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Invest in Your Internal Brand

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Once you have budget to invest in your brand, you may be wondering if it is best spent on a local television commercial or an ad on YouTube. Instead, we encourage you to consider investing in your people!

Google, for example, has spent little on advertising and more on its employer brand. Its main focus is on getting and retaining the best employees, knowing customers will follow. Google invests in its people and its “People” team by paying some of the highest salaries, giving out the best perks and having the most stringent hiring process. As a result, its team morale improves, workers are engaged and there is less turnover. In addition, Google employees brag about the investment, which is organic marketing at its finest.

AETNA, the health insurance company, offers another great example of a company investing in its employees. On April 30th, AETNA announced a raise to its lowest-paid workers to $16 an hour.  Mark Bertolini, CEO of AETNA, believes the raise could pay for itself by causing workers to be more productive. Approximately 5,700 employees will be affected by this pay raise, including people who have made ends meet by seeking public assistance such as food stamps or Medicaid for their children. Although some people are skeptical about this tactic, Bertolini stays firm in his belief that it is the right thing to do and many people agree.

A few weeks before AETNA’s announcement, Gravity Payments’ CEO Dan Price also gave his employees a pay raise.  He cut about 90% from his salary, nearly $1 million, and gave it to his employees. Not only is he getting widespread media attention for the pay raise and his sacrifice, but he is developing a stronger company culture.

LVM hopes that you find these stories inspiring! Investing in your internal brand is a new way to think about branding and a great way to improve the lives of your employees. For more information about branding, contact us at info@lavozmarketing.com.

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