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What is Employer Branding? 

What can a company provide a worker?

There are no second chances to make a good first impression. Perhaps that's why when attracting and retaining talent, the way in which an organization presents and positions itself in the labor market is key. Employer branding seeks to communicate the values, culture, and opportunities that a company offers its potential employees and own team.

Employer branding is a concept that makes reference to the reputation and image that a company projects as an employer.

The issue is not trivial. In the last few years, talent has become a differential value and several reports show the growing interest of organizations to develop the company's brand. A study carried out by Content Stadium puts the number of companies that currently already have a strategy of this type in place at 64%. But there's more. The percentage increases to 76% when we speak about companies of more than 10,000 employees. And according to data from Randstad, "companies that don't invest in the labor attractiveness of their brand spend almost €4,000 more per hire than those that do work on their employer branding."

Employer branding strategies

It was in the middle of the 90s when Simon Barrow (chairman of People in Business) and Tim Ambler (dean of the London Business School) coined the term, although it has been in the second decade of the 21st century when employer branding strategies have generalized. Today, the concept covers all those actions that represent an added value when it comes to retaining and attracting talent.

In order to build solid employer branding, it's essential to implement an effective employer branding strategy. In this regard, some of the key actions that can form part of this strategy are:

  1. Flexibility: The labor market is changing as is our way of working. Offering flexible hours, remote working, or continuous workdays gives employees the opportunity to balance their personal and professional life while it contributes to building an attractive employer branding image from the point of view of talent attraction and retention.

  2. Training and development: Providing learning and professional development opportunities demonstrates the company's commitment to the growth of their employees and promotes their professional development. The idea of opting for an attractive professional project can be key to gaining employee loyalty and commitment, while awakening the desire of future talents to join the workforce.

  3. Work-life balance: Promoting a healthy balance between work and personal life is essential for the well-being of employees, as well as another key aspect in the development of employer branding strategies. Offering work-life balance programs, such as extended paternity or maternity leave, personal days off, or well-being programs can improve employee satisfaction and loyalty.

  4. Internal communication: Establishing open and transparent communication channels between employees and the company's management promotes trust and strengthens the sense of belonging. Making employees feel heard can also contribute to a good work environment. In this regard, employees can become ambassadors of the company and be great allies of the company's employer branding.

  5. Rewards: Rewarding the performance of employees helps to build a motivating and positive work environment. That recognition by the company is not only a reflection of the emotional salary but is also another common action in employer branding strategies.

Advantages of applying an Employer Branding strategy

A smiling working woman clapping her hands

Salary continues to be one of the most important factors when choosing a company to work for. However, data from Randstad's latest 2022 employer brand research report reveals that work-life balance (65%), a pleasant work environment (62%), and a good career plan (54%) are aspects that are becoming more important among those seeking new professional opportunities or who are already putting their talent at the service of a company.

Taking into account the figures, implementing an employer branding strategy doesn't just represent a reduction in hiring costs or labor expenses, but its advantages go beyond. To start, solid employer branding is synonymous with talent attraction. Highly qualified professionals generally look for employers that offer a good work environment as well as professional growth opportunities.

Two happy workers at work

In the same way, employer branding actions also contribute to the retention of current employees that, through appropriate strategies, feel valued and committed to a company that cares about their well-being and development. In fact, talent retention is more cost-effective than recruiting and training new employees. In this regard, an effective employer branding strategy can reduce employee turnover and, therefore, the labor costs associated with recruiting and training new employees.

Increase in motivation -or, in other words, being able to encourage employees to give their best- ranks high among the advantages of implementing employer branding strategies. Committed and satisfied employees tend to be more productive and perform better, which also results in a good work environment of camaraderie, involvement, and responsibility.

Employer branding at Repsol

 

At Repsol, we are committed to our team and talent. Good proof of that is that our employer branding strategy drives all professionals to develop their potential and show everything they are capable of. We believe in mobility, training, development, and promotion. That's why in 2022 alone, we allocated 12.1 million euros to the training of our workers and we managed more than 700 university scholarships. Moreover, we facilitated 3,214 internal and international transfers last year.

And there's even more. Productivity and efficiency are part of our nature and, in part, are the result of our commitment to flexible work environments that promote measures aimed at time self-management. Teleworking, work-life balance, flexibility, time bank... These are some examples of employer branding actions that help to understand our company's employer branding and why 80% of our employees recommend Repsol as a good place to work.

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