Hard to think of two more contrasting organisations. Hard to think of two more contrasting brands. Hard to think about two more contrasting outcomes. Goldman Sachs up against Oxfam? No contest, surely? It shouldn’t get past the weigh-in.
When it comes to brand lustre, no one outshines Goldman Sachs. However, a quick look at its recent trading performance would suggest that all is not well. Figures released today suggest that average pay in 2011 was down 15% and fourth quarter profits declined a sizeable 56%, making it their worst year since 2008.
And Oxfam? Humble, down-to-earth UK charity, Oxfam? Bucking the high street trend, the charity turned in a like-for-like sales increase of 11% in the last five weeks of 2011. And whilst the straightened times in which we live certainly play a part, a large element of Oxfam’s success story has been its ability to broaden the appeal and footprint of its brand. Oxfam has created more welcoming, more acceptable store interiors, so opening the door to higher net worth consumers.
And the learnings for employer branding?
Things are not set in stone, either for organisations with a currently aspirational employer brand or those without such a great lure for candidates. The way you are considered today as an employer will not be same as the way candidates and employees consider you tomorrow. Work hard on your employee experience, the stories and the messages coming out of the organisation, and your employer brand has the opportunity of growing and evolving. Slow down the investment you make in and the consideration you give to your resourcing reputation, and your employer brand will belong to yesterday not tomorrow.
And whilst it’s unlikely that Goldmans will find themselves anytime soon in the shoes of another apparently unassailable giant, Kodak’s decline into irrelevance and then administration is an object lesson to us all. Brands, be they consumer or employee focused, evolve constantly. And so too should the attention, focus and investment organisations make in them.
Getting to the heart of your employee mindset 