Understanding and measuring the success of your employer branding efforts is essential for making informed decisions and improving your strategy. The right key performance indicators (KPIs) provide valuable insights into how your company is perceived as an employer and how effective your employer branding approach really is.
In this article, we’ll go through the most important metrics to track and how to set up and monitor KPIs.
Which metrics matter?
- Candidate experience
This refers to how candidates feel about your recruitment process. A positive experience can be measured through surveys sent out after interviews or hiring decisions.
Here are two useful questions to ask:
- How would you rate your recruitment experience?
- Would you recommend this company as an employer?
- Employee turnover
Turnover rate is a key indicator of how well you retain talent. By measuring how many employees leave within a given time period, you can assess the impact of company culture and work environment. Complementing this with qualitative exit interviews can help you understand why employees leave and what improvements can be made.
- Employee satisfaction
Regular employee surveys provide insights into how satisfied your employees are, which directly influences your employer brand. Key areas to focus on include workplace culture, leadership, and career development opportunities.
- Online engagement
Tracking engagement on social media and employer review platforms (such as Glassdoor and LinkedIn) can give you an idea of how your company is perceived externally. Monitor the number of reviews, average ratings, and interactions on these platforms.
- Cost per hire
Calculating the cost of hiring a new employee helps assess the efficiency of your recruitment strategy. A decreasing cost per hire can indicate a stronger employer brand, where the right candidates are attracted more easily without excessive spending.
How to set up and track KPIs
- Define clear goals
Before you start measuring, you need to define what you want to achieve with your employer branding efforts. Your goals should be specific, measurable, achievable, relevant, and time-bound (SMART).
- Choose relevant KPIs
Based on your goals, select the KPIs that best reflect success. A mix of quantitative (e.g., turnover rate) and qualitative (e.g., employee feedback) metrics will give a well-rounded picture.
- Set up a data collection plan
Decide how and when you’ll collect data. This may include surveys, interviews, recruitment cost analysis, and social media monitoring. Having a structured approach ensures that your insights are up to date and relevant.
- Review and adjust
Regularly measure and assess your results. Look for trends and patterns, and be ready to adjust your strategy based on the data. If a particular KPI isn’t showing the desired results, investigate the cause and refine your approach accordingly.
Summary
Measuring employer branding success is essential for building a strong reputation that attracts and retains top talent. By focusing on key metrics and setting up clear KPIs, you gain valuable insights that lead to better decision-making and more effective strategies. Regular follow-ups and evaluations ensure that your employer branding efforts remain impactful and keep your company competitive in the job market.
