69% of job seekers wouldn’t take a role with a company that has a bad reputation, even if they were unemployed.
This is an important statistic to remember as businesses begin to operate increasingly in a reputation economy. A nationwide culture in which decisions and opinions are formed off the back of an organisations reputation. The decisions that business makes, the content they share on their social media, the charities they support and the people they employ; these all add up to a public perception which (in the age of the internet) can swing from positive to negative in as little as an hour.
With a simple Google search, candidates can have hundreds of thousands of results at their fingertips in less than a second. They want to know the basics, like company history, size and locations, but they also want to find out what the culture is like, the opportunities for development, the employee incentives.
Recruiting is no different. The hiring process is becoming more and more driven by connections, culture and reputation – and reputation is what matters most.
84% would consider leaving their current job if they were offered another role by a business with an excellent reputation.
For a business looking to bring on a new member of staff, that reputation is also known as their employer brand. This doesn’t necessarily refer to a glossy brochure, an expensive marketing campaign or a fancy new job site; it’s what a businesses’ existing and ex-employees say about what it’s like to work there.
This is important now more than ever as this information is all readily available to potential candidates. Whether it is found on social media, personal blog sites, or websites like Glassdoor, the internet is replacing word of mouth as a trusted source of information about a potential employer.
Bill Richards, UK Managing Director of Indeed said, “The vast majority of British jobseekers deem it essential to research a company’s reputation before applying for a job. Name recognition remains vital, with only one in nine candidates deeming it unimportant. More than half of jobseekers automatically distrust a company with no internet presence.”
Only 23% of job seekers are willing to overlook a negative online reputation when searching for a new role.
But before you can begin managing your reputation, you need to have a good idea about what your current reputation actually is. What your existing employees are saying about you is important, but what your past employees are saying about you matters most. If your business has its own profile on Glassdoor, this is a great way to look at what some of your ex-employees thought about their time with your business.
Do your own internal research and find out what response you are getting from current and previous employees. Good or bad, you need to know.
Take a look at the comments on your social media posts, Google your company name, and especially check-out Glassdoor to see what’s being said about your company. When you have a clear idea about where your current reputation stands, you can begin strategising your plan for attracting top talent from there.
Employers should embrace the new culture of transparency and seize every opportunity they can to begin sharing their stories online and building their employer brands.
How can this be done? Well, each employer’s brand will differ depending on the business and culture of each individual organisation. Highlighting how you empower employees to fulfil their own goals and aspirations is also key. The jobseekers of 2019 want jobs that provide meaning as well as a salary. Employer brand isn’t about pool tables and free Starbucks. It’s about what your employees say about you how you live up to your employer responsibility.
In an increasingly competitive market, with recruiters frequently finding candidates with multiple options, it is the corporate reputation that will sway the candidate’s final decision.