How Small Businesses Can Win Through Talent Branding [webcast]
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Your reputation as an employer can make or break your ability to hire top talent. Unemployment rates have dropped below 5% for the first time in nearly a decade and candidates can be more selective. As a small business, it's more important than ever to build a strong employer brand in order to attract top talent and compete effectively for quality candidates. According to our latest talent trends research, 90% of professionals want to hear from you, but their biggest challenge is not knowing enough about your company. In this presentation, LinkedIn Talent Brand Consultants, Rose Choi and Sarah Widdes, discuss tips and best practices to help you unlock your company's full potential and build its brand on LinkedIn. Learn more about our solutions at: http://bit.ly/2dFpqBM
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How Small Businesses Can Win Through Talent Branding [webcast]
- 1. How Small Businesses Can Win Through Talent Branding Rose Choi Talent Brand Consultant Sarah Widdes Talent Brand Consultant
- 2. What we’ll cover What is a talent brand Why is it important How to implement a talent brand strategy Impact of a talent brand strategy
- 3. Our world is more connected than ever been before Everyday Usage… 100 billion emails 23 billion text messages 1.8 billion photos uploaded 1.6 billion Facebook logins 57% LinkedIn users on mobile 500 million tweets
- 4. With unemployment below 5%, people are more and more selective of their next employer Source: http://www.macrotrends.net/1316/us-national-unemployment-rate
- 5. People complete 60% of the decision making process prior to any direct interaction with the brand –and that extends to the way people now look for employment. 60% of the decision-making process is made prior to any direct interaction with a sales person.
- 7. Job switchers are engaging in multiple touch points to inform their decisions Laura Target Candidate
- 8. Candidates have options and access to information is at their fingertips. What will candidates learn about your company? What do you want them to know?
- 9. are passive and not looking to move… 70% 60%of them are open to opportunity Talent branding is imperative to successfully recruit passive candidates However,
- 10. Talent Brand n. the highly social, totally public version of your employer brand incorporating what talent thinks, feels, and shares about your company as a place to work a significant asset for both hiring/retaining great talent and promoting your corporate image to the market
- 11. Talent Branding = Marketing Goal Sales Hires Audience Messaging Call to Action Decision-making Journey Prospects and customers Consumer Value Proposition Purchase our products or services Awareness Interest Intent Purchase Candidates and employees Employer Value Proposition Come work with us Awareness Interest Application Hire Marketing Talent Branding
- 12. Now, more than ever before, recruitment is marketing. Start the conversation Proactively bring those hard-to-reach candidates into your funnel Build relationships Win them over with content that matters to them in a voice they can relate to Convert From followers to candidates through outreach for the right opportunities Evangelize Give your employees a voice Aware Engaged Considering Hire Target Members Brand Ambassadors Done well, Talent Brand can accelerate the hiring funnel by 2x or more
- 13. Talent acquisition leaders say employer brand significantly impacts their ability to hire great talent 83% Average reduction in cost per hire 50% Average reduction in turnover 28% Talent professionals who say talent brand is a top priority in 2015 56% The case for talent brand Source: LinkedIn Global Recruiting Trends Report, Nov 2014
- 14. 14 “Which channels or tools have you found to be most effective in promoting your talent brand?” 50% 52% 63% 45% 47% 60% Social media (e.g., Facebook, Twitter) Friends/family, word of mouth Online professional networks (e.g., LinkedIn) Large companies Small businesses Source: LinkedIn Global Recruiting Trends Report, Nov 2014
- 15. people employer brand culture perks leadership alumni network current employees candidate experience reputation perception transparency authenticity Employee Value Proposition Company Culture People Candidate Experience Your Talent Brand
- 16. I’m a small company. Do I have a talent brand? Of course you do.
- 17. Where do I start? Step 1: Get Buy-In Step 2: Listen and Learn Step 3: Craft Your Approach Step 4: Promote and Engage Step 5: Measure and Adjust
- 18. Step 1: Get Buy-In
- 19. Get your leaders on board, arm yourself with data, and bring partners to the table You’ll spend less on hiring. Lower your cost per hire by as much as 50%. You’ll boost retention. Reduce employee turnover by up to 28%. You’ll influence the conversation with candidates. If you don’t, others will.
