CMOs and their teams are uniquely well positioned to take a lead role in companies’ efforts to attract and retain both customers and top talent.
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Brands are now knee-deep in social and political issues that, until recently, they wouldn’t have touched with a barge pole. Conventional wisdom has it that the increasing number of consumers motivated by social values is goading brands to support the greater social good. While there is some merit to that claim, there is arguably another equally powerful vector of change: the employee. For instance, after much waffling, Disney’s position against the state of Florida’s “Don’t Say Gay” law was spurred on by pressure from its employees.
Employees are not only empowered and agitated; they are restless. More than a third of all employees (41%, according to Forrester’s 2021 Future of Work Survey) expect to look for other opportunities in the next 12 months. As companies face an employee exodus, talent acquisition and retention concerns have burst into the C-suite from the confines of human resources.
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Building a brand that attracts and retains talent — employer branding — is at the top of the C-suite agenda and is the most critical priority among CMOs, according to a 2022 Forrester CMO Pulse Survey. “Now is the time,” the CMO at a $28 billion commercial real estate company told us, when “talent is the No. 1 priority among our leaders.”
Marketing’s Next Frontier
Given marketers’ inherent expertise in building brands, there is no group better suited to contribute significantly