Do you know that 50% of candidates would not work for a company with a bad reputation, even for a pay increase?
This statistic clearly emphasizes the importance of employer branding in attracting top talent to your workforce.
The company’s employer brand is its identity and reputation to prospective and current employees. The stronger and more positive your brand reputation is, the more talent will want to work for your organization. On the other hand, if you have a poor branding strategy, you will face a tough time closing your job positions.
But how will you measure and track your employer branding?
To receive the most relevant information, you must gather and evaluate the most relevant data while avoiding irrelevant data.
That is why it is important to track the right employer branding metrics.
Here are 10 employer branding metrics that help you measure the effectiveness and strength of your employer brand.
- Employee Net Promoter Score (eNPS)
An employee net promoter score is a valuable metric for measuring employer branding and employee satisfaction. It assesses how likely employees are to recommend their organization as a place to work.
To calculate Employee NPS, employees are typically asked a simple question: “On a scale of 0-10, how likely are you to recommend our organization as a place to work?”
Based on their responses, employees are categorized into three groups:
- Promoters (9-10): Employees that gave a score of 9 and 10, which means they are happy and satisfied with your company.
- Passives (7-8): Employees that gave a score of 7 and 8, which means either they’ll promote the company or say something bad about it.
- Detractors (0-6): Employees that gave a score between 0 to 6, which means they are dissatisfied and unhappy with the company.
The eNPS score is determined by subtracting the percentage of Detractors from the percentage of Promoters.
A higher eNPS score suggests that employees are highly satisfied and engaged with your company. They are more likely to actively promote the organization as an employer of choice.
An employee net promoter score helps identify areas for improvement within the organization. By analyzing the responses of detractors and soliciting feedback from employees, organizations can uncover pain points. They can also address underlying issues that may be affecting the employer brand.
Pro Tip:
To make the most of eNPS as an employer branding metric, organizations should ensure that the survey is conducted regularly. It is essential to communicate survey results to employees and act based on the feedback received. Share the overall eNPS score, highlight areas of strength, and address concerns or suggestions raised by employees. This demonstrates transparency, shows that their opinions are valued, and fosters a culture of continuous improvement.
- Employee Referral
Employee referral is a metric that measures the number of candidates referred to an organization by its existing employees. It serves as an indicator of the strength of the employer brand and the level of employee satisfaction. Studying your employee referral program can help you understand if your employees are happy with your organization and willing to advocate for you.
A high employee referral rate suggests that employees are engaged and proud to recommend their organization as a great place to work.
A LinkedIn report also suggests candidates trust a company’s employees 3 times more than the company itself to provide credible information on the working environment.
Pro tip: Encourage and incentivize employees to refer qualified candidates through referral programs, rewards, and recognition. This helps create a strong network of brand advocates who can attract top talent.
- Cost Per Hire
Cost per hire is a metric that calculates the total expenses incurred in the recruitment process, including advertising, recruitment software, and interviewing costs. It helps organizations assess the efficiency and cost-effectiveness of their recruitment efforts, which indirectly reflects the impact of employer branding.
A low cost per hire can indicate that the employer brand is strong and appealing. It attracts a large pool of qualified candidates who are more likely to accept job offers. It ultimately reduces the need for expensive recruitment channels or agencies.
On the other hand, a high cost per hire may indicate challenges in attracting suitable candidates and converting them into hires. It could be a sign of a poorly communicated employer brand. It results in increased recruitment costs due to extended hiring processes, reliance on expensive channels, or high turnover rates.
Pro tip:
Strengthening your employer brand can lead to lowering your cost per hire. For example, companies wi th a poor reputation must offer higher salaries than companies with a strong employer brand. On the other hand, a strong employer brand can lead to a decrease in cost-per- and even half the time it takes to hire.
- Career Page Analytics
Career page analytics involves tracking and analyzing data related to an organization’s careers page, such as visitor traffic, time spent on the page, conversion rates, and application completion rates. These analytics provide insights into the effectiveness of the employer brand in attracting and engaging potential candidates. By analyzing career page data, organizations can identify areas for improvement and optimize their career page to enhance candidate experience.
Pro tip:
Optimize the career page with compelling content, clear job descriptions, and user-friendly design. Use A/B testing to experiment with different layouts and messaging to maximize candidate interest and conversions.
