Measuring the Effectiveness of Your Employer Brand
A compelling #employerbrand can give any company an invaluable edge. We know that. But simply investing in EB doesn’t guarantee meaningful impact. To get it right, testing and learning is crucial. In this latest article by #EmployerBrandwagon, I’ve joined 12 Employer Brand leaders to share my learnings about measuring the effectiveness of an employer brand.
A compelling employer brand can give your organisation an invaluable edge in the war for talent — of that there’s no doubt. But simply investing in employer branding activities doesn’t guarantee a meaningful impact.
To get EB right — to find the unique formula that works for your organisation and resonates with your key talent segments — is a journey of testing and learning. So what should you be tracking to measure and improve your employer branding ROI?
What is the trickiest thing about measuring employer branding ROI? And how do you tackle that?
The biggest thorn is not to measure ROI but to communicate efficiency in our results in a way that is simple and impactful to the business. It is an ongoing and iterative journey identifying what success means to our leaders.
So far our employer branding initiatives have helped our Talent Acquisition team and Employee Experience program drive higher engagement across the company at a global level.
Instead of defining “generic KPIs”, we create a living dashboard to guide us in making strategic decisions that we can tailor for each leader. We usually start with a template to better understand our audience (internal clients) and provide insights so that we can get the buy-in to invest in the right employer branding initiatives.
What are some of the KPIs you track to measure employer branding success?
Attracting the right candidates:
- Career website traffic (user behaviour, page views, bounce rate, sources)
- Job offers (acceptance rate %)
- Candidate experience (NPS)
- Hiring process score (NPS)
- Time to hire (below 30 days)
- ATS metrics (volume, quality)
- Quality of hire (includes hiring manager performance review, candidate profile fit, average bonus, employee lifetime value, retention on critical roles)
- Conversion (cost per hire, cost per application, application conversion rate)
Retention and engagement:
- Employee referrals (%)
- Employer review sites like Indeed and Glassdoor
- Social channels (likes, shares, mentions, comments, CTR)
- New hire retention rate
- Talent network and community growth
- Internal ambassador program (volume of blogs, traffic)
- Employee experience score (NPS, Qualtrics)
- Awards
Impact of our business initiatives (based on specific business segment KPIs):
- Hiring manager surveys (every quarter, NPS score)
- Hiring the right profile (time to hire, days)
- Increase diversity (hiring practice, award, internal ERG and communication initiatives)
- Increase internal awareness
Check out our 13 voices here https://bit.ly/35rZRO9, and let us know — what KPIs do you use to track employer brand ROI?
