The headline may actually come as a shock to many readers. The success of a business is dependent on the products and the marketing, but we haven’t mentioned it in this case! The common belief amongst most corporate employees is that HR is a cost centre that just onboards employees and takes the tough decision of laying them off. In fact, it is quite the opposite. HR is one of the most important functions for every consultancy, manufacturer and any other business (even in a Financial Services firm). Similarly, good PR is also an indispensable part of a successful business. Let us go through to points below to know more.
For most companies, there are 2 key aspects that are important for doing more business – their products and their employees. Initially, products are invented by a few key people, but after a few years, it is the vast majority in R&D, who build better products. It is these products that get an organization more sales and profits. Similarly, in order to get more business, it is the sales team which has to go out and convince more clients to come and invest their money with them. Your entire organization is depending on the HR to attract the right kind of individuals who can perform better, come up with better products and sell more products.
In order to attract the best talent, the organization must have an image of being the one of best place to work for. A positive image helps in marketing your brand and product as one that is superior to others. Once someone is convinced of your product’s superiority, they are your loyal customers. This is the work of PR. Public Relations experts help you connect with the right people, the influencers with millions of followers. These influencers help you to shape the narrative in favour of your brand. This will be helpful in attracting consumers and employees.
An important point that is missed quite often is that HR is not just the responsibility of the Human Resources Dept – it is the collective responsibility of everyone working in the company. People who leave an organization are usually changing their bosses’ and not anything else. It is how one gets treated that defines his mood, his behaviour and his attitude towards his workplace. If everyone does not practice what is preached, then the company’s strategy is bound to fail. The HR can intervene, but it isn’t possible to do this on a daily basis.
Google is the best example for this strategy. Apart from being one of the most innovative companies of all time, it has successfully used PR & HR for making itself the best employer and the best listed business. While it was still a young company, Google made itself popular by getting popular influencers and celebrities to use it and quote it in their interviews. The same is done by many internet companies by tying up with internet celebrities. Whenever a celebrity was asked about where he learnt about something, he just said “I Googled it!”.
When it came to attracting the best talent, they were able to attract passionate people as they were into cutting edge tech products. They also recruited people right off the campus, people who were focused on their core ideology and not just the ones who had good grades.
This philosophy that Google followed was important for them to attract clients, investors and employees. How else does one explain Google becoming one of the most valuable companies in a short span of 19 short years? This philosophy is nothing but a well thought out business strategy.
Crafting a business strategy while starting a company is essential. At least having an idea of what you would want it to look like is necessary. The recent history of Google serves as a great example for working on the same.
BSE Institute Ltd (BIL) is a subsidiary of the Bombay Stock Exchange that offers multiple short term and long term courses that help entrepreneurs and executives excel at their organizations. BIL takes full advantage of being at the centre of India’s financial district and designs courses on Banking, Finance, Strategy, Insurance, etc. for students, professionals and senior executives to learn from. It offers a short term course on Business Skills for Working Professionals. Click on the link to know more.
The HR & PR is a pull marketing strategy that has been used successfully by many across the globe. It is not at all expensive and can be used easily to grow a business. Using the same functions that every organization uses has helped corporates differentiate themselves and grow