How to Measure Employer Brand & What Metrics/KPIs to Use

Summary

In this episode of *Growing Brands*, the importance of a strong employer brand for attracting top talent is explored. Host Josh discusses effective metrics for measuring employer branding, emphasizing the need to identify a primary Key Performance Indicator (KPI) that aligns with business objectives. Sean Bestor from Whole Foods shares insights on choosing relevant metrics, including brand awareness, candidate experience, and employee satisfaction. By understanding the different stages of the employer branding funnel and focusing on qualified applicants, companies can refine their strategies and enhance their recruitment efforts.

Takeaways

• 😀 A strong employer brand is essential for attracting top talent in competitive job markets.
• 😀 The primary metric for measuring employer branding should align with the company’s main business objectives.
• 😀 It’s important to differentiate between metrics (any calculable number) and Key Performance Indicators (KPIs, which drive business decisions).
• 😀 The employer branding measurement process can be viewed as a funnel with three stages: awareness, candidate experience, and employee experience.
• 😀 At the top of the funnel, focus on metrics like brand awareness, social media engagement, and brand sentiment.
• 😀 In the middle of the funnel, key metrics include cost per hire, offer acceptance rates, and candidate quality.
• 😀 The bottom of the funnel measures employee experience through metrics like satisfaction scores and retention rates.
• 😀 Choosing one main metric, such as qualified applicants, can provide clarity and focus in employer branding efforts.
• 😀 Other metrics should serve as health indicators rather than primary drivers, helping teams stay on track.
• 😀 Sean Bestor emphasizes that many companies operate with limited resources, making it vital to prioritize metrics effectively.

Q & A

What is the main goal of measuring an employer brand?

The main goal is to attract qualified applicants and align recruitment strategies with overall business objectives.

What are the two key terms defined in the script regarding metrics?

Metrics are quantitative measures supporting business goals, while Key Performance Indicators (KPIs) are specific metrics that drive business decisions in particular areas.

What does the measurement funnel consist of?

The measurement funnel includes three stages: top (brand awareness), middle (candidate experience), and bottom (employee experience).

What are some common metrics used at the top of the funnel?

Common top-of-funnel metrics include brand awareness, social media engagement rates, brand sentiment, and branded search impressions.

Which metrics are most important in the middle of the funnel?

Middle-of-funnel metrics include candidate quality, cost per hire, source of hire, offer acceptance rate, and hiring manager satisfaction.

What metrics are considered in the bottom of the funnel?

Bottom-of-funnel metrics typically include employee satisfaction scores, retention rates, attrition rates, and employer site reviews.

How does Sean Bestor suggest selecting employer branding metrics?

He suggests picking one primary metric to focus on, with other metrics serving as health indicators to maintain clarity and direction.

What is Whole Foods' primary metric for measuring success?

Whole Foods' primary metric is the number of qualified applicants, which they track both in the short term and over the long term.

Why is time to hire considered an important metric?

Time to hire reflects the effectiveness of branding efforts, as a reduction indicates successful engagement with the right candidates.

What is the suggested approach for teams with limited resources in employer branding?

Teams are encouraged to focus on a single goal rather than spreading efforts thin across multiple metrics, allowing for greater clarity and impact.