YOUR BUSINESS AUTHORITY
Last month, I attended the Springfield Area Chamber of Commerce’s annual Manufacturing Outlook. I wasn’t surprised to hear a decent amount of the panel’s time focused on workforce attraction and retention. New equipment, cross-training positions, flexible schedules, higher salaries, better benefits and promoting from within were all discussed.
However, little was mentioned about the importance of having a strong internal brand to help alleviate workforce challenges – a common trend among many business-to-business industries. Over the last two years, we’ve created more than 10 times the number of hiring campaigns than in the previous decade combined. These last two years have been eye-opening regarding the importance of a strong internal brand.
What has been most revealing is the effectiveness of the hiring campaigns for companies with a strong and authentic brand.
Manufacturing companies often have many employees who may not have direct interactions with customers. An internal branding strategy helps ensure all associates, regardless of their role, understand the company’s mission and values as well as feel connected to the company’s purpose. This connection helps create a positive, cohesive culture which leads to increased employee satisfaction and engagement. Internal branding also helps improve communication and collaboration within the company – especially important in industries where there may be a high degree of specialization and need for collaboration.
By promoting a common set of values and a shared understanding of the company’s goals, internal branding can help facilitate better teamwork and more effective problem-solving, which is beneficial for attracting and retaining top talent. Companies that are known for having a strong culture and a clear sense of purpose are often more attractive to potential employees.
According to a recent survey by Glassdoor, company culture is the No. 1 factor job seekers consider when evaluating offers – by 84% of respondents.
Another study by Deloitte learned that companies with a strong employer brand are three times more likely to attract top talent, and they also have a 25% lower employee turnover rate. Employees who feel connected to their company’s values and mission are more likely to feel a sense of purpose and belonging within the organization, leading to enhanced job satisfaction and motivation.
I see four reasons why companies don’t invest in branding:
Here are four reasons why they should invest in internal branding:
With all the economic stressors businesses are dealing with, investing in a strategy with results that can seem hard to measure may appear to be a nonstarter. However, a clearly defined, strategically implemented internal brand marketing campaign can be an extremely effective tool in solving today’s unique staffing issues.
Chris Jarratt is chief creative officer and co-founder of Revel Advertising, specializing in the strategic development, design and stewardship of brands. He can be reached at email@example.com.
Heirloom Candle Bar moved; art supply thrift store Arrow Creative Reuse opened; and Rockford, Illinois-based Beef-A-Roo debuted in Springfield.