- 20. Engage your leaders High reach and engagement 8K+ VIEWS 1,151 LIKES 58 COMMENTS
- 21. Step 2: Listen and Learn
- 22. Leverage your current employees and listen to them Who are your brand ambassadors? What do they like about working at your company? What is most important to them?
- 23. Educate your brand ambassadors
- 24. Step 3: Craft Your Approach
- 25. Be real. What you say about your company must be true or your employees and the marketplace will see through it Be personal. Use the employee stories you gathered as these can be more easily remembered and inspiring Be brave. Don’t be afraid to admit areas of opportunity and voice some of the bigger initiatives you’re working toward Be consistent. Partner with your marketing team to ensure your messaging is aligned with your company’s overall brand
- 26. Decide what channels you want to leverage for your messaging
- 27. Define what success looks like and set measurable goals Additional sample goals • Increase offer acceptance rate by X% • Double the number of employees with an optimized social media presence • Gain X number of followers on LinkedIn by end of quarter • Increase number of job applications by X% LinkedIn’s Talent Brand Index (TBI) measures how well you’re reaching and engaging professionals with your talent brand. What’s your TBI score? 450M+ LinkedIn members Talent Brand Engagement those who have proactively shown an interest • Researching your company and career pages • Following your company • Viewing jobs and applying • Viewing employee profiles • Connecting with your employees Talent Brand Reach those who are familiar with you as an employer 51,277 366,263 = 14.0% Talent brand index
- 28. Step 4: Promote and Engage
- 29. 8 golden rules for promoting (and protecting) your talent brand: #1 Look in the mirror. #2 Empower your employees. #3 Inform your leadership. #4 Target your messages. #5 Make your culture shine. #6 Go viral. #7 Be visual. #8 Don’t bite off more than you can chew.
- 30. How to promote and engage on Upgrade your profile Help your team update their profiles Brand through LinkedIn job postings Spruce up your Company Page with content Launch your Career Page Leverage ad space on your employee profiles Reach key talent pools with targeted status updates Convert your team into talent brand ambassadors
- 31. Step 5: Measure and Adjust
- 32. Track your performance and optimize where it makes sense In-house Offer acceptance rate Employee retention Internal surveys Talent Brand Index How is the potential pool of talent engaging with your company? Online Website traffic Job applications Social media growth
- 33. Let’s review Step 1: Get Buy-In Step 2: Listen and Learn Step 3: Craft Your Approach Step 4: Promote and Engage Step 5: Measure and Adjust
- 34. Companies with a strong talent brand get a 31% higher InMail acceptance rate. They also see a 43% decrease in cost per hire. And, they tend to grow 20% faster (aka faster rate of hire). And strong talent brand leads to 2.5x more job applicants. Source: https://business.linkedin.com/talent-solutions/blog/2015/03/the-roi-of-talent-brand What impact will this have on our talent acquisition efforts?
- 35. Be ahead of the trend, not behind the times
- 36. Additional resources: Recruiting for Small Businesses: Ultimate LinkedIn Guide Small Business Global Recruiting Trends Ultimate Hiring Toolbox for Small Businesses 2015 Talent Trends for Small Businesses in North America Employer Brand Playbook
- 37. ©2014 LinkedIn Corporation. All Rights Reserved.©2014 LinkedIn Corporation. All Rights Reserved.
Notas do Editor
- Today we’re going to talk about talent branding, specifically for small businesses. We’ll talk about what it is, why it’s important, how to implement a strategy, and the impact it can have on your hiring efforts. I want to kick this off first by taking a look at how candidates are interacting with the world because understanding how people operate will help us understand a candidate’s journey and thought process.
- Let’s start with what a concept we’re all familiar with: being connected We are more connected as people and organizations than ever before At a quick glance, billions of communications are taking place across the world On average, everyday… 100 billion emails are sent 23 billion text messages are sent Almost 2 billion photos are uploaded There about 1.6 billion Facebook logins Majority of LinkedIn users are coming from a handheld device And there’s about 500 million different tweets per day We are connected through many technology channels and on several devices.
- We also know that the unemployment rate within the US has dropped below 5% for the first time since 2008. Increased competition, especially among small businesses
- We know that 60% of people’s buying decision happens before they ever interact with a salesperson.
- Well guess what, people aren’t treating career decisions any differently. Consideration and decision making is being made before interacting directly with a recruiter. Let’s take a look at an example of what a candidate’s journey may look like.
