Stop neglecting employer branding: How it’s costing you top executive talent

Imagine slashing your recruitment costs by half and cutting your executive turnover by nearly a third-simply by focusing on how your company is perceived by those who don’t yet work for you. LinkedIn reports that a strong employer brand can do just that. And yet, many companies let this crucial factor gather dust, sticking to outdated tactics while their industry rivals become talent magnets.

Executive search specialists like Warner Scott have seen firsthand how a compelling employer brand transforms not only hiring outcomes but also long-term executive retention.

So, what separates organisations that fill C-suite seats with top performers from those that endlessly chase resumes? What does employer branding really mean for your executive hiring success? And how do you get started on building a reputation that draws high-level leaders into your orbit?

Here’s your 5-step roadmap to winning top executive talent with employer branding. Along the way, you’ll see where financial institutions often stumble, learn how to sidestep common mistakes, and pick up actionable strategies to build a brand that senior leaders want to join.

Table of contents:

The price of overlooking employer branding
Common pitfalls to avoid
Why employer branding matters for executive hires
How to build a magnetic employer brand
Key takeaways

Let’s set off on your journey to attracting the best leaders-starting with the true cost of neglect.

The price of overlooking employer branding

Step 1: The starting point

Think of your employer brand as the first handshake your company extends to potential executives. It’s that gut feeling top talent gets about your organisation before they even open the job description. If you ignore this, you pay a steep price.

LinkedIn found that financial institutions with strong employer branding reduce their recruitment costs by up to 50% and see turnover drop by 28% (LinkedIn Business). Now, imagine hiring for a senior compliance role or chief digital officer position-roles that often cost six figures and months of search time to fill. When your brand fails to spark interest or confidence, vacancies stretch on and hiring budgets balloon.

But it’s not just about dollars and days. The opportunity cost is even greater. Teams go without leadership, projects lose momentum, and your competitors quietly snap up the talent you need to win the next market battle.

Ask yourself: what does your employer brand say to an executive skimming your company’s profile at 11 p.m. on a Sunday night? If it says nothing, you’re already losing the race.

Common pitfalls to avoid

Step 2: The next milestone

Most companies think a slick careers page or an expensive recruitment ad solves everything. But top executives are looking for more than surface-level polish. Here are the frequent missteps that can cost you dearly:

Underestimating your brand’s power

Too many firms treat employer branding as optional. But research from Glassdoor and Universum shows that organisations with compelling brands attract up to 50% more qualified applicants and cut their cost-per-hire by 43% (Universum Global). Ignore this, and you’ll find yourself paying more to fish from a smaller, less impressive talent pool.

Faking authenticity

A career site packed with stock photos and generic promises won’t convince a seasoned leader. Executives want to see what your company is actually like-warts and all. Real employee stories, candid leadership videos, and transparent information about culture and values make a powerful impression (Vouch). Think about tech firms like HubSpot, where employees openly share both challenges and successes, creating a credible, relatable image.

Neglecting engagement

Employee engagement and employer branding are joined at the hip. Engaged employees become your best brand ambassadors, online and offline. Regular surveys and open feedback channels not only boost morale, but also give you real data to refine your branding efforts (Universum Global). Ignore engagement, and your best stories never get told.

Overlooking the candidate experience

Remember, every touchpoint matters. If your application process is slow, opaque, or impersonal, top executives will feel it. Leaders expect speed, transparency, and respect-and they have plenty of other options if you fall short (Level Up HCS). Make it easy to say yes, and you’ll turn candidates into advocates, even if they don’t join you right away.

Why employer branding matters for executive hires

Step 3: Building the case

In finance and technology, trust is currency. Clients and employees alike place huge weight on reputation, expertise, and integrity. For executives, your employer brand isn’t just an HR campaign-it’s a critical filter in their decision-making process.

As global banks and new fintech startups fight for the same pool of leaders in data science, compliance, and digital innovation, your brand becomes the difference between attracting a visionary CTO or losing them to your nearest rival (Level Up HCS). Data from the Conference Board confirms this: when companies invest in employer branding, they not only draw in better candidates but see improved retention at all levels (Conference Board).

