Measuring ROI of your employer brand program

With the increasing global awareness of the benefits of developing your employer brand to attract, engage and retain talent it is critical that firms have clearly defined metrics to measure the ROI of their employer brand programs. In simple terms what doesn’t get measured doesn’t get managed!

Employer Brand strategies must align with overall business activities and drive organisational growth that contributes to sustainable profitable growth and shareholder value.

We would encourage senior managers to develop a ‘dashboard’ of metrics that is relevant to their organisation rather than implementing a ‘me too’ ROI measurement tool.

Dashboards provide useful ways to include human capital measures in overall performance evaluations. There is no set standard of measurements that fits every organisation, nor should there be - all organisations are different.

Cost per hire, turn over rates, absenteeism, head count, engagement levels, time to fill, retention rates, time to productivity, total costs of labour to revenue, and candidate satisfaction rates are all examples of metrics that will assist managers to measure their ROI on employer brand programs.

Other less traditional measures include promotion readiness rating, external v internal hire ratio, performance ratings of newly promoted managers and manager/executive failure rate.

Courtesy of Brett Minchington, author of Your Employer Brand attract-engage-retain, available at collectivelearningaustralia.com