Any company that aims at standing out in their niche market must ensure that they have the best team on board. With the right people for the job, a business can easily maintain perpetual growth and create new avenues for revenue generation. Still, unlike back in the yesteryears, it has become increasingly easy for people to research potential employers. For this reason, companies must take an enterprising approach towards attracting top talent. To achieve this, enterprises must ensure that they use the right avenues to uncover their professional purpose and exhibit the values they bring to the table. Although all this may seem like a tall order, the principal factor that employers need to comprehend is the relationship between two crucial facets of marketing; employer branding and leadership branding.
Employer Branding
In a nutshell, employer branding is the ability of a company to create a positive image among potential employees and other stakeholders to ensure they attract the crème de la crème. Research shows that more than 90 percent of employees consider a company’s reputation a paramount consideration when exploring new professional opportunities.
Leadership Branding
On the other hand, leadership branding is the discipline of manifesting the benefits that other parties, such as job seekers and shareholders, will get from working with your company.
Therefore, a company must show how it can actively promote the personal branding of employees and other stakeholders to ensure it attracts the top prospects. In doing this, a company creates a corporate university that aims at producing excellent executives capable of meeting your clients’ expectations. Despite this, plenty of enterprises have failed to master this vital art. For this reason, this article aims at highlighting the relationship between employer branding and leadership branding to help businesses create a conducive working environment that attracts prime stakeholders.
The Customer Remains King
Regardless of which line of business a company may be, the principal goal is always to earn a profit. The best way for an organization to do this is to ensure that its clients remain their main priority. Faced with this reality, companies must work towards maintaining customer satisfaction. Your company’s employer brand can make or break your business since the personnel hired will interact with your clients. For this reason, hiring top talent will ensure that your customers receive premium services. Moreover, establishing a strong and positive leadership brand will aid in sensitizing your company’s executives on how to meet your customers’ expectations. Leadership branding deals with developing a company’s representatives from a corporate, customer-focused perspective, ensuring that your clients’ needs remain a priority.
Improving Employee Retention Rates
Another vital aspect to consider when looking to ensure your company stays in business is maintaining a status quo. Research shows that every employee a company loses costs 30 to 400 percent of the organization’s annual salary due to replacement costs. Even so, many businesses can avoid this by promoting a positive employer brand. Doing this improves a company’s retention rates among employees, thus preventing unnecessary costs when replacing them. Similarly, enhanced leadership branding elevates employee retention rates since the company provides job seekers with additional values that aid in their professions. Employees are more likely to stick with a company that provides added skills, knowledge, and expertise to propel them in their careers.
Building Brand Credibility
Apart from customers, other stakeholders like shareholders and investors must also be satisfied by the company’s operations. In light of this, employers ought to ensure that their staff is competent enough to meet all these expectations. Hence, companies must have adept personnel capable of satisfying both customers and investors. Establishing an excellent employer brand will help bring in top talent, guaranteed to meet your client’s needs. In the same way, having a remarkable leadership brand will enable your organization to produce executives capable of fulfilling your investors’ goals. Doing this will increase the credibility of your company among customers, potential employees, and investors. Having a credible brand ensures continued growth as there are many avenues to increase revenue generation.
Boosting Employee Morale
The sentiments that employees have towards their employer are paramount in the development of a company. The success of your organization greatly depends on how its representatives feel about it. Leadership branding focuses on leadership in terms of the organization as a whole. Owing to this, companies must consider the collective leadership behavior that influences employee practices. Therefore, leadership development dictates that both customers and employees need to be treated well with regard to all their interactions with the company. Such business practices boost the morale of employees, which in turn results in improved sales. Moreover, since your employer brand depends on how you treat your employees, an excellent employee experience results in increased morale. For this reason, working on improving your employer brand can immensely boost the spirit of your employees and potentially improve sales.
Acquiring Astute Employees
Unlike what some people may believe, employees are at the heart of a company’s success. Ergo, attracting top talent is paramount for the success of any business. Developing a desirable employer brand puts companies in a better position to attract professionals who are at the acme of their field. Astute employees are attracted to organizations that value them and their opinions. Furthermore, being able to point out the perks that employees get from working at your firm also goes a long way in drawing top talent. Hence, building a desired leadership brand is also tremendously beneficial for companies. It ensures that potential employees can see how your organization stands out from the rest, which in turn lures more capable workers to your camp.
Final Thoughts
While the relationship between employer branding and leadership branding is apparent, plenty of firms have failed to incorporate the two principles to their advantage. The chief cause of this is the fact that many organizations approach the two techniques from a perspective that is detached from what the firm represents in the eyes of their clients and stakeholders. The five tips outlined above exhibit how properly incorporating employer branding and leadership branding can benefit companies.
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