Making the Case for a Dedicated Employer Branding Budget

Tired of using “whatever’s leftover” to execute your talent recruitment marketing strategy? (via Giphy)

By Emily McCrary-Ruiz-Esparza 

It’s not surprising that executive leadership may be apprehensive about allocating budget for employer branding. It’s a discipline that’s not widely understood and most traditional marketing departments aren’t equipped to do it. 

In fact, 70% of organizations say getting enough budget is their number-one challenge in maintaining an employer brand, according to a survey conducted by Employer Brand International. 

Recruiters are supposed to find and hire talent. Done and done, right? 

But you and me, we know there’s more to it. 

If you want to win budget for employer branding, you’re going to need executive buy-in. And if you want executive buy-in, you’re going to need data to build your case. 

Here are the notes you should hit and the numbers to get you there. 

Candidates are paying attention to your reputation as an employer

Plain and simple, candidates are watching your brand, for better or worse. According to LinkedIn, 75% of job seekers will consider an employer’s brand before applying. 

And what they see matters. MRINetwork’s 2018 Brand Reputation Management Survey found 69% of candidates rank employer brand strength as important or very important when evaluating a job offer. 

If you want to attract top talent, you need to put your best foot forward, and an employer branding strategy is the best place to start. 

And so are your customers 

Bad employer branding can have a direct effect on the business’s bottom line: According to Accenture’s 2018 Strategy Global Consumer Pulse Research, 65 percent of consumers say they’re attracted to organizations that treat their employees well. 

Companies with good reputations also stand to make more money. MarketWatch reported on a survey that found consumers are willing to pay as much as 22% more for products if the company has a good reputation—and that reputation includes how it treats employees. 

Plus, if your organization is suffering a high turnover rate (a problem employer branding can address), that attrition can affect customer relationships and chip away at customer retention and profits.

You need to be where the job seekers are 

A great deal of employer branding should take place on social media, because that’s where the job seekers are. According to Glassdoor, 79% of job seekers will use social media in their search. 

And social is also where your competition is recruiting. SHRM says 84% of organizations use social media for recruiting. 

So get out there and compete. 

Your current employees are your best talent ambassadors 

Alright, follow us here: 

Candidates feel that referrals from current employees are the most important means of evaluating employer brands. 

This is supported by the fact that companies with high numbers of employees sharing quality content are 58% more likely to attract talent. 

And employees are stoked to share this content. Fifty-three percent of employees believe it’s important other people want to work for their employer. 

Can we tie this to the bottom line? You betcha. Ninety percent of business leaders see a direct connection between employee engagement and business success. 

Tell them how you’ll measure success 

Like any investor, the C-suite will want to know what kind of returns they can expect. Come prepared with metrics you’ll track to measure your success. 

Most important metrics you likely already track, like number of applicants, quality of applicants, time to hire, cost of hire, retention rate, employee referrals, and recruiting participation rates by current employees (think candidate referrals and social media shares). 

Come to the conversation with baseline (your current numbers), goal (where you want your numbers to be), and time to goal. 

For example, you expect the employer branding campaign will cut time to hire by 20% by June, or you expect the new campaign will reduce turnover rate by 10% over the next 12 months.

Emily McCrary-Ruiz-Esparza writes about workplace culture, DEI, and hiring. Her work has appeared in Fast Company, From Day One, and InHerSight, among others.

Interested in speaking with Uncubed Studios for a media opportunity?

Contact studios@uncubed.com