terms of human capital management. Combined with Artificial Intelligence and automation it can benefit not only the HR performance, but the entire organisation.
The secret sauce behind
The methodology that we used is based on the concept of Talent Journey. Yes, if you thought it resembles the marketing Buyer’s Journey you are absolutely correct. The concept of Talent Journey is combined of two parts – the candidate’s path and the employee’s path, each divided into four steps, starting from the candidate’s brand awareness, through the decision of applying, being hired, by being loyal and engaged in an employer brand activities to recommending the employer to friends.
HR Technology and Tools
Today’s world is talking a lot about the AI, big data analysis, algorithms, robotics, augmented reality, machine learning and other fancy words coming to business with huge steps. What does it mean for HR? The common opinion is that business process automation will reduce the vacancies, but take a look at history and the industrial revolution times, did fast and massive development of production machines and structures leave masses unemployed?
Contrariwise, it has driven the economy! Therefore there’s nothing to be worried also about Artificial Intelligence. Perhaps the repetitive, boring processes will be replaced, but it will drive the workers to be more creative and learn the more interesting stuff.
To the point, today more and more HR Technology applications and tools are being invented in order to make HR life easier. We can divide them into two types:
- Employee oriented – applications to automate the workforce activities, e. g. time management, process management, communication, etc.
- HR oriented – applications to support the recruitment and HR management, e. g. applicant tracking systems, automated referral tools, well-being apps, etc.
Employer Brand Audit with one tool
For over ten years of experience with employer branding strategy projects we have identified a set of processes that influence and construct your strong employer brand. We managed to create a series of algorithms that analyse them, benchmark to the best EB practices and give you tailored strategic recommendations. All of that, adjusted to your result on each stage of the Talent Journey.
We have packed our knowledge in an online, beautiful and user-friendly platform called EBnavi. It gives you the opportunity to measure and develop Employer Branding processes to HR departments all over the world. And it’s available 24/7. EBnavi algorithms analyse the organisation’s data, provided by HR, which means over 500 metrics and 250 processes mentioned above.
This amount of raw data for a human being is simply too hard to process manually. The tool additionally benchmarks the brand’s results to the best practices on the market. It also gives you a set of expert recommendations tailored to your brand’s audit results. The strategic report you receive, enables you to work on improvement in crucial areas. But most importantly, it gives you the operational tips how to do it.
One more thing, normally the process of creating a strategy lasts from three to six months, when conducted by a business unit responsible for it (according to research mainly HR, but not only), or consultants. How fast the algorithm can do it when data is provided? Immediately. HR Technology is made to simplify life, automate the activities that can be automated within HR processes.
To find out more, head over to EBnavi.
To join other HR/EB analytic enthusiasts head here.