5 Reasons Why Insurance Employer Branding is Important
Employer branding is vital to all businesses (especially insurance employer branding).
Through branding, you establish a professional image for your business.
You also go a step further to tie emotions or sentiments to your brand. As important as it is for you to create a positive, relevant brand in relation to your customers, this is equally vital for attracting and retaining talented staff members. Insurance is a service industry, so the individuals working for your company play a vital role in profitability and overall success.
The Impact of Company Culture on Insurance Employer Branding
Branding can be established and shaped through a solid, well-designed marketing strategy, and it also may be enhanced through the corporate environment or culture that you create.
For example, a positive company culture that is focused on a progressive, flexible work environment can brand your company as being a forward-thinking and trusting employer that is unlikely to micromanage its employees.
On the other hand, a company with a traditional office environment may brand itself as being less flexible with regards to work hours, telecommuting, and other aspects of employment that many of today’s workers are concerned about.
Creating an Employer Value Proposition
Your employer brand runs deeper than your company culture. It also speaks to your company’s ethical standards and values. For example, a green company presents an image of caring for the environment and being concerned about the community.
Many employees today want to work for a company that shares their own values and that is concerned about similar causes. Therefore, creating an employer value proposition may be an effective way to improve your employer brand. For example, many workers in the insurance industry want to work for an ethical, compassionate company that truly supports and cares about its employees as well as its customers.
Top Reasons Why a Strong Employer Brand Is Important
Creating strong insurance employer branding is not done overnight. It requires focused attention and significant effort. When you spend time and energy focused on developing and enhancing your employer brand, you will benefit from it. Here’s how:
1. Easier and More Effective Recruiting Efforts
When your company has an excellent employer brand, you may find that talented individuals actively seek out employment opportunities with your company. For example, they may immediately think about the great things they have heard about your company and visit your website directly to search for openings. This is in comparison to the company having to post an ad for a job description online and hope that the ideal candidates apply.
2. The Ability to Save Time and Money on Recruiting
When top candidates actively look for job openings within your insurance company, your HR staff members may not have to spend as much time and resources trying to fill each position with talented, qualified individuals. In some cases, current employees who are proud of their company may recommend you to qualified candidates so they apply to open positions. Their personal referrals may help you to find quality candidates more easily.
3. The Enhanced Ability to Recruit Talent Aligned with Your Company’s Beliefs
When a company has an unknown or miscommunicated brand, you may hire more individuals who do not share your company’s beliefs or ethical standards. Individuals who receive a job offer from you may not know what to expect, or they may have a false notion of what your company’s work environment is like. On the other hand, a strong employer brand may draw like-minded individuals to your insurance company.
4. Improved Talent Retention Rates
Many workers want to know that their work is meaningful and important. More than that, they want to enjoy the environment where they spend the better part of their waking hours each week.
Allowing your employees to telecommute and investing in the right technology and software to do so will make you a keeper. While you will need to spend time setting up the technological infrastructure for effective telecommuting, this type of flexible work environment can be instrumental for great retention rates.
Your corporate environment and employer brand both speak to these factors in incredible ways. Keep in mind that valuable company resources are spent on training new workers. Therefore, the ability to retain talent can improve your company’s bottom line.
5. Greater Employee Engagement
You understandably want your employees to contribute positively to the company and to be as productive as possible. When employees feel passionate about the work that they do, they may be more inclined to work harder, to provide better customer service and even to offer creative, helpful suggestions. Employees feel more passionate about their employer when their ethical values and visions are aligned.
How to Improve Your Employer Value Proposition
Now that you understand how important it is to develop and maintain a strong employer brand, you may be ready to improve your employer value proposition. There are a few effective ways to accomplish this. For example, you may improve your corporate environment or internal culture.
For example, your insurance company’s external marketing about social awareness, energy conservation or other matters can make a crucial difference.
Using social media platforms effectively, releasing regular blog posts about your work environment, incorporating videos of satisfied employees on your website’s careers page and more may also be effective.
Shaping your insurance employer branding can have a profound impact on your company in critical ways. Would your company benefit from an improvement in this area? Leave your feedback below to share with other readers.
This article on insurance employer branding was contributed by Ashley Wilson. Ashley is a digital nomad and freelance writer from San Diego, California. When she is not busy baking cupcakes, Ashley loves writing about business, digital marketing, and finance. Connect with Ashley via Twitter