What's Your Employee Net Promoter Score?
Are you concerned about being able to attract top talent applicants who have the core skills your company needs? If so, you are not alone. In a recent study published by the Harvard Business Review, 73% of today's CEOs face the same concerns. In order to combat this problem, many companies have created a recruitment marketing strategy that uses many of the same techniques to attract quality employees that have proven successful in attracting customers.
The Value of Employee Branding
Recruitment marketing initially began as an outward marketing strategy that primarily focused on advertising. However, with the surge of social media and the introduction of review sites such as Glassdoor, these basic marketing strategies are no longer enough. Today's employer must focus inward and develop a strong employer brand.
The Rise of Glassdoor
Without a strong employer brand, your company may have a difficult time attracting top talent recruits. A recent study shows that 69% of job applicants would decline a job offer from a company with a bad reputation, and job candidates are turning to review sites to research an employer's reputation. With 41 million new visitors every month, Glassdoor is clearly a leader when it comes to company reviews.
Glassdoor's success demonstrates why it is so important to create a strong employer brand. The HR department is not necessarily responsible for building this recruitment marketing strategy. In fact, both marketing and CEOs often take the lead in developing the employer brand. A positive brand can improve company reviews on sites like Glassdoor and create an effective employee referral program.
Many employers understand the importance of creating an employer brand and spend a great deal of time and money developing it. However, they still fail to evaluate its effectiveness. This is where understanding your Employee Net Promoter Score can help.
Calculating Your Employee Net Promoter Score
According to Netigate, an Employee Net Promoter Score (eNPS) measures "how willing the employees are to recommend their workplace to friends and acquaintances." Studies show that employers that pair NPS and eNPS can see an amazing 240% improvement in performance outcomes. Similar to the marketing Net Promoter Score developed by Fred Reichheld, Bain & Co. and Satmetrix, calculating this score starts by breaking your employees down into three categories, Critics, Passives, and Promoters.
To calculate NPS, companies use short, confidential surveys that ask employees to rate on a scale from 0 to 10 how likely they are to refer a prospective job candidate to the company. Respondents with scores of 0-6 are considered Critics; those with scores of 7-8 are Passives; and those with scores of 9-10 are Promoters. The NPS is determined by subtracting the percent of Critics from the percent of Promoters.
It is important to calculate your company's eNPS on a regular basis. This allows your company to try various strategies in-house to boost your employee score. Strengthening your employer brand can enhance your in-house employee referral program, improve your online employer reviews and ultimately attract top talent candidates to your company.
Using TalentNPS by EmployUs to Calculate Your eNPS
EmployUs recently launched TalentNPS to help employers quickly and effortlessly send NPS surveys to their employees and track their eNPS scores overtime. To receive your first 100 responses for free, please visit www.talentnps.com to learn more.