How do you measure the effectiveness of your Employer Brand? 5 KPIs That Actually Measure Your Employer Brand’s Success
When it comes to the world of Employer Branding, questions often arise on how to measure the success of your Employer Brand and Employer Value proposition. Although there are many ways to measure this success, in the below article we will highlight a few KPIs that are extremely beneficial in measuring the effectiveness of your employer branding efforts.
Here are some of the most important KPIs to consider when measuring the success of your employer brand and EVP:
Employee engagement is one of the most critical metrics for measuring the effectiveness of your employer brand and EVP. Numerous methods, such as employee surveys, feedback sessions, and turnover rates, can be used to measure this metric. You can gauge how well your employees are reacting to your brand and EVP, if it resonates with them, and if they feel aligned with the messages you are trying to convey. If employees are connected and devoted to your company’s goal and values, there is a great chance the employee engagement is high. Not only is this an important metric, but the benefits of highly engaged employees is something that all companies should be aware of.
The candidate experience is yet another crucial KPI to take into account when assessing the effectiveness of your employer brand and EVP. In addition to measurements like time-to-hire and offer acceptance rates, valuable data can also be discovered in applicant feedback and surveys. You can determine whether you are recruiting the right people to your organization and how effectively your brand and EVP are resonating with potential employees by monitoring the applicant experience. Another reason measuring this is so important is because you will likely always need to hire people! Parental leaves, employees leaving, company growth, and many other factors can contribute to needing to hire more employees. If you have a reputation for bad candidate experience, the impacts can be detrimental and result in a very weak candidate pool. Measure the candidate experience and ask first-hand how their process went. Remember, even if they weren’t selected for that specific role, if your employer brand and EVP resonate with that candidate, they are likely to reapply should new roles open. Ensure the candidate experience is pleasant and smooth to ensure re-apply rates remain high.
Social media engagement:
Social media is an important tool for building your employer brand and promoting your EVP. By measuring social media engagement, you can get a sense of how well your messaging is resonating with your audience, as well as how effective your social media campaigns are in driving engagement and attracting new followers.
However, with social media being used as a tool to promote your employer brand and EVP, keep in mind some best practices such as developing a consistent brand voice and messaging across all social media platforms, highlighting employees who embody your brand values and culture by featuring them in your social media content (thus encouraging others to want to join the team), encouraging employees to share their positive experiences about the company on their social media channels, promoting job openings and encouraging potential candidates to apply, and actively engaging with followers.
KPIs for the above can include social media engagement rate, number of followers, click-through rate, shares, mentions, reach, and much more! By measuring these important KPIs you can assess the strength of your social media, and adjust accordingly to ensure you are providing the right message and reaching the right people.
Diversity and inclusion metrics:
Diversity and inclusion is another important KPI to take into account when evaluating the effectiveness of your employer brand and EVP. Numerous metrics, such as employee demographics, retention rates, and promotions, can be used to gauge this metric. By assessing diversity and inclusion, you can determine if you’re fostering an inclusive workplace culture that appreciates and supports all employees as well as how well your brand and EVP are connecting with a varied variety of employees. This is also important because each year in the World’s Most Attractive Employers Survey, Diversity and Inclusion consistently ranks in high priority for what candidates look for in an employer. Can you have an effective employer brand and EVP if you aren’t measuring your impact on D&I?
For many businesses, referrals are a key source of new workers, and they can serve as an effective gauge of the strength of your employer brand and EVP. You can determine how effectively your workers are pushing your brand and EVP to their networks by analysing referral rates. You can also determine whether potential candidates who are not currently part of your staff base are responding favourably to your brand. Need an extra incentive for referrals? Consider things like extra vacation days, monetary incentives, or a paid lunch as a thank you for the referral!
Evaluating your employer brand’s and EVP’s performance is essential for developing a solid staff that is interested in their job, luring top talent, and fostering a healthy workplace culture. You can gain important insights into the efficacy of your brand and EVP by monitoring KPIs like employee engagement, candidate experience, social media engagement, diversity and inclusion metrics, referral rates, and employer brand awareness. You can then use this information to make data-driven decisions to increase the success of your organization as a whole.
Do you wish to better understand your brand image, audience and competitors?
Every year Universum surveys over 1 million students and professionals worldwide to identify the brand image status of the most attractive employers. Our Analytics solutions give you the insights you need to win the war for talent.