5 Tips on Better Employer Branding for SaaS Companies
In the world of software and technology, talent shortages are an increasingly significant problem for business leaders.
Tech is evolving at a phenomenal pace, but we don’t have enough skilled people to fill all the gaps in growing companies.
While many managers assume that the easiest way to attract attention is with bigger paychecks, your online reputation could make or break your ability to get new candidates.
Job seekers in the social world are more interested in submitting resumes to employers who have positive reviews online.
The same research also shows that these people would accept a smaller salary to work for people with a good reputation. Also, a massive 86% of people wouldn’t even bother applying for a company with a bad employer brand.
An employer brand could be the best way for today’s SaaS companies to attract and retain the talent they so desperately need.
What is an Employer Brand Anyway?
Today, social media channels and forums have emerged as a go-to place to gather useful information.
People go to social media for advice on which products to buy, what companies to interact with, and most importantly, where they should work.
Your employer brand is an essential part of this new constantly connected landscape.
On a basic level, it’s your reputation as a valuable place to work, and a culmination of the perceptions that people have of you as an employer.
With a good employer brand, you can attract scores of job seekers to your door, regardless of the salary you might offer.
With a poor employer brand, you’ll struggle to capture the attention of even the most desperate candidates.
An employer brand pulls together your company’s leadership strategies, values, and culture into a marketing package that advertises you to candidates.
The reputation you build can significantly reduce your hiring and recruitment costs, build employee engagement, and drive more productivity across your team.
So, how do you get to work on your brand?
#1 Know Your Unique Value Proposition
The first thing you need to develop a strong employer brand is an understanding of what makes you special.
You probably already use unique value propositions when you’re advertising your products and services to customers.
The same strategy applies when advertising your open jobs to prospective candidates.
As a SaaS company, one excellent way to make yourself stand out is with a cloud-based business management proposition. Software as a service already relies heavily on the ability to operate in the cloud.
If you can expand your focus on this flexible approach to the working experiences that you offer your employees, then you can consider opportunities like remote and flexible working schedules.
Remote working is one of the most desirable perks that today’s tech professionals are looking for.
For instance, Cisco’s focus on virtual working allows team members to adjust their schedule to suit them, and this ensures that they get consistently good feedback from their employees.
Becoming known as a company that values work/life balance is a great way to set yourself apart from the crowd.
#2 Conduct a Brand Audit
Even if you haven’t been actively building an employer brand until now, you’ll already have some kind of reputation in your industry.
The best way to make sure you’re moving in the right direction is to ensure that you’re aware of the reputation that you already have.
Go online to find reviews that people have been leaving about you on social media and Glassdoor and create a list of all the information you discover.
It’s also worth sending surveys out to people already in your team, as this will provide you with some unique insights into how people see you.
From there, you can work on developing the image you want people to have when they interact with your brand.
Look at Google; for instance, the company makes its employee perks very public, which helps to support their employer’s reputation. They even have pages on their website dedicated to sharing information about life at Google.
This transparent approach makes it easier for people to find the information they need about working for Google without having to rely only on things like Glassdoor and forum reviews.
#3 Cultivate a Great Working Environment
Designing an amazing working environment for the members of your team requires more work than you might think.
If you want your employees to love working for you, then you need to show them how much you respect them before they ever join your team.
According to one study, about 69% of employees will be more likely to remain with an employer for at least 3 years after a good onboarding experience.
Instilling a positive image for your brand starts with an effective onboarding process. You must get your employees feeling excited about their roles from the moment that they interact with your company.
Don’t forget to pay attention to the work experiences that you offer your team members to convince them to join your team.
For instance, Ultimate Software focuses a considerable part of their employer branding strategy on providing the perks that appeal most to their target employees.
Ultimate Software knows that its roles are popular among millennials, so they offer the opportunity to work in a highly flexible, collaborative, and innovative environment – everything that a young millennial could want.
#4 Give Employees Room to Grow
Software as a Service or “SaaS” is a fast-paced and dynamic industry. The people who want to work in this space are often people that are attracted to new opportunities, challenges, and plenty of room for growth.
Combine the fact that tech employees love a challenge, knowing that the number one reason that people left their job in 2018 was that they were bored, and you can see why constant opportunities are critical to your employer brand.
Invest in educational opportunities that allow your team members to develop their skills and expand their knowledge when it comes to working in the cloud or developing software as a service.
Continuous learning and improvement will help your team members to feel as though they’re getting something valuable out of working with you (besides a paycheck).
When you invest in the developing talents of your employees, you reduce the time and money you must spend on finding extra team members to fill the gaps in your staff.
Your existing employees will accomplish more with no additional help, and they’ll be less likely to abandon your company in search of new opportunities.
#5 Share Your Story as Often as Possible
Finally, it’s essential to make sure you’re sharing your employer brand with as many people as possible, in as many relevant environments as you can.
An employer brand is there to improve the market’s perception of your business as a place that offers valuable opportunities to talented people.
Sharing stories on your blog, video channel, and even social media profiles is a great way to help your reputation gain credibility and weight.
Remember, just as it’s important to advertise your products and services in the right places, it’s crucial to promote your business to talented candidates too.
Look at Intuit for instance – a company that’s excellent at using social media to share stories about their employer brand far and wide.
Find out where your likely team members spend their time and create a presence there.
Improving Your Employer Brand
Attracting the best talent in today’s competitive marketplace isn’t easy.
However, you can improve your chances of finding and retaining the right employees if you get your reputation right.
A strong employer brand shows people why they should want to work with you and gives your team members a sense of pride when they’re talking about your company.
What are you doing to make your employer brand stand out?