The impact of investment in employer branding
Talent is the bedrock of any business – an organization needs to find and keep the right people in place to achieve its goals and objectives. This is a multi-faceted endeavor that starts from the inside out and is often rooted in employer branding. Studies have shown that a strong employer brand not only creates meaningful impact on your ability to attract and retain talent but can add to your overall revenue as well.
So, you might find yourself asking what an investment in employer branding could mean for your business. Following are statistics on the power of employer branding and an interactive ROI calculator to help you assess the potential value for your organization.
Employer branding impact on talent acquisition and retention
According to LinkedIn’s “Ultimate List of Employer Brand Statistics” a strong employer brand can have profound impact.
- 50% more qualified applicants
- 50% cost-per-hire reduction
- 1-2x faster time to hire
- 75% of job seekers consider an employer’s brand before even applying for a job
- 72% of recruiting leaders worldwide agreed that employer brand has a significant impact on hiring
- 28% reduction in the organization’s turnover
Employer branding can help reduce costly risk and increase bottom line revenue
A strong employer brand can increase employee engagement and reduce turnover
- Recent studies state 40% of employees are considering leaving their jobs1
- U.S. businesses are losing $1 Trillion every year due to voluntary turnover2
- And for those employees that don’t leave, low employee engagement costs companies $450-500 Billion each year3
- Whereas companies with highly engaged workforce are4 21% more profitable
Employer branding begins with understanding the needs and perspectives of your employees
Our Accuiti Employer Brand Diagnostic measures employer brand perception across 8 key areas of primary importance to your workforce. It provides insight into the alignment and misalignment between various employee segments in intuitive, visual displays for comparison and analysis. It’s easy to implement and an effective way to focus your employer brand efforts where they matter most.
Try our Employer Branding ROI Calculator and discover how a strong employer brand could impact your bottom line️:
- McKinsey Report quoted in https://www.cnbc.com/2022/07/20/40percent-of-workers-areconsidering-quitting-their-jobs-soon.html
- https://www.gallup.com/workplace/247391/fixable-problem-costs-businesses-trillion.aspx
- https://www.conference-board.org/topics/dna-of-engagement
- https://www.gallup.com/workplace/236927/employee-engagement-drives-growth.aspx
