Companies and the next generation agree on this fact: employer branding is a “relevant to the construction and real estate industry and will most likely gain in importance in the future.” A study on employer branding in the real estate industry recently published by the Berlin School of Economics and Law (HWR), for which both HR managers and potential applicants and, above all, younger employees were surveyed, only confirms this.
However, what is employer branding? And why should companies in the construction and real estate industry bother with such buzz words?
What is an Employer Brand?
To say it right away: A company’s name or reputation with its customers and within the market is simply not enough. The employer brand may include characteristics of the corporate brand. However, it definitely takes more than that: it has to convey social characteristics and basic elements of everyday work life. Above all, it has to have an impact inside the company. For nowadays, retaining experienced professionals is just as important a task as attracting interesting applicants.
Therefore, employer branding should be more than just something to put on display. With employer ratings on kununu, Glassdoor or Indeed, pure feel-good appearance no longer stands a chance. The term at the core of effective employer branding is EVP (Employer Value Proposition) – in a nutshell, this is everything that makes up the company’s attractiveness as an employer. It includes fundamental characteristics, such as the culture of interaction, but also numerous vital components from areas such as career opportunities, motivation or social attitude. We will be looking at some of these elements in more detail in future Valdivia Expert Tips.
Where are the “Construction Sites” in the Industry
Out of seventy-three construction and real estate companies which participated in the HWR study, most see their own employer branding as satisfactory at best at this point. More often than not, HR or Marketing are left alone when it comes to the task of shaping or communicating employer branding. The desirable integration of junior staff or the C‑level, on the other hand, hardly ever happens. A holistic view and the necessary vertical integration are often missing. The use of digital tools is still at rather a low level. The study participants also recognise deficits when it comes to external perception – in comparison with competitors or in the view of potential applicants.
So there are plenty of starting points. Competition for the best talents does not only come from within the company: lawyers, computer scientists, communication experts and many more have a wide range of choices in today’s labour market. Without tangible employer branding, it will become increasingly difficult to attract specialists and high potentials from the younger, upcoming generations – especially for the rather conservative construction and real estate industry.