Human Capital, Meet Brand Strategy.
If you don’t have a competitive advantage, don’t compete.
– Jack Welch
Where does human capital fit into your organization’s brand strategy? And how can it be leveraged to boost brand value?
Let’s start by defining Human Capital. Popularized by Gary Becker, the term stands for the collective knowledge, habits, personality traits, and creative wherewithal of the people within an organization and their capacity to transfer it into economic prosperity.
Similar to organizational intelligence but accounting for behavioral tendencies. Human capital has become an increasingly popular term in business circles today.
An important aspect of behavioral tendencies to you should consider are things like punctuality, honesty, and open-mindedness.
HUMAN CAPITAL: NOW LET’S DIVE INTO BRAND
A brand is the sum of multiple concepts. Organizational culture, philosophy, business practices, marketing and as a result the perceived value of customers and the marketplace.
Companies invest in brand design, thinking that a sharp logo and marketing collateral is creating a brand. These are certainly components of the messaging aspect of a brand. Visuals are often the first impression people received when engaging with a company or person.
The foundation for brand development has deeper roots than the visual stimuli of a business’s marketing material.
HUMAN CAPITAL: IT STARTS WITH PEOPLE
Naturally, you should begin to see how these two terms have a strong relationship to one another.
A business is the sum of its people and the thinking they use to operate. Therefore, the reputation of a brand is going to have a strong correlation to the people within an organization.
If your organization invests in human capital by educating and training employees, adopting better hiring standards and cultivating a culture of creativity each aspect of your business will start to perform at higher levels.
Your management team will start to see their ideas more clearly, your path of execution will seem straight-forward, employees will be capable of understanding the big picture and solving daily challenges utilizing creativity. Most importantly your organization will experience a singleness of purpose. That will result in your potential to maximize brand value; A requirement for all high-performance brands.
So what are you waiting for? Invest in the power of Human Capital.