As we begin a brand-new year, many Australians are looking to make changes in their lives, including reinventing or revaluating themselves professionally. Beyond the “new year new me” phenomenon, we’re seeing a trend of high job mobility – with Australians both job hopping and job switching.
According to the Australian Bureau of Statistics (ABS) (2022)*, 1.3 million people (or 9.5% of employed people) changed jobs in the year ending February 2022, establishing the highest job mobility since 2012.
Now, what does all this mean for you and your business? In short, your employer brand matters.
What exactly is employer branding?
Well, your employer brand is how you’re perceived by your current and potential employees, as well as the wider workforce. Therefore, your employer branding encompasses all the positioning you do as an organisation to hopefully become an employer of choice.
It’s important to note that even if you’re not actively working on your employer brand – you’ve got one. That’s why there’s no better time than the present to start making it a priority.
Why is it so important?
Strong employer branding is the most significant factor in attracting and retaining quality employees. By positioning a company as a desirable place to work, an effective branding strategy can positively impact the recruitment of new employees, retention of the current workforce, and the overall perception of an organisation in the market.
Remember, your branding is your company’s “front cover”, for which current and potential employees will compare you against all your competitors. With a recent McKinsey article revealing that 41% of Australian workers said they might leave their jobs in the near future, it’s time to ask yourself – is your current branding enough?
Where do I even begin?
To build a strong employer brand, you need to ask yourself some important questions. First and foremost, are you a good employer? Factors such as a good work-life balance and business satisfaction are some of the key indicators that workers consider when job hunting. This contributes to your employer value proposition (EVP), which is your organisation’s employment offerings. Are you keeping an eye on your competitors to see how your EVP stacks up?
Employees will no doubt be aware of the market, so it’s important to keep track of it. If you are a good employer, are you promoting your EVP adequately? Leveraging social media platforms, such as LinkedIn, in your strategy will connect your brand with candidates on a deeper level. Gaining media coverage will also be instrumental in raising awareness around your businesses’ benefits and changes, ensuring transparency and greater brand positioning.
*Australian Bureau of Statistics (February 2022), Job mobility, ABS Website, accessed 9 January 2023.