A positive workplace culture can improve employee retention and attract top talent. This can lead to increased productivity and a better brand image. A study by Glassdoor found that companies with a strong culture had a 13.9% higher employee retention rate.
But having a healthy company culture can be good for the business’s brand image as well which eventually affects marketing and sales. Here are 4 examples of internal company ethics that can improve branding:
1. Promote Diversity and Inclusion
Companies that embrace diversity and inclusion have been shown to have a positive impact on brand reputation. A study by Kantar found that brands that are seen as inclusive are 1.7 times more likely to be considered innovative and 1.8 times more likely to be perceived as trustworthy.
2. Encourage Employee Development
Providing opportunities for employee development can boost employee satisfaction and engagement. Things as simple as letting employees pursue further education or hobby can lead to increased productivity and a better brand image. A study by Gallup found that companies with engaged employees outperform those without by 202%.
3. Practice Corporate Social Responsibility
Companies that prioritize corporate social responsibility (CSR) are often viewed more favorably by consumers. A survey by Cone Communications found that 87% of consumers will purchase a product because a company advocated for an issue they cared about.
4. Maintain Ethical Business Practices
Transparency and ethical business practices are essential for building trust with customers. A study by Label Insight found that 94% of consumers are likely to be loyal to a brand that offers transparency, and 73% of consumers are willing to pay more for products that offer complete transparency.
In conclusion, implementing good internal company ethics can have a significant impact on brand reputation. By promoting diversity and inclusion, encouraging employee development, practicing CSR, maintaining ethical business practices, and fostering a positive workplace culture, companies can improve their brand image and build stronger relationships with their customers.
But to optimize the positive effect of the internal good company culture, the brand needs a way to communicate it to customers and partners. Gratitude can help. Gratitude enables businesses to become transparent by being powered by blockchain technology, with easy-to-use tools to record their supply chain, narrate the story, verify on blockchain and present the data in a beautiful landing page that can be issued via Gratitude’s QR Code or URL that can be placed on a physical product or embedded on digital marketing campaign. Customers can then simply scan the QR codes placed on the product or click the link on a digital campaign and clearly see the product’s journey, verify sustainability claims, or even company culture and stories that the company wants to reveal to the customer.
Begin your business’ true transparency journey by implementing Gratitude to unlock the hidden value of your supply chain data. Talk to our representatives via the following channels for support or assistance in implementation:
Website : https://more-gratitude.com
Twitter : https://www.twitter.com/more_gratitude
Linkedin : https://www.linkedin.com/company/more-gratitude
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Medium : https://www.medium.com/@more_gratitude
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