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1. Introduction
The advent of globalization and liberalization has steadily increased job market competition and further intensified the war for talent hunting. Hiring and retaining new talent has increasingly become important in the continued growth of an organization. Competitive marketplace and challenging economic conditions have given rise to dearth of talent. The amount of financial burden to the firm as a result of employees leaving an organization, the subsequent hiring or replacement of employees, can be quite significant in terms of personal, work-unit, and organizational readjustments (Thomas and Terence, 1994). Investing in staff is far less expensive than replacing them, which is estimated to cost about one and-a-half years of a departing staffer's annual salary (Jacobs, 2007).
Development of a better understanding of the expectations of young graduates and the organizational characteristics that influence them during their job searches is important for organizations (Montgomery and Ramus, 2011). To reinforce their capacity to recruit young graduates, some firms have already decided to use the concept of the employer brand which can be described as the benefits associated with a job or an employer and their promotion inside and outside the firm (Ambler and Barrow, 1996). The underlying concept of employer branding is the well accepted notion that desirability of a firm depends on the potential applicant's perception of the attributes associated with it. Branham (2001) suggests considering employer branding as a means of ensuring access to potential employees. An employer brand is the package of psychological, economic and functional benefits provided to the employees by their employer (Thorne, 2004). It deals with the manipulation of these benefits to position the firm in the minds of potential employees as a great place to work (Branham, 2001). The distinctive image of a prospective employer directly affects the mind and choices of potential employees (Petkovic, 2004). Employer branding helps create a positive image of an organization, thus sending out the right message to the current and prospective employees (Smedley, 2007). Also, it is important to develop an understanding of the key attributes of the organization which will help keep the employees glued to an organization giving them a reason to keep coming back (Kottolli, 2006). According to Dell et al. (2001), employer brand establishes the identity of the...