HRO Today November 2014 - 48

HRO Today Research
of 100 among all respondents. Strong communication of
the employer brand internally via the company intranet
was cited by 60.7 percent of respondents. An even
higher percentage cited employee events (66.4 percent).
Perfect
Pa ir
Measuring ROI
A troubling finding was the lack of measurement of the
return on investment (ROI). Nearly two thirds of companies
do not track the ROI of the employer brand, with little
difference between top brands and other brands.
" If you can't measure what the impact has been, then it's
hard to really see what is working and what isn't, " says
Hubble.
Many employer brand managers believe that measuring
ROI is too hard and therefore choose not to make it part of
their strategy. Others don't set targets and therefore don't
know what to measure. There are several ways to measure
ROI: employee surveys, time-to-hire metrics, retention rates,
cost-per-hire metrics, and the number of applications per
position.
" In no other part of the business would you spend $100,000
or more and not measure the outcome, " says Hubble.
" Employer brand should be no different. "
Tracking true ROI on employer brand activities is difficult
because other variables beyond employer brand programs
affect retention and hiring data. For example, if retention
rates move from 65 percent to 75 percent, the increase
could be attributable to enhanced HR programs, increased
consumer brand advertising, or new leadership, among
other factors.
[48]
HRO TODAY MAGAZINE
| NOVEMBER 2014
* Time-to-fill
* Cost-per-hire
* Retention rates
* Job application rates
* Changes in advertising spend
* Cost of turnover and associated onboarding programs
* Surveying people about employer brand proposition
awareness
Good measures of employer branding project success are
increased rates of completed job applications and survey
results showing that people are more aware of the EVP.
The value of the employer brand to talent initiatives is
predicted to rise. Overall, two-thirds (65.5 percent) of
respondents anticipate that the employer brand will
increase in importance at their organizations in the next 12
to 24 months.
Why will the importance of the employer brand increase?
All the respondents stated similar reasons: business growth,
competition for talent, leadership changes, improving
economy, financial constraints with raises, and part of
larger company brand strategy.
When it comes to promoting the brand internally, avoid
overcomplicating the plan. Be sure to leverage the
normal methods of communications to get the message
out to the employee base. Perhaps the easiest and most
cost effective way to educate employees about the
firm's employee value proposition is to put the actual
EVP statement on the screen savers of all employees'
computers. The screen saver is something they see every
day and with that type of repetition, the message is more
likely to stay top of mind. Create a digital employer brand
document that employees can download from the intranet.
In it, link to employee testimonials and videos on your
website. Give this document to new hires to help get them
engaged in their new roles.
FAST FACT:
Nearly $200,000 is allocated by respondents toward building
and maintaining their employer brands each year. Top brands
have an average budget of 52.1 percent more than other
brands to support their employer brand initiatives. This
equates to a difference of $107,363.
Employer brand success is ultimately gauged by retention
rates and how easy it is to put new talent into open
positions. However, measuring certain hiring data before
and after an employer brand campaign can provide
indicators of success, assuming all other variables remain
relatively constant. Common indicators include:

HRO Today November 2014

Table of Contents for the Digital Edition of HRO Today November 2014

HRO Today November 2014 - 1
HRO Today November 2014 - 2
HRO Today November 2014 - 3
HRO Today November 2014 - 4
HRO Today November 2014 - 5
HRO Today November 2014 - 6
HRO Today November 2014 - 7
HRO Today November 2014 - 8
HRO Today November 2014 - 9
HRO Today November 2014 - 10
HRO Today November 2014 - 11
HRO Today November 2014 - 12
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HRO Today November 2014 - 14
HRO Today November 2014 - 15
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