Teams and companies that thrive usually have a disproportionate share of talent.

Brands that grow tend to attract a disproportionate share of brand loyalists.

What attracts talent to companies and what makes people loyal to brands?

Could it be the same 9 factors?

Acquisition: Three factors that get people to join companies or make the initial purchase.

1. Money: Talent makes decisions to join a company in part because of financial factors.  A brand that allows someone to save or make money is one to gain trial. Incentives matter to get people on board.

2. Fame: One joins a company that is well known or a company that will allow one to become famous or be recognized for their work. Brands that have good stories, provenance and history or are known to treat customers like royalty are more likely to attract trial.

3. Power:  Individuals join companies that give them autonomy or power and people are loyal to brands that enable and empower them.

Retention: Three factors that ensure continued access to talent and brand love.

1. Purpose: Talent cares about the purpose of the company and people ask about the purpose companies serve beyond making a profit.

2. Values: Over time employees stay with companies whose values they find resonate with theirs and consumers stay with brands whose values they resonate with and who show that they are valued.

3. Connection: If someone feels connected to their manager, their clients, and their colleagues they are more likely to persevere through the ups and downs of a career. Similarly, an emotional connection to a Brand ensures a greater loyalty.

Passion: Three factors that get individuals to feel passionate about their place of work and brands.

1. Freedom: Companies that recognize that they work for talent rather than talent works for them and approach talent as something they access versus own ensure that people have the flexibility and freedom to be who they are. Brands that are highly accessible and adaptable (ability to purchase and return across channels and adapt to the needs of customers ensuring freedom in how they are used and paid for) garner long term loyalty.

2. Identity: A career is part of a person’s identity as are the brands with greatest loyalty. Understanding the identity of a person also allows for customization of how they are served, treated, and grown. It is important to know that while a company and a brand are part of the identity and story of a person, they are just a part. Companies that understand that they need to fit in the story of the lives of their talent and customers rather than the talent and customers fit in the story of the company or brand are ones that thrive.

3. Growth: A career lasts for four or five decades in a world that is changing fast. Skill sets need to be continuously refreshed and kept relevant. Companies that focus on the future and constantly transform ensuring their growth will always be able to access talent since people care about ensuring they are growing and remaining relevant and will work at firms who allow them to grow skills that are valued outside the firm. By making talent highly attractive to the outside is the way to ensure continued access to them. Similarly brands that find ways to adapt and change over the years by combining their roots and wings engender long term passion.

Art Photography by Gavin Goodman

Holiday Gift Idea? Restoring the Soul: Staying Human in the Age of Data is nearly free!

My publisher HarperCollins and Amazon are running a special sale all December on the Kindle Version of my book (Only good in the United States unfortunately) which is reduced to $2.99 a copy and you can buy up to 999 copies at this 90% discounted price for friends, colleagues, your entire team, or your entire firm! You will be sent links for each book you buy which you can then include in an email or have your assistant do so. People do not need Kindles to read the book they just download the free Kindle software on whatever device they want to read it on. For less than the price of a coffee you can gift what Economist Magazine book called perhaps the best book on Stakeholder Capitalism and Strategy Magazine named Marketing Book of the Year. The hardcover is also special sale at Walmart.com for $7.50 and half off at Target.com and Amazon.com. For all the shopping versions including bulk buying, Glose e-book and more click here… https://rishadtobaccowala.com/book . If you like the writing on this free thought letter you will also probably love the book. If your company or you need buying support email me and HarperCollins will help.

Rishad’s workshops on eight different topics (Future, Change, Leadership, Growth, Re-Invention, Selling, Re-thinking Organizations for the Future of Work and Talent Beyond 2022) are customized and combined for each company and delivered live, virtually, interactively and globally to turbo charge the potential of people. Unleash, upgrade and unfurl your key competitive advantage in ways that are fast, have force and are financially prudent . More at https://rishadtobaccowala.com/workshop