Your company’s reputation is everything and can lead to potential or missed opportunities, depending on what other businesses and individuals think. This reputation, known as your brand, extends beyond advertising and earning money. Your brand also includes the way you treat your employees. Here is how your employer brand may impact your next pharma placement and beyond.
What is an Employer Brand?
Employer brands are very similar to corporate brands with one main difference: your employer brand depicts how you treat and retain employees. In short, it is how you want to market your company to potential job candidates.
For the most part, your employer brand is completely controlled by the opinions and feelings of your employees, and it will impact your ability to recruit the best talent. The best talent is sourced to the companies with the best employer brands. This brand can also impact the willingness of other companies and businesses to associate with yours.
Simply put, a poor employer brand can hurt your business in a big way.
Evaluate Your Employer Value Proposition (EVP)
Having an employee brand also typically means having an employer value proposition (EVP). A good EVP will examine the company’s mission statement, values, and culture, and give employees a reason behind going to work every day.
Your EVP should be unique and provide reasons why someone might want to join or remain a part of your team. Although an important part of your EVP, don’t focus on compensation. Instead, set your sights on creating good employee experiences. After all, that is where most of the information about your employer brand will be passed along.
To solidify your EVP, it should be communicated to employees clearly and often. A strong mission can help increase focus and morale in the workplace because everyone is clear on the bottom line. Clear missions and values aren’t the only things that make a strong EVP, though.
You also need to consider how other aspects of your work environment is impacting the value and culture of the workplace. Overall compensation, management style, work-life balance, telework options, work quality, benefits, non-salary financial perks, and ongoing employee recognition all play a hand in building a strong and positive EVP.
How a Strong Brand Can Improve Your Company
When it comes down to it, if you have built a good workplace for your employees and have a strong employer brand, you won’t have to do much else. Your employees will freely advertise how much they like working there. Most of your employer brand stems directly from what they have to say anyway.
Once people know it is a good company to work for and see how well it treats its employees, they are more likely to do business with you. This can increase the likelihood of landing the next big pharma placement or similar business deal.
Additionally, it will help you find and retain the best of the best in the industry. Your current employees will be happy to stay and continue working hard. Likewise, new candidates will know you are a good company to work for and will seek out a position with you. Learn more about building a strong employer brand by contacting our recruiters today.