Video transcript | Improving Your Employer Branding—with Daneal Charney
What is employer branding?
Employer branding is positioning yourself against your competitors for talent, right? It’s answering the question, why should I work for you? Why should I join your organization? Because best talent has choices! So why are they going choose you?
How can a company craft their employer value proposition (EVP)?
Your EVP is your employer value proposition. As a company, you have this unique combination of the impact you make on the world, the interesting work people will do, the recognition you’ve received, your tax stat(us)—so taking that all together and putting that together in a statement of your benefits, benefits employees will receive. And then taking that and weaving it through your job postings, your career page, your interview process and any candidate touch points.
Why should a company invest in their employer branding?
There’s two reasons you should care about employer branding. One of them is companies with a strong EVP are twice as likely to report financial performance significantly above their peers. The second one is in a job offer situation. You’re going pay up to about five thousand more if you have a weak employer brand.
When should a company invest in their employer branding?
Some people ask me what’s the best time to invest in employer branding, because it’s not usually the top of the food chain. So what I would say is, if you’re ramping up your hiring and your hiring is more than 10–20% this year, you should start to invest in employer branding. The other thing is, if you look at your hiring funnel and you’re not getting enough people on the top of the funnel who are qualified candidates, they probably 1) maybe don’t know about you, or (2) are wondering why should they choose you.
How can a company improve their employer branding?
Here are a few steps you can take to improve your employer branding. Start with your candidates. Ask them, what are our strengths? And how do we measure up? How do we compare to our competitors for talent? And do exactly the same thing with your employees. And that will give you some great insights to where you need to improve.
In order to recruit top talent, you need to consider your employer branding. Daneal Charney, Director of Talent at MaRS Discovery District, shares her insights on why you should care about your employer brand and how you can improve it in order to have a competitive edge over other employers.