Branding is the management of meaning. That meaning exists in the hearts and minds of your customers… AND your staff. Your employees will have a huge impact on creating and enhancing your customer experience and thus the meaning the customer places on your brand. Therefore any serious branding initiative needs to touch on creating employees who understand the brand and can create positive, brand-aligned, customer experiences.
Image by: dylan nolte - Source: unsplash
Ensuring you design an employee journey which helps to connect and motivate employees around 'brand thinking' is therefore crucial.
Businesses can fail or succeed on the quality of their internal processes, recruitment and culture. Getting the right people, developing them, creating an environment where they are happy and also a culture based on brand principles, will ensure you get to pick from a talent pool that wants to work for you and retain the brilliant talent you have already obtained.
But how can you get to grips with this? Wouldn't it be nice to have a simple but powerful tool to use to improve your processes, track your progress, benchmark and consider the return on your recruitment investments?
Those of you that read my content regularly will know how I love a good diagram. Everything is easier with a visual. In this post, I want to introduce you to one such helpful illustration which you can use as a tool to make massive gains in your employee experience. Here it is, it's called 'The Employee Lifetime Value' model:
The Employee LifeTime Value graph
The above graph is a typical representation of an employee's lifetime value (ELTV). The employees “value” is represented on one axis and their “time” in the business on the other. The plotted graph then represents the value of the employee overtime to the organisation. Usually, the value of the employee is set to increase over time, decreasing only when they decide to leave the business.
On most ELTV graphs employees start with a negative value. Usually, they are costing the business from the time they are offered the job until they are on-boarded and trained. As time goes on their experience in the job makes them even more valuable until they become disengaged and one day they decide to leave. At this stage their contributions to the value of the business declines.