A big question. The answer is, possibly far less than you’d first imagine.
Most employers have invested some time in their employer brand. But what
we often find is that the budget to define and create it doesn’t take into account what’s then needed thereafter to embed it effectively. And that’s where the variables are huge.
Or, on the contrary, many organisations focus budgets purely on attraction and employer marketing, without truly having understood what their People Deal (or EVP) really is.
A frustration for many talent teams, who’re trying hard to win a business case for support, is the unknown budgetary figure to request in order to do this well.
My small tip would be to answer these questions first: 1) where you are now? 2) what you need to change/achieve? and 3) what/who do you need to do it?
It might be you have a concrete steer on your propositions. You might need help discovering them. It might be you need to modernise the attraction strategy, more than increase internal advocacy or vice versa. Or you might need to reach new audiences, more than you need to alter your candidate journey.
It’d be fair to say that a fully researched and crafted employer brand with discovery, definition and creation of the People Deal could take as little as £10k or cost up to £50k+ (depending on the complexity of your population size).
But what’s needed thereafter to activate and embed the brand can’t be done for a set price or “off-the-shelf” offering. For ease, we’d often separate out thinking and budgets into four areas of the employee lifecycle, the four C’s, where the brand can take real effect:
Thinking in this way and rallying support (and budget) from your internal network, could help you get to where you want the employer brand to be. Internal Comms, engagement, marketing, culture, L&D etc. can all aid the success and ROI without heavy reliance on even more budget.
So, the true answer is, probably less than you would first imagine.
Written By Caroline Hill