- If job switchers are starting to think about a job switch 5 months before the switch – let’s take a look at what we know they’re during in that time to inform themselves. This is Laura: Laura is your target candidate for an open role. Similar to how we know that consumers spend a lot of time researching products, reading reviews, asking friends before making a big purchase, we know Laura is doing the same thing to help inform herself on making a big decision – like a job change. It’s important that your brand is in front of Laura before she even considers a job switch so that when she is ready to switch, you’re the brand she thinks of first. So how might Laura engage with your brand in the LinkedIn ecosystem – long before she talks to any of your recruiters… How are they engaging with your brand: 1. Like the majority of professionals on LinkedIn, she may be catching up on articles and postings on her newsfeed. And maybe there she sees an article that your company has shared. Brand interaction #1. 2. If you’re targeting your content to relevant members like Laura, she’s hopefully going to interact with it – perhaps she likes your article which then virally goes out to her network. Expanding your brand’s reach. 3. A couple days later, she might be checking her LinkedIn again and sees an ad from your company – recommending a relevant job for her and inviting her to check out your company for more information. Another brand interaction. 4. After seeing your ads, she decides she wants to check out your company - so she follows your ads to your company’s LinkedIn Career page. The is the end all, be all hub of your talent branding assets – here Laura can read and learn about what it’s like for someone in her shoes to work at your company. **% of sophisticated job seekers something about a LI career page. 5. Another time, with your company’s talent brand still in her mind, she sees one of her connections on LinkedIn works at your company - so she goes and checks out the connection’s profile to see what they’re working on. Your employees are also an extension of your brand – so another brand interaction 6. Living in a social world, we also know that Laura is likely going to ask other friends, old schoolmate, about your company and what they’ve heard – this is your talent brand reach even beyond Laura, your target. 7. And finally, perhaps 5 months down the road, Laura receives and InMail from one of your recruiters. Because she’s been primed to your brand and learning about your company, she’s confident she would be interested in speaking to your recruiter and clicks accept. We know there are many different paths and many different touchpoints that candidates take in their career journey. But what we’re going to be discussing today are the fundamental basics of how you can own and promote your talent brand across the LinkedIn platform. And importantly, we can help you do this in a scalable and targeted way.
- So what does this mean? This means that candidates are becoming more selective with their employer of choice. They have options and they have the ability to access information on these options. What information do candidates have on your company? What do you want them to know?
- LinkedIn gives you access to over 450 million professionals world wide – but as we know, they are not all interested in a new job, majority of them are passive, but the good news is that majority of them are also open to relevant opportunities. This is where talent branding comes into play. We need to think about getting in front of and engaging with those passive candidate.
- A talent brand is defined as the highly social, totally public version of your employer brand incorporating what talent thinks, feels, and shares about your company as a place to work. Your talent brand is key for not only hiring great talent, but retaining great talent and promoting yourself as an employer to the market.
- You can think about talent branding as you do marketing. The idea is the same, what’s different is the positioning and slightly different focus areas or end goals. For example, the goal of marketing is to generate more sales, whereas the goal with talent branding is acquire the most talented hires. The audience for marketing tends to be prospects or existing customers. The audience for talent branding is typically candidates and current employees. The messaging for marketing may emphasize the consumer value proposition whereas talent branding would focus on your company’s employer value proposition; i.e. why your company is a great place to work. The call to action for marketing folks is something like “purchase our products or services” where talent branding is more along the lines of “come work with us” And finally, the decision making journey is basically the same, with again the ultimate stage being hire for talent branding. One other thing I want to note is that we’re seeing more and more small businesses leverage their marketing partners when it comes to talent branding. Since small businesses have limited resources, this collaboration can be key in not duplicating efforts and leveraging existing resources.
- Taking a closer look at the hiring funnel, companies tend to focus solely on the considering and hire pieces; and fail to realize the importance the top of the funnel plays; these candidates are more likely to consider you as a employer if a) they’re aware of you are and b) have engaged with you in some way. Once small businesses begin placing focus on the top of funnel, we can see that done well, a stronger talent brand can accelerate the hiring funnel by 2x or more.
- The case for talent brand is growing stronger every day – and here are a few reasons why. Over ¾ of talent leaders believe that talent brand has a significant impact on ability to hire With a talent brand strategy, we can expect a 50% average reduction in cost per hire and a 28% lower turnover rate 56% of talent professionals are actually making talent brand a top priority for their organization in 2015 Let me be clear: Investing and prioritizing Talent Brand is no longer optional.
