Felix Wetzel, HR Examiner Editorial Advisory Board Contributor

Felix Wetzel, HRExaminer Editorial Advisory Board Contributor

A few weeks ago, John Sumser published “The Definitive Guide to Employment Branding” – a very useful and insightful report into this often misunderstood topic. Employment Branding is based on several well-known Marketing concepts that are tailored towards past, present and future employees instead of customers.

One of these concepts is the Marketing Mix. Most people will have heard of this tool – Marketing’s 4Ps; product, price, promotion and place (there are also extensions to 7 and 12 Ps).

At some stage, there was the realisation within the marketing profession that the 4Ps are inward focused and look at the market from a company perspective, whereas Marketing (the clue is in the name) is about a market perspective and about customer centricity. So the 4Ps became the 4Cs. Product became Customer Satisfaction (or Customer Value), Place became Convenience, Price became Cost, and Promotion became Communication.

This makes much more sense and increases the accessibility of this method. You could apply these definitions to also include the internal customer, but I think this doesn’t go far enough. In an increasingly people-centric age, where the HR function is increasing in importance and influence, a similar revolution needs to take place. HR needs to evolve from “customer centricity” to a “people perspective” – and make this its own.

I suggest the following definitions:
felix table

 

Replacing the 4Cs with the new 4Ps is essential when moving people, instead of consumers, into the centre of a company’s activities. I think this becomes even more apparent when you consider the bigger backdrop of the way Millennials interact with companies, of conversational commerce, collaboration,  personalization, and the current blurring of traditional lines between consumer, candidate, employee, contractor, supplier and investor.

What do you think?



 
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