Employer branding might help India’s startup industry survive a projected financing winter in 2023. Investing in a strong employer brand might help Indian startups survive a fundraising winter and attract employees and investors.
Startup success depends on employer branding. Startups have no reputation, unlike established companies.
What is meant by Employer branding?
It’s the company’s image. Like consumers, employees pick a firm based on its brand. Amandeep Kaur, founder and CEO of Phoenix TalentX Branding, explained how it can help Indian entrepreneurs compete with large brands. They may create their employer brand from start.
“Define your startup’s Employer Value Proposition (EVP) first. What’s your edge? Unique workplaces, growth opportunities, or strong corporate cultures? Employees are your best brand advocates, so engage them. “Involving them in employer branding can help create a genuine and relatable brand image,” she added.
She also emphasised the value of social media in promoting your employer brand. Startups must be real on social media since most potential hires are there.
Startup Financing winter
Redseer consultancy found 50% of investors expect the startup investment slump to last 6-12 months. 2023 financing is expected to follow 2017–2020 trends, with a 2024 upturn. Redseer expects a 2024 funding rebound.
“While startups may not have the name recognition or resources offered by larger companies, they have unique advantages such as agility, innovation, and the opportunity to make a direct impact,” said Aman Jain, co-founder and CEO, Doodhvale. To compete effectively, startups should build on their compelling mission, create meaningful opportunities for their employees, and sharp growth potential.
Delphin Varghese, co-founder of Adcounty Media, stated diversified culture, growth possibilities, and a hybrid work atmosphere are essential to attract your target audience. “It is very important for brands to craft a compelling narrative that communicates its vision to the audience and add a touch of personalisation,” he added.
Conclusion:-
Employer branding is crucial for Indian startups to survive a projected financing winter in 2023. It is the company’s image, and employees choose a firm based on its brand. Amandeep Kaur, founder and CEO of Phoenix TalentX Branding, suggests that startups should create their Employer Value Proposition (EVP) from the start, focusing on unique workplaces, growth opportunities, and strong corporate cultures. Social media promotion is also essential for promoting the employer brand. Redseer consultancy predicts a 6-12 month startup investment slump, with a 2024 upturn. Startups have unique advantages such as agility, innovation, and direct impact, making them essential for competition. To compete effectively, startups should build on their compelling mission, create meaningful opportunities for employees, and have a diversified culture, growth possibilities, and a hybrid work atmosphere.
