Consumer branding is an all powerful presence that surrounds us from the logos on sports shirts or Formula 1 cars to the pictures of cars on winding roads with the roof down and the sun shining we are being pounded with messaging. Whether the messaging is trying to get us to identify with and desire a brand or simply buy the product the investments are significant.
When organisations stop and reflect on the cost of talent and I don't mean those superficial measures of cost per hire etc but the consequences of not hiring the right talent; lower performance, higher attrition, repeatedly filling the same roles, the salaries of poor performing hires. The total value of poor recruitment runs into millions and yet despite this the investment in employer branding is relatively to consumer branding negligible and yet the benefits are there to be seen. the good news is that more and more organisations are seeing the value and starting (only starting) to invest more.
We intuitively know why a strong consumer brand is important—after all, we’re surrounded by brand messages, and they influence the way we value different products and services every day. But organizations have been slower to embrace the concept of an employer brand, despite its proven impact on hiring. However, recent data suggests that the dynamic is finally changing. Employer branding roles have increased in the last decade, and the majority of employers now consider it a key component of their HR strategy. With employer branding becoming mainstream, a new trend has emerged: unifying consumer and employer brands to voice a consistent “brand essence.” “Companies who voice their brand essence consistently reap [the] benefits on talent acquisition and engagement,” said Nellie Peshkov, VP of Talent Acquisition at Netflix, at Talent Connect 2016.