Launching an employer branding strategy can expend a substantial amount of time, effort and resources. To ensure you get value for your efforts you need to ensure you have a measurable return on investment (ROI). The ROI is dependent on what you are looking to deliver with your employer branding strategy.

To do this set measurable objectives that you want to achieve before you promote your employer brand. You can then measure these at regular intervals to see if your employer branding strategy is working. These objectives should include:

Retention rate

Look at your retention rate for the last two years. Use these figures to measure against your retention rates going forward and hopefully you will see a significant improvement.

Employee satisfaction

This can be measured by conducting a survey at fairly regular intervals, say every six months, to see if employees are reporting increased satisfaction. If they are not you need to focus on issues raised by their feedback and tweak your employer brand accordingly.

Rise in quantity and quality

As a result of a successful branding strategy you should see a steady increase in the number of high calibre applicants for roles within your company. This is a really good indicator of ROI. If you are not seeing an increase in the quantity and quality of applicants your employer branding strategy may require re-assessment.

Referral rates

A good way to gauge ROI is by monitoring your referral rates. Satisfied staff will often recommend vacancies in their companies to friends and acquaintances. They will promote their company as a good place to work.

If, after implementing an employer branding strategy, there is a rise in applicants who have been referred to the roles by current staff, you have a clear indication of success. This shows that your staff appreciate their jobs and are happy in their work. They recognise the value of your EVP. Improvement of referral rates is always something to strive for. Not only does it mean that current staff are content, it saves HR time and resources in terms of sourcing new recruits.

Online Reputation

Monitor sites such as Glassdoor to see what kind of reviews current and former staff are leaving about your company. As each reviewer must leave a score for their employer out of a maximum of 5, it will be very clear to see any improvements in your overall score after implementing an employer branding strategy.

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