Employer brand is a company’s reputation as an employer. It is a key component of the Employer Value Proposition (EVP) for job seekers and employees in exchange for their experience, talent, and skills. Positive employer branding helps to attract and retain quality employees, who are crucial to the success and growth of the business.
The term ‘employer branding’ has been gaining significance in HR circles in recent years. In the age of social media and employee feedback platforms, most if not all job candidates search online to get the scoop on companies before deciding whether to work for them. Studies show that 75% of candidates identify a company’s reputation as a key consideration when exploring new career opportunities. To strengthen their employer brand, companies have also been investing considerable resources in their Marketing and Communications functions with involvement from some prominent brand ambassadors.
In working with many great workplaces globally, here are some of the known benefits of having a strong employer brand.
In the recently published 2020 Singapore Best Workplaces™ Insights Report, the statements ‘I want to work here for a long time’ and ‘People look forward to coming to work here’ both garnered an average of 86% in Singapore Best Workplaces, 12 points higher than the average of 74% from Singapore Rest.
Most everything a job candidate needs to know can be found online and shared on social media. In fact, 86% of workers1 would not apply for, or continue to work for, a company that has a bad reputation with former employees or the general public. Having a strong employer brand gives an organization a strong advantage in the competitive recruitment market. Companies with strong employer brands receive 50% more qualified job applicants giving the company the best choices while spending less time and effort in filling open positions.
Recent data on 2020 Singapore Best Workplaces™ show that the statement ‘I would strongly endorse my company to friends and family as a great place to work’, garnered an average of 86% from the top 10 Best Workplaces as compared with an average of 74% from Singapore Rest.
The benefits of a strong employer brand translate into financial savings through improved recruiting and employee retention including:
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To be eligible for the World’s Best Workplaces list, a company must apply and be named to a minimum of 5 national Best Workplaces lists within our current 58 countries, have 5,000 employees or more worldwide, and at least 40% of the company’s workforce (or 5,000 employees) must be based outside of the home country. Extra points are given based on the number of countries where a company surveys employees with the Great Place to Work Trust Index©, and the percentage of a company’s workforce represented by all Great Place to Work surveys globally. Candidates for the 2017 Worlds Best Workplaces list will have appeared on national workplaces lists published in September 2016 through August 2017.
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The Best Workplaces in Asia List
Great Place to Work® identifies the top organizations that create great workplaces in the Asian and Middle Eastern regions with the publication of the annual Best Workplaces in Asia list. The list recognizes companies in three size categories:
To be considered for inclusion, companies must appear on one or more of our national lists in the region, which includes Greater China (covering China, Hong Kong, Taiwan and Macau), India, Japan, Saudi Arabia, Singapore, South Korea, Sri Lanka and UAE. For the 2021 Asia List, companies ranked on the national list in the Philippines will also be included. Multinational organizations must meet the following requirements:
Multinationals also receive additional credit for their efforts to successfully create an excellent workplace culture in multiple countries in the region. The data used in the calculation of the regional list comes from national lists published in 2019 and early 2020.