- The great news is that building a strong talent brand can be done equally well by businesses of all sizes – thanks to is social media. The purple bar represents large businesses and the blue bar represents small businesses. As you can see, over 60% of small and large businesses find online professional networks to be the most effective channel in promoting their talent brand. Any company – big or small – can now find high quality talent at scale, with the right tools and strategy. In fact, this may be one of the few times when smaller businesses have a leg up, since they tend to have more ability, fewer policies and red tape to go through to get social media campaigns off the ground.
- Now, some of the best companies I work with who have very defined, self-aware brand strategies can’t clearly state their Talent Brand in one sentence, but they can tell me things like this – our brand is about leadership, our culture, our employees. All of the things you see on this slide make up your Talent Brand – and as you can see it’s not just what you say – it’s what defines you in the marketplace. Your Talent Brand is at the intersection of 4 key factors: Employee Value Propositions - These are your company’s defined EVPs – it’s what you want your brand to be Company Culture - What‘s it really like to work at your company? Fast paced, traditional, collaborative. People – This includes not just your current employees, but your alumni, your customers, and finally your candidates Candidate Experience – This can be impactful long before that candidate actually walks through your door – when they reach out to a friend who is an employee, when they apply for a job or receive a message from a recruiter (say, with typos), or have a good/bad experience on a phone screen. All of these elements impact your Talent Brand. And when people think about working at your company – that thought – is your Talent Brand coming to life.
- Talk to them about how not to be scared as small businesses
- Recruiting leaders are often the ones calling the shots with talent brand. We’ve found companies with strong talent brand have strong 1) buy-in from the C-suite 2) data to support their case, and 3) strong cross-functional teamwork. They’ll be interested to understand ROI. Talk about how you can lower your cost per hire by as much as 50% or how you can reduce employee turnover by up to 28%. Don’t go into these conversations alone. Leverage marketing, communications, and IT partners and bring them to the table. With more skin in the game, your colleagues will help you succeed.
- Your leaders play an important role in your company’s overall talent brand strategy. The impact they can make just by, for example, publishing on LinkedIn is powerful. Take BCG for example, who made Forbes list of top 10 Best Companies to Work For in 2016. Rich Lesser, their CEO, wrote about their focus and success on hiring more women at their firm. Take a look at the organic engagement he saw. Over 8000 views, over 1000 likes and folks commenting and starting discussions around this topic. If you can get your leaders on board, your talent brand efforts will be that much stronger.
- Step 2 entails a lot of listening and a lot of learning. You’ll want to ask questions, gather facts, opinions, and stories. These are the building blocks to your narrative. Identify your brand ambassadors and listen to them. At LinkedIn, we have something called an EVS: employee voice survey, which our HR team sends to all of our employees and asks us specific questions. They ask us about things like leadership, internal collaboration, culture, and benefits. It’s gives us an opportunity for to voice what we like about working at LinkedIn as well as bring attention to the areas where we could use some improvement. Doing research may seem tedious but it will benefit you in the long run. This information will be valuable when you arrive at step 3.
- So, from their very first day at LinkedIn, we encourage our employees to be active on social media. We take time out to help employees build a strong profile, and in return, our employees become strong, equipped ambassadors to represent our brand. And what’s in it for the employee? We know the average employee will stay at a company for 4 years, and LinkedIn employees are no different. By encouraging our employees to put their best foot forward on social media, they not only become impressive brand ambassadors while on our team, but also invest in their personal talent brand, which will stay with them throughout their career. Not to mention, profile viewing is the #1 activity on LinkedIn – more than job post views and company page views. So where better to demonstrate the talent and passion you have at your company than on the profiles of your employees?
- Now that we’ve got a good understanding of what our employees think about our talent brand, let’s use this information to craft an approach
- -We want to make sure what we’re saying reflects how your employees feel. So first and foremost, be real. What you say must be true or current employees and the marketplace will see right through it. -You also want to be personal and share the stories you gathered; these are often times more easily remembered and motivational for employees. Those you feature will be proud to participate. -Be brave. Admit when there are areas of opportunity or share with candidates some of the bigger initiatives your company is working toward. For example, within the tech industry, diversity remains an issue. At LinkedIn, we’ve identified this an a major area of opportunity and are striving to create a more diverse workplace. -Lastly, be consistent. Think about how to align your talent brand message with your company’s overall brand.
