Employer branding is essentially a company’s goodwill as an employer. This is comparable to product branding, where a product becomes identifiable with a brand. The term ‘employer branding’ began to take shape in the 1990s where organizations started to be tagged as ‘great places to work’.
After the 1990s money was not the only motivation to a good job. High salary and successful career were no longer the motivating factors. Instead people wanted to work where they felt like and where they believed they would be contented. Their career was the new identification and they mould their personality likewise. Towards the beginning on the present decade young job aspirants wanted to identify with jobs that they were doing. For them career is a part of life and an identity. Money was not the prime motivator but a desire of getting identified with a career or an organization. Nearly 85 percent respondents of a survey on young workforce revealed that they were not just working for earning money.
60 percent of these respondents further asserted that work is their identity and they were is the pursuance of a career which offered them a proper work-life balance. Job security or earning money no longer remained the primary motivator for job aspirants. After the 1990s and particularly in this century, job-employee identity became paramount and aspirants started working for companies which were great places to work.
Employer branding is a conscious process where companies not only look for candidates who love their job, but offer assignments that are engaging. Further, these organizations normally have strong employee augmentation and retention programs.