In the world of corporate brand building, perhaps the biggest, most meaningful trend in the last 10 years is the emergence of culture as THE driving force in creating a strong reputation.
The smartest brands know that reinforcing the right behaviors inside their company is the single best investment they can make to attract great talent, deliver an exceptional customer experience and drive meaningful differentiation.
Maybe most interesting is that companies ‘walking the talk’ with their employees represent a range of industries, including some arguably un-flashy businesses.
In an Axios Harris poll, companies like John Deere and Costco, for example, came out on top because they’re taking clear actions to unite employees around their company's mission and values.
At Costco, "Seventy cents of every dollar spent by Costco goes to employee wages and the company has a 7 percent turnover rate, compared to 60 to 70 percent at other retailers."
John Deere has prioritized community engagement and implemented an active employee resource group (ERG) strategy to help reinforce their company values.
There’s evidence that other companies from un-flashy sectors are also creating thriving cultures that drive reputation and competitive advantage, such as Microsoft, Trader Joe’s and USAA.
But once you get past these leaders, I suspect many companies are missing a massive opportunity. Right now, according to Gallup, only 2 in 10 employees feel connected to their culture.
Companies that focus on driving their mission and values through the organization could find themselves in a position to attract great talent at scale that has lost a connection with their employer.