- In addition to the messaging, you’ll want to decide on what channels to use. Social media, as we learned, is a great way for small businesses to promote their talent brand and depending on the resources you have, you’ll want to focus on specific channels that make the most sense for your company. You may also want to consider tailoring the message to each channel.
- We also need to set goals measurable goals. One way you can do that is through your TBI score. LinkedIn’s TBI measures how well you’re reaching and engaging professionals with your talent brand. It is the percent of people who know about your company that also express interest in your company. The higher your index score, the easier it is to attract the right candidates for your roles. For example, in the LinkedIn ecosystem, say your company’s reach is 366,000 thousand people. This takes into account things like connecting with your employees or viewing employee profiles. Of that 366,000 people, 51,000 people have actually engaged with you in some way; whether it’s through researching your company page, following you, or viewing your jobs. From there, we can see that your Talent Brand Index is 14%. And we can use this number to compare you to competitors. If you’re interested in your TBI score, you can ask your relationship manager for that data. Additional sample goals may include your offer acceptance rate, or gaining more followers or gaining more job applications by a certain percentage. Again, you want to set realistic goals for yourself.
- Now that we’re done crafting our approach, we’ll need to actually promote and engage.
- We have 8 golden rules for promoting and protecting your talent brand. First, look in the mirror. Make sure what you do and don’t do is what you’d like employees to emulate. Second, empower your employees. Lay out the goals and show them a clear, easy path to action. Third, inform your leadership. Use data to gain support, ease concerns, and help explain your choice of platforms. Then target your messages. The more relevant your message is to a particular audience, the greater its impact will be. Fifth, make your culture shine. It’s not just about jobs. Focus on your people, their stories, and bring emotion to the discussion. Sixth, go viral. For amplified results, find creative ways to get more people talking about your company’s great culture. Be visual. Bold and colorful images, graphics, charts, and videos can bring your brand to life. Lastly, don’t bite off more than you can chew. Show that your efforts are scalable and sustainable on one platform before moving on to another.
- When it comes to LinkedIn, here are some ways to promote and engage. Your profile is the first place a candidate will go after receiving your inmail, so it’s a prime branding opportunity. Set up your own profile as a model for employees. Then, coach your team to make the most of their LinkedIn profiles. Every employee is an opportunity to brand your company as a great place to work. Every LinkedIn job posting is a branding opportunity, thanks to the millions of active job seekers and precision targeting to both active and passive candidates. You can start conversations with followers through company updates; and attract new followers when they visit your company page. This might be a good opportunity to partner with your marketing team. Your Career Page is the central hub for your talent brand activity on LinkedIn. What’s really exciting is that LinkedIn is the in the middle of redesigning the Careers page so that it can tell your let your talent brand shine even more through videos, employee testimonials, photos, and content. If you’re interested in a Careers page, your relationship manager can share more about what that looks like. Alongside of the Careers Page, you can also reach key talent pools with targeted updates. You can do this with your followers organically or you can also implement a strategy to reach folks with a targeted message in their LinkedIn newsfeeds. We refer to this as sponsored updates, which you may have seen in your own newsfeeds. Again, your relationship manager is a good person to reach out to if you have questions on targeted messaging. And lastly, convert your team into talent brand ambassadors. They are your unofficial marketers and recruiters. Train them on how to use LinkedIn and other social media to best represent your talent brand.
- Ok, we’ve reached the last stage. Measure and adjust.
- In order to know if your talent brand is working or what impact it’s having, you want to make sure you track performance and then optimize where it makes sense. Third-party research can sometimes be expensive, so here are some alternative metrics that you can monitor to better understand the impact of your talent brand initiatives. In-house: take a look at how your offer acceptance rate has changed, measure retention rates, and seek out the results of internal surveys Online: you may want to review how traffic has increased to your website or how your job applications have increased. You can also check how your brand has grown on social media via followers and traffic. Finally, as we discussed, LinkedIn can provide you with your talent brand index so that you can gain an understand of how talent is engaging with your company.
- As a small business, it is imperative now more than ever to think strategically about your talent brand and incorporate this as a major driving force to your hiring efforts. We want to stay ahead of the game, we want to be top of mind as an employer, and we can do this through talent branding.