Let’s take a real-world example: Consider Goldman Sachs. Their employer brand is built on transparency, high performance, and global impact. Senior leaders know what they’re signing up for-and the company’s consistent messaging helps it keep a full pipeline of executive applicants, even in fiercely competitive markets.

How to build a magnetic employer brand

Step 4: The action plan

Ready to transform your reputation into your secret weapon? Here’s how you can make employer branding work for you:

Define your value proposition

Start by articulating exactly what makes your company a great place to work. This goes beyond perks and pay. Think culture, purpose, opportunities for impact, and what you stand for (Medium). If you’re unsure, ask your current executives why they stay-and why others have left.

Put leadership front and center

Executives want to see visible, relatable leaders. Make sure your leadership team interacts with employees and shares their perspectives publicly. This builds trust and makes your internal culture real to outsiders (Vouch). Look at what Satya Nadella did at Microsoft-by being approachable and engaging, he transformed the company’s internal and external image.

Use every channel

Don’t just rely on your website. Potential hires are everywhere-on LinkedIn, at conferences, reading industry news, or attending webinars. Share your story across platforms (Medium). Host roundtables, invest in social media, and encourage employees to share their own experiences.

Measure and refine constantly

You can’t manage what you don’t measure. Track metrics like application rates, candidate drop-off points, and employer review scores on platforms such as Glassdoor. Use this data to pivot and improve your strategy (Vouch). The companies that win the best talent are those that iterate, not those that declare victory and stop.

Key takeaways

Prioritise employer branding to attract and keep top executive talent.
Showcase authentic employee and leadership stories to build trust.
Engage your workforce and encourage them to become brand advocates.
Streamline your candidate experience for speed, transparency, and respect.
Track and adapt your employer brand strategy using real data.

Neglecting employer branding is more than a missed marketing opportunity; it’s an open invitation for your rivals to scoop up the leaders you need most. If you want to fill your executive bench with visionaries, not just resumes, make employer branding a leadership priority instead of an afterthought.

Are you ready to own your company’s reputation? Will you take the first step toward building a brand that top executives cannot ignore? Or will you let your competitors define your story for you?

Employer Branding in Financial Services: FAQ

Q: Why is employer branding important for attracting top executive talent?
A: Employer branding shapes how potential candidates perceive your company as a workplace. A strong employer brand not only attracts high-caliber executives but also helps reduce recruitment costs and speeds up hiring, making your firm more competitive in securing top talent.

Q: What are common mistakes companies make with employer branding?
A: Common mistakes include underestimating its impact, lacking authenticity in communications, neglecting employee engagement, and providing a poor candidate experience. These missteps can lead to higher turnover, increased hiring costs, and lost opportunities to attract qualified executives.

Q: How can financial institutions build a compelling employer brand?
A: Start by defining a clear Employer Value Proposition (EVP) that highlights what makes your workplace unique. Involve leadership in promoting your culture, use multiple channels (website, social media, events) to communicate your brand, and share authentic employee stories to build trust.

Q: How does employer branding affect recruitment costs and employee retention?
A: Strong employer branding can cut recruitment costs by up to 50% and lower turnover by 28%. It attracts more qualified applicants, shortens vacancy periods, and encourages employees to stay longer, reducing the financial and operational impact of frequent hiring.

Q: What actionable steps can organisations take to improve employer branding?
A: Regularly measure employer brand effectiveness through application rates and feedback. Adjust strategies based on data, ensure leadership is visible, provide a positive and transparent candidate experience, and keep employee engagement high with ongoing surveys and open communication.

Q: How can authenticity be demonstrated in employer branding?
A: Use real employee testimonials, showcase day-to-day experiences, and ensure all communications reflect the true culture and values of your organisation. Authenticity builds credibility and helps attract candidates who are genuinely aligned with your company’s mission and environment.