Why invest in employer brand? …to compelling ROI
Forget that Great Barrier Reef job, the sexiest jobs in the twenty-first century will be in data science. This was the prediction made by Thomas Davenport and D.J. Patil in the Harvard Business Review. They should know. They’re data scientists. They crunched the numbers and they came out sexy. There’s been a lot of Big Data talk over the last couple of years. It’s been heralded as a management revolution. So what are the implications for employer brand management? Well the simple answer is ‘it’s about time we moved on from short term, cost-obsessed, recruitment metrics to full-cycle, value-adding, performance oriented, employer brand metrics’. Are you with me? In my experience, the pieces are all there. The problem is they are generally scattered around the table, and there are a few missing pieces that need to be retrieved from the floor. The edges may be in place, but there’s still work to be done to piece the rest of the jigsaw together.
Over the next few weeks I’d like to be your metrics jigsaw buddy. ERE.com, Josh Bersin and David Green have done some fine work in figuring out the key ROI metrics for Talent Acquisition, but I’d like to strike out from this recruitment basecamp and complete the rest of the picture. There may be some tricky sections of blue sky to piece together, but hopefully the final, all-encompassing view will be worth the effort.
In summary, recruitment metrics tend to focus on the short-term perspective. (Are your media choices and content decisions generating engagement and applications for a reasonable cost-per-hire?). Employer brand metrics take the long-term view. (Are our recruitment marketing and people management activities helping us to build a strong enough employer brand reputation and employment experience to deliver a lasting performance edge over our leading talent competitors?).
There are four categories of measurement that need to be considered to piece together this full employer brand metrics dashboard and ROI.
- Talent Market Insights. What are the critical factors driving talent market success?
- Marketing Efficiency and Effectiveness. What is the relative cost and value of different communication content, media and talent plays and practices in delivering desired results?
- Brand Reputation and Experience. How are you perceived and experienced by your target audiences and current employees?
- Desired Behaviors and Performance Outcomes. To what degree do current brand perceptions and experiences appear to be driving desired behaviours and business performance?
If you’d like to deepen your knowledge of employer brand management take a look at the up and coming ‘World Class Employer Branding’ course brought to you by employerbrandingacademy.com. You can also check out my latest book – ‘Employer Brand Management – Practical Lessons from the World’s Leading Employers’. Either way – I’d welcome your perspective.