Ed Nathanson (featured in a SocialTalent YouTube talk) argues that employer branding is crucial because the power dynamic has shifted to job seekers. Measuring employer brand goes beyond hires to include sentiment, awareness, and long-term brand preference. The speaker cites a Corporate Responsibility magazine survey: 93% of currently employed respondents would leave their company for one with a good reputation, 76% would be unlikely to accept an offer from a company with a bad reputation (even if unemployed), and 33% would accept a lower pay bump for a company with a great reputation. He recommends measuring engagement and sentiment (including hashtag sentiment) as part of employer-brand KPIs.
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Now again, we're starting on a big bold mission. And you're set, you okrs, you set your objectives, you have targets and goals in mind. It's a step back again when you're thinking about measuring to understand the reason and the importance for this. What do I mean by that? Well, I mean that if you look at why employer brand is so big right now, why it's such a big push around the world, is because not only are there more jobs and opportunities than ever before, this is the craziest market I've ever been a part of. But besides that, the power dynamic has shift. People, the job seekers, the candidates are now in a position of strength. The days have gone are when the employers could sit and sit back in their chair of strength and say, yes, you, not you. Yes, you, not you, no. Now the power dynamic has shifted to the applicant. And because the applicant, the job seeker, is in the position of strength, the importance of getting your message in front of them and swinging their attention to you and their desire to work with you, to you becomes bigger and more paramount. For example, Corporate Responsibility magazine recently had a survey and they found that 93% of people currently employed said they would leave their company to work for a company that had a good reputation. The flip side of that is 76% of the people on that same survey said if, even if unemployed, remember that even if unemployed, they'd be unlikely to accept a job offer from a company that had a bad reputation. Reputation matters. There's a reason why so many people go to Glassdoor Profiles and Comparably Profiles and others of that same survey. What I thought was really interesting is that 33% of the people surveyed said they'd be tempted by a lower bump in pay if the offer came from a company with a company with a great reputation. Think about that. I would take less money is what they're saying, to go work for a company that has a great reputation. Now again, there's lots of these stats out there that support employer brand and why it's important. But when you start thinking about measuring and quantifying, sentiment is a huge thing as well that you absolutely can measure. How are people engaging with our brand? You can even measure sentiment of hashtags. There's tools for that out there. This is a baseline. As you're thinking about how do I measure, how do I quantify these results? That you have to understand why we're doing this in the first place, right? It's much more than just hires. It's sentiment. It's brand building it's awareness. It's creating a desire from not just this year, but moving forward year after year after year, positioning your company as an employer of choice.
