The modern business world is not just contending for the hearts and minds of its consumers; the global adversaries are also contending for the best possible employee.
While the product brand, or external branding, plays a pivotal role in the growth of a company, it is the employer brand, or internal branding, that will be the driving force behind success.
Companies need a strong employee collective to create, manage, and drive the brand towards success, and even though there are plenty of skillful employees, a company with a concrete growth strategy will aim to acquire only the best.
Here is why you should measure your brand equity and how to do it efficiently.
Evaluating your standing in the job market
Prospective employees are not the only ones that need to build their market value and reputation – brands need to do so as well.
You can be certain that the employee you have your eye on also has an eye on your company, and ten other companies for that matter, looking at your growth potential as well as their personal growth potential on top of that.
As an employer brand, your company has a lot to prove to your future employee. After all, that person is going to be one of the key players in building your success.
Much like winning the hearts and minds of your consumers, your future employee needs to feel welcome and as part of your family, so evaluating your brand’s potential for establishing a trusting relationship is a great way to ensure that your message reaches the right people.
Assess your brand awareness
Branding is a delicate science as much as it is a contemporary art form.
Not only do you need to measure and analyze, but you also need to know what people want, what they dream about and ultimately, what they need. Is your brand sending the right signals?
For example, your brand might be sending a clear message that it can be trusted and that individual career growth is encouraged.
However, if the prospective employee needs to feel respected for their time and effort on top of that, they will choose an employer who offers those kinds of benefits as well.
This is where desire trumps necessity, and you want your brand to be not only a place where an employee can grow their career, but also a place where they can be valued and where their voices can be heard.
Which leads us to the next step – resonating with the right audience.
Attract the right people
Fortunately, you have plenty of powerful tools at your disposal for attracting the right workforce to join your cause and pave the road to success. First of all, you need internal brand ambassadors.
Simply put, your existing employees can be satisfied with your company and spread the word of your worth, or they can be dissatisfied and potentially harm your standing in the competitive market.
The need to satisfy your employees reaches far beyond the mere workplace performance.
Rather, it is aimed towards painting a picture of your brand that other prospective employees will want to be a part of.
Next, you need to assess the value of your employer brand internally and externally, in order to gather invaluable information about your strengths and weaknesses.
One of the best ways to do so is through paid surveys where your existing employees will have a chance to anonymously share their opinion of your brand.
Similarly, your target employee audience would also get the chance to participate in a survey that will increase your brand value, thus attracting the perfect candidate.
Finally, attracting the perfect employee requires you to define your brand’s mission, vision, and most importantly, it’s no BS policy.
While a young, aspiring individual is looking to build a career doing work that truly matters, your brand’s goals alone are not enough to make them choose you for the long haul.
Customers might be swayed by storytelling worthy of a Pulitzer and a pat on the back, but your employees need to know exactly what they’re getting into.
Therefore, you need to build your brand reputation on concrete actions as well as promises. Remember, establish a rapport with your existing cadre, and you will easily attract aspiring professionals as well as make a name for your brand in the competitive market.
Measuring and ensuring your brand equity as an employer is of the utmost importance in the modern world.
Fortunately, you can easily gather all the information needed for creating a positive employer image and leading your brand into a successful future.