How to measure your employer brand in 2024
We live in a noisy world and no matter how big you are, it’s getting harder to get heard. And so, having a strong employer brand that’s authentic and true to your DNA cannot be overstated. But how can you measure the effectiveness of your employer brand? In the digital age, there are an almost limitless number of data points available for measurement – the key to an effective employer brand measurement strategy lies not in the quantity of data collected but in the careful selection and meaningful interpretation of the right metrics.
Choosing the right metrics
The first step in this process is a ruthless selection of 5-6 key metrics that align closely with your organisation's talent strategy. Is your business going through a period of exceptional growth? Do you need to change perception around your brand if the sentiment isn’t as positive as you’d like? Or focus on being relevant to a niche skill set? All this will determine what you decide to track.
This might include measures such as employee engagement scores, turnover rates, the number of qualified applicants per opening, interview conversion ratios, cost per applicant (CPA), brand sentiment, engagement by channel. The goal here is to concentrate on metrics that directly reflect the effectiveness of your employer branding initiatives in attracting and retaining top talent.
Harvard Business School’s Michael Porter explains strategy as “deciding what you’re not going to do”. The same approach applies to measurement. Ignoring extraneous data is as crucial as selecting the right metrics. In the sea of available data, it's easy to get swamped by numbers that, while interesting, do not contribute to strategic decision-making. By focusing solely on the most impactful metrics, you can create a more streamlined and effective measurement process that tells your story in a compelling and exciting way.
Sustainable reporting
The second critical aspect is sustainability in reporting. It's tempting to create intricate dashboards and complex reporting systems. After all, everyone loves a dashboard these days. However, these often become burdensome to maintain, leading to outdated and unused data repositories – or just as bad, swathes of data that take hours to turn into insight. Instead, opt for a simpler, more sustainable approach. Utilise tools and processes that allow for easy updating and interpretation of data. This might mean automating data collection where possible or using software that integrates seamlessly with your existing HR systems.
K.I.S.S.
Stop overcomplicating things, okay? An elaborate dashboard that takes hours to update each week is not just a drain on resources; it's likely to become obsolete quickly. Similarly, presenting vast amounts of raw data is rarely effective. Find one person that has time to look through a 65 page deck of data. No one? Thought so. Stakeholders and decision-makers need clear, concise, and actionable insights, not data dumps.
So what now?
To create a meaningful measurement strategy, keep these three principles in mind:
Simplicity: The best metrics are those that are easy to understand and communicate. They should provide clear insights into how well your employer brand is performing and tell a story about how all your hard work is having a meaningful impact on the business.
Relevance: Each metric should have a direct correlation to your overall talent strategy. If a metric doesn’t provide actionable insights into how to attract, retain, or engage employees (or candidates), it's likely not worth tracking.
Sustainability: Choose metrics that can be tracked and reported on a regular basis without excessive effort. This ensures that your data remains current and actionable.
When it comes to employer brands, what you measure can make a significant difference. By focusing on simplicity, relevance, and sustainability in your measurement strategy, you can ensure that your efforts are not only effective but also aligned with your organisation's broader goals.
Remember, in the realm of data, more isn't always better.
Often, it's just noise.
