THE EMERGENCE OF EMPLOYER BRANDING IN REAL ESTATE
A compelling employer brand is key to attracting the best talent and ultimately drives a candidate’s interest to work for a company. We see more and more companies getting involved in the talent community and increasing their online engagement. In the “war for talent,” employer branding strategies have become the most important tactic for solving one of the biggest recruiting challenges – attracting high-quality candidates in a tight job market. CRE companies are scrambling to develop their employer brands in order to remain competitive and acquire the best talent in the market.
What is an Employer Brand?
Employer branding is the external image that attracts active candidates searching for jobs and converts passive candidates who may not even be on the job hunt. A strong employer presence can help companies achieve a dynamic workforce and greatly influence a company’s success. In today’s competitive market, building a reputation as a credible employer, and as great place to work, is crucial. Companies with a bad reputation or no online presence not only struggle to attract candidates, but to retain employees as well.
Why is it Important?
According to LinkedIn, businesses with excellent employer brands receive 50% more qualified applicants. This could be due to that fact that 75% of candidates research an employer brand and reputation before they apply in order to gain insight to the company culture. Not only will it positively affect the quality of candidates who apply but will also positively affect your company’s bottom line. Essentially, there is ample evidence that a great employer brand makes it easier to recruit and can alter your company’s bottom line in more ways than one.
How to Create It
One easy way to build a positive and engaging employer brand is through social platforms, such as LinkedIn and Instagram, with 84% of businesses already using social media to hire new talents. Candidates are now utilizing various social networks before applying to potential CRE companies to work for, making it essential for companies to expand their digital media presence. Real estate firms can grow their brand landscape through various mediums such as the company website, online professional networks, and social media.
Employer branding strategies are now a necessity, and companies must be able to successfully create an attractive and desirable organizational reputation as a great place to work. This can be the differentiator on whether a talented candidate decides to apply to work for you or your competitor. In the end, there are many benefits of improving and maintaining a strong employer brand. Not only does it improve the recruiting process, but leads to higher retention rates, company differentiation, sense of culture, and higher quality candidates. Ultimately, a powerful brand is crucial to attracting and retaining the best talent and can help companies successfully build top-notch teams.