How Employer Branding Helps In Employee Wellness And Retention
When talked about corporate wellness, we think about various insurance schemes, mental wellness programs, health policies, etc, but apart from these, employer branding can also be possible way towards employees' wellbeing.
Employer branding represents a company's effort to promote, both inside and outside of the organisation, a clear vision of what makes it different and desirable as an employer. In recent years, employer branding has become popular among practicing managers. The importance of employee perception management has given rise to the modern concept of employer branding.
Maria Rajesh, CHRO, Embassy Group said, "Employer branding plays a significant role not just in aiding the wellness of employees but also positioning the company as a desirable place to work, which can attract and retain top talent. Additionally, a company that prioritises employee wellness through its branding efforts is likely to have policies and programmes in place that support the physical, emotional, and mental well-being of its employees. This can lead to a more engaged and productive workforce, which can ultimately benefit the company as a whole."
"Employer branding is essentially how a company markets itself to desired and potential employees. It is emerging as the most effective tool for talent management across the entire employment cycle in today's corporate world. It not only helps to define the organisation's external image, but it also helps to retain and satisfy stakeholder groups, particularly employees who are critical to the business's goals," said Richa Telang, Founder and CEO of TrueBlue Advisory.
Employer Branding and Hiring
Telang said, "Some of the key reasons why employer branding is important and necessary are because it helps in recruiting new employees and retaining the existing ones, the engagement of employees is improved, and builds a better brand name in the crowded industry competition."
Employer branding is an important part of hiring that is often overlooked, but it can have a huge impact on your company's workforce. That's important for all businesses, not just those that must find talented employees in tight labor market conditions because all companies want to hire the best candidates they can.
Vikrant Gupta, Head of People, apna.co said, "A robust employee value proposition can help recruiters bring in and retain the right employees in a competitive work environment. Creating a unique experience by providing flexibility for their work environment, helping in their career journeys, with a people-first strategy will also provide a major fillip to the recruitment sector. Employer branding can also tremendously reduce the overall time and cost to fill positions, and also help build credibility with potential employees."
As a good brand always attract customers, similarly employer branding helps in attracting talents which can later help in the growth of the organisation's work and culture.
Employer Branding and Retention
According to a research by LinkedIn, a strong employer brand can reduce an organisation's revenue by 28 per cent, reduce recruitment costs by 50 per cent, and generate 50 per cent more qualified candidates.
Rajesh said, "With organisations across the country and globally facing workforce disruption at an unprecedented scale and speed, work-life balance has become a key differentiator for potential employees. Employee assistance programmes are no longer limited to only covering medical insurance, with organisations increasingly prioritising psychological safety and optimising employee well-being. Wellbeing must be an essential and authentic part of the employer brand."
With organisations having no branding, retaining employees become tough. Experts believe that retaining old employees is worthy than hiring new candidates and training them from the start. Starting with new hirings make the employer run back from other competitors as it causes much time consumption and low productivity. Employer brand is maintained by a good management, employee wellness at every aspect, and better leads or managers. This makes the employees become the organisation's ambassadors. Their relaxed and carefree experience in an organisation spreads to others, such as clients and customers.
Telang said, "Employer branding practices that are strong create a healthy work environment that fosters positive attitudes among employees, thereby increasing the organisation's productivity. As a result, good employer branding serves as a catalyst for organisational growth and aids in the maintenance of a healthy environment at the workplace."
However, experts believe that employer branding also assists in productivity of an employee. Priyam Divgi, Head - Corporate Communications of Wakefit.co said, "As employees increasingly become vital stakeholders in the overall growth of the business, employer branding has taken center stage. It now acts as a binding force that defines the fabric of the organisation. Policies such as the Right to Nap and No Questions Asked wellness leave policy help our workforce take a step back from the constant work pressures, ultimately resulting in higher productivity during working hours. These initiatives collectively create a sense of belonging to the workplace that goes beyond KRAs and helps people push boundaries at work for the common good."