- Employer Brand Index
The employer brand index is a metric that measures the overall perception and reputation of an organization as an employer. It takes into account factors such as brand awareness, attractiveness, differentiation, and competitiveness compared to other employers. The index provides a holistic view of how the organization is perceived by current employees, potential candidates, and external stakeholders.
The Employer Brand Index typically consists of a series of measurements and evaluations that aim to gauge the overall attractiveness of an employer brand. These metrics may include:
- Brand Awareness
- Perception of Company Culture
- Employer Reputation
- Employee Engagement
- Talent Attraction and Retention
- Candidate Experience
A higher employer brand index indicates a strong and desirable employer brand that attracts top talent and enhances the organization’s reputation.
By measuring these employer branding metrics, organizations can gain insights into their strengths and areas for improvement. This information helps refine recruitment efforts and shape employer branding initiatives to enhance their reputation and attractiveness as an employer.
Pro tip:
Conduct regular employer brand surveys to gauge perceptions, analyze market trends, align internal practices with brand values, and actively manage the employer brand to enhance the employer brand index.
- Glassdoor Interview Experience
Glassdoor interview experience is a metric that reflects the feedback and ratings provided by candidates regarding their interview process with the organization. It offers insights into the candidate’s experience, employer brand perception, and areas for improvement in the hiring process. By monitoring and analyzing Glassdoor interview reviews, organizations can identify strengths and weaknesses in their interview process, make necessary improvements, and enhance their employer brand reputation.
Source: https://www.glassdoor.co.in/Overview/Working-at-TalentPool-EI_IE1464155.11,21.html
Pro tip:
Prioritize a positive and respectful candidate experience and provide clear communication throughout the process. You can also seek feedback from candidates and use the feedback to continuously improve the interview experience and enhance the employer’s brand reputation.
- Offer Acceptance Rate
The offer acceptance rate measures the percentage of job offers extended by the organization that candidates accept. It indicates the employer brand’s attractiveness and the recruitment process’s effectiveness.
A high offer acceptance rate suggests that candidates perceive the organization as an appealing place to work and that the recruitment process is well-managed.
A low acceptance rate may indicate issues with the employer’s brand, compensation, or other aspects of the offer.
Pro tip:
Ensure competitive compensation packages, clearly communicate the organization’s unique value proposition and provide a positive and seamless candidate experience. Try to actively engage with candidates to increase the offer acceptance rate.
- Social Engagement
Social engagement is an important metric used to measure the effectiveness of an organization’s employer brand. It refers to the level of interaction, engagement, and awareness generated by an organization’s activities on social media platforms. These platforms are LinkedIn, Facebook, Twitter, Instagram, and others. Social engagement metrics provide insights into how well the organization is perceived and how effectively it communicates its employer brand to its target audience.
For instance, tracking the number of followers across social media platforms indicates the level of interest and engagement in the organization’s brand. Increasing followers over time demonstrates a growing awareness and positive perception of the employer brand.
Pro tip:
Consistently share relevant and engaging content and actively interact with followers. Try to encourage employee advocacy on social media and use analytics to identify trends. Optimize social media strategies to increase follower count and enhance brand visibility.
- Quality Of Hire
Quality of hire is the value a new hire adds to your company. It is based on how much they contribute to your organization’s long-term success in terms of their performance and tenure. The minimum baseline for a quality hire is that the value a person creates while employed at your company is greater than the cost of recruiting them.
By measuring the quality of hire, organizations can assess the effectiveness of their selection processes and the impact of their employer brand on attracting high-quality candidates who contribute positively to the organization.
Pro tip:
Develop comprehensive job descriptions, utilize targeted sourcing strategies, and implement rigorous screening processes. Track employee performance metrics to attract and retain high-quality candidates who align with the organization’s needs.
- Number of Open Applications
While this may not seem like a metric worth tracking, it is really helpful to track the number of candidates who apply for open roles. By adding this option to your career site, you can be sure that people who sent in an open application know your employer brand.
Studying the number of applications will also help you gain an understanding of how visible your company is as an employer. If you focus on building a strong employer brand and then begin to notice an uptick in the number of open applications coming in, you are probably on the right track.
Conclusion
Tracking the correct employer branding KPIs is critical in today’s competitive job market to recruit and retain top employees. You may make data-informed decisions and improve your recruitment strategy by monitoring the success of your employer brand.
Hopefully, you now have a clearer idea of what employer branding metrics are to optimize your campaigns and content, attract more talent, and prove your impact on leadership.
