By understanding the complex challenges faced by every generation, companies can nurture cohorts of employees who confidently leverage their networks of influence to enhance brand reputation, explains Director of Corporate and International, James Harris.
People are the most important part of any business. They are crucial to every aspect of how a business functions and excels, but what can often be overlooked is their role in corporate reputation.
Every employee has a network of influence – some small, some big – but ultimately, these personal networks matter to businesses. Looking after your team is not just about encouraging motivation and productivity – it’s also about having a workforce that enhances the reputation of your business. In turn, this attracts partners, suppliers, consumers, and the industry as a whole.
On the flipside, disgruntled employees can wreak reputational havoc. According to a report by employer review website Glassdoor, companies should expect a torrent of ‘revenge quitting’ in the next year, which could be a reputational time bomb. Add the power of social media, where a disgruntled ex-employee can air grievances publicly, and the risk only grows. According to Glassdoor, almost two in three (65%) of employees feel stuck in their roles, making them more likely to lash out if they leave on bad terms.
Accelerating advocacy
When companies recognise the unique challenges employees face, and bring in meaningful support, they create a workforce that feels valued, engaged, and motivated. And this has a ripple effect. Employees who feel looked after are far more likely to advocate for their workplace through their networks of influence – whether that’s through word of mouth (in and out of work), social media, or other channels. Team members who enhance your company’s reputation through their networks should be embraced, but how do companies get more insular characters to play a supporting role in communications?
As we all know, no two employees are the same. We’re all subject to different influences that play a part in who we are and how we communicate, and there are noticeable patterns that emerge from generation to generation.
A spotlight on Gen X
Let’s take a look at Gen X, for example. This generation is in a unique position, having lived through a huge amount of societal change in their lifetime. As the ‘internet generation,’ they’ve witnessed the birth of modern technology and its accelerated development into the tech we use today, with famous Gen Xers Bill Gates, Elon Musk, and Jeff Bezos at the helm. Like other generations, they’ve also experienced the hardships associated with economic uncertainty – redundancies and depleted savings during the 2008 recession, and now high interest rates and the cost-of-living crisis. Then there was the global pandemic, with Gen Xers facing reduced wages and caring for their elderly parents.
These stresses and strains have impacted the concerns and priorities of Gen X, with our research showing that health and wellness is the top priority for this age group – 41% of respondents said they are mindful of their mental health, fitness and nutrition. The second-biggest concern among this age group is financial security, with 29% saying they are focusing on retirement planning and getting the most out of savings and investments. Older Gen Xers are keen to travel and enjoy new experiences (24%), demonstrating a more ‘live for the moment’ sentiment.
Research suggests that Gen X is the most stressed generation, juggling multiple responsibilities at work and home and close to burnout. Many are caring for aging parents while still supporting their children (some still living at home) while trying to keep their career going amid financial insecurity.
So what does all this mean for building advocates?
Companies with a successful employee advocacy programme are 58% more likely to attract – and 20% more likely to retain – top talent. Plus, while only 3% of employees share content about their company, those shares are responsible for driving a 30% increase in the total engagement a company sees. But for employees to be advocates, businesses must first look after them.
According to global analytics and advisory firm, Gallup, to effectively support this generation, businesses need to take a holistic approach, encompassing five key wellbeing areas:
- Career: Offer professional development, mentorship programmes, and training to help Gen X employees continue growing and feeling valued in their careers. Recognise and reward their contributions and help leaders to make an impact.
- Social: Gen Xers can act help build relationships between younger and older colleagues, so encourage team-building or mentoring opportunities to build connections across all generations.
- Financial: Support financial literacy with resources on retirement planning, savings strategies and investment options. Offer a full employee benefits package on top of a pension – benefits like health insurance could be of particular interest.
- Physical: Encourage healthy habits and stress management through everyday wellness initiatives, flexible working, and mental health support.
- Community: Create opportunities for Gen X employees to get involved in corporate social responsibility and community engagement activities.
Today’s consumers, of all generations, are more likely to buy from businesses that they believe are fair to their teams, suppliers, and the planet – highly trusted companies outperform others by up to 400% in terms of market value. By truly understanding what makes your workforce tick, and supporting them accordingly, companies can create trustworthy, authentic advocates for their brands.
By investing in their workforce, businesses win twofold by reaping the benefits of a more united, valued and supported workforce who are more productive both inside and outside the organisation, using their own networks of influence to boost brand reputation.