Which KPIs Are Best For Employer Branding?
As an organization, you want to be known as a great place to work. To achieve this, you need to measure your success in employer branding by tracking various KPIs or key performance indicators.
If you want to be known for providing a great employee experience, offering good salaries and benefits, and having a positive company culture, you also want to be known for hiring the best and the brightest employees.
Here are the five most important KPIs for measuring employer branding success:
1. Qualified applicants
2. Employee referrals
3. Employee satisfaction
4. Social media reach
5. Hiring speed
#1 Number of Job Applications
When measuring the success of your employer branding efforts, the number of job applications received is a good metric to track.
If you see an increase in the number of qualified job applications, it means that your employer branding campaign is having a positive impact.
This indicates that potential employees are more aware of your company as a great place to work and are more likely to apply for jobs there.
On the other hand, if you see a decrease in the number of job applications, it means that your employer branding campaign is not working and you need to make some changes.
Table of Contents
How to Write Creative Job Descriptions:
#2 Quality of Job Applicants
To measure the success of your employer branding efforts, you need to track the quality of the job applicants you’re attracting. This can be done by looking at the number of qualified applicants, the number of interviews conducted, and the number of hires made.
If you’re seeing an increase in the number of qualified job applicants, it’s a sign that your employer branding is working. If you’re seeing a decrease in the number of interviews conducted or hires made, it’s a sign that your employer branding needs improvement.
#3 Employee Satisfaction
Employee satisfaction is one of the key indicators of employer branding success.
If your employees are unhappy, they will be less likely to refer friends or family members to work for you. They may also leave your company if they are unsatisfied with their job.
Employee satisfaction can be measured by surveying employees about their feelings toward their job, their company, and their working conditions. You can also measure employee satisfaction by looking at factors such as employee turnover and engagement levels.
If you want to ensure that your employer branding strategy is successful, you must make sure that your employees are happy and satisfied with their jobs.
#4 Employee Retention
When it comes to measuring your employer branding success, employee retention should be one of your top priorities. If you can keep your current employees happy and engaged, you’ll be in a much better position to attract new talent.
There are a number of ways to measure employee retention, such as turnover rate, voluntary turnover rate, and retention rate. Choose the metric that best suits your needs and track it over time to see how you’re doing.
This video shows how to measure your employer branding initiatives. Some key takeaways of the metrics in the video are mentioned in the table below:
Awareness
- Employer brand awareness
- Employer brand search impressions
- Employer brand sentiment
- Social media engagement rate
Candidate experience
- Cost per candidate hire
- Source of hire
- Offer acceptance rate
- Hiring manager satisfaction
- Hire quality
Employee Experience
- Employee satisfaction scores
- Employee referral rate
- Employee retention rate
- Employee site review ratings
Closing Thoughts
There are many different KPIs you could use to measure the success of your employer branding efforts, but these five are a good place to start. Tracking these KPIs will help you understand how well your employer branding strategy is working and identify areas where you need to make changes.
FAQs
How do you measure the success of your EVP?
The success of employer branding and subsequently EVP depends on several factors: employer brand rating, is your culture talked about widely, and are you losing talent to competition?
Is EVP the same as employer brand?
EVP is the narrative behind an employer brand. EVP is not also not about marketing or advertising. It's about communicating what your company does so that people can understand why they should work for you instead of someone else.
What are the goals of employer branding?
To successfully define what it means to work at your company, and why prospective talent should choose you.
