A worker shortage might be excellent news for the economy! Maybe, just maybe, firms will awake and see workers’ substantial contribution to their success. Some CEOs take unconscionable sums and destroy their firm’s value, unlike many frontline workers who create value. During the pandemic, CEOs took vast sums as they laid-off workers. Some firms sought bankruptcy protection, but hat didn’t stop their greedy CEOs from snatching hefty bonuses.

We have a worker shortage and firms are scrambling to hire whomever is willing. Some firms, like McDonalds have paid signing bonuses. Canada’s Loblaw and its competitors paid a bonus to frontline workers when the pandemic began. They stopped it after three months in unison with their competitors. When government confronted them about this collusion, they claimed it happened independently. Go figure! It’s like you caught your three-year-old with her hand in the cookie jar and she said, Mom, “Cookie Monster did it!”

Worker Shortage Inevitable With Shoddy Treatment

Loblaw’s behavior disturbs me. During the bonus period, profits soared. Per se, that’s no problem. I favor firms making profits. To be sure, I am against government taxing profits. But paying workers the bonus during the pandemic shouldn’t hinge on profits. It was just right. Meanwhile, my wife and I shopped at a Loblaw store and workers continued their excellent service despite Loblaw’s slight.

Leaders must realize frontline workers are the firm’s foundation and treat them well, not as cogs turning out CEOs bonuses! When employers treat workers like machines, they disengage. Gallup said, over several decades, they and other researchers found a strong link between employees’ workplace engagement and the company’s overall performance. Yet employers refuse to accept this. But there is good news: surveys show some firms break the mold and treat workers with respect: Cisco, Apple, Accenture, IBM, FedEx are a few.

Next Quarter’s Earnings Drives Businesses

Companies see next quarter as the prize, so they exploit workers and fudge next quarter’s numbers. I repeat: I am against government taxing business. However, I favor the Biden Build Back Better provision to tax share buybacks that the House passed, and it is before the Senate, even if it might have only a modest effect on share buybacks. Companies shouldn’t be spending billions buying back shares while exploiting workers.

Firms should present to shareholder meetings options to use buyback funds. Choices might include effects of paying bonuses to frontline workers with buyback funds. Shareholders should hear about potential strategic investments, too. Another option is stopping buy-backs for five years after layoffs. Executives, too, shouldn’t get bonuses within five years of layoffs. We must get rid of worker exploitation that enhances CEO bonuses.

Houston made the short list of cities under consideration for the 2012 Olympic Games but ultimately lost out in the final culling. But then, regarding the 2016 Olympics, Houston didn’t even make the short list. This despite having the best collection of physical assets and excellent leadership. In 2006 I wrote an article for the Houston Business Journal about this Olympic site selection review.U.S. Olympic Committee Board Chairman Peter Ueberroth said of Mayor Bill White and Harris County Judge Bob Eckels, “They were spectacular. They were in a class by themselves in terms of administration. They were just so far ahead of any other city, it wasn’t close…. If that were the only criteria, they [Houston] would have won.”But Bob Ctvrtlik, the USOC’s vice president, international, and a member of the International Olympic Committee, said, “We were confident that Houston could host an Olympic Games,… It was mostly that their (IOC members’) vision of Houston was more undefined.”Defining an organization’s identity.Houston has an undefined identity. Is Houston the Bayou City, Enron City, Space City, Energy City, Clutch City, Gateway City, Hot City, or the Fourth Largest City? Houston has so many impressive sets of facts it is mind boggling. In order to have a preferential feeling about a company or a city, audiences first need to be able to associate it with an identity that makes sense of that myriad of facts.A city, like a company, needs coordinated leadership to develop its unique identity -an identity that is compelling, that positions the city favorably, that resonates with individuals worldwide.Selling versus branding.This is not accomplished by “selling” the company or city, which is a push strategy, but by “branding” the company or city, which is a pull strategy. More like a magnet than a bulldozer. The dynamics are different. It’s not about “what we have,” it’s about “who we are.” If energy and leadership were brought to that issue as well as the issues of infrastructure and venues, Houston would have been able to compete in that intangible area, which, as we see, can be 51 percent of the score.The Houston 2012 Foundation spent five long years of dedication and hard work putting together an airtight plan, head and shoulders above the competition. And the 2016 effort was more of the same. And they succeeded in achieving that goal. Apparently however, all their effort was focused on the area which counted for only 49 percent of the score: the technical, financial and functional aspects of the event (tangible). And it is understandable, that is the area which all “rational” people would agree is the most critical.Illogical decision, as Spock would say.This is why, professing rationality, many are shocked at the decision, which “just doesn’t make sense,” because it appears to be completely irrational. That’s the point. Most choices are not rational per se, they are emotional, based on feelings. Apparently 51 percent of the score came from the area of image and identity (intangible) –what the judges felt about each city.This is a fact that successful businesses like Starbucks, Mercedes and McDonald’s understand well.Tangible versus intangible effects.But many are uncomfortable trying to deal with intangibles. They would rather focus on material things. As difficult as it is, it is easier to build venues than to build a brand. Even though every day in the business world we see products bought because of intangible assets they bring to the table, which outweigh the tangible assets of competitors. Indeed, we buy them ourselves. Is Evian better bottled water than Acme bottled water? How does it justify the higher margin? Successful branding. A preferred brand invokes a power that is greater than the sum of its tangible facts. It has emotional content and provides a contextual framework and wisdom that extends beyond logical rational analysis. It yields higher margins, increased sales, remarkable customer loyalty, and the choice of champions.In competitions where humans choose, the best brand wins. On the store shelf, in the corporate board room and in politics, people champion the best brands. Frequently it comes as a shock to both participants and onlookers. The brand which best resonates with those deciding, wins, even if it has a lower score on the list of tangible assets.Influencing decisions.The power to influence decisions is often associated with force, the ability to make someone do or think what you want them to do or think. But we see clearly here that facts are not strong enough to change opinions or influence decisions where powerful intangible considerations are in the mix.

How To Get Your Brand Out Onto The Market

How often do you meet someone and then don’t remember their name after they tell you? For most of us this happens often. We need to ask again, ask around or wait till we see them again to learn their name once more. With business branding you never want this to happen. We want them to know and remember. Discussed below are ways to get and keep your brand recognition.

Get Out There and Show Yourself

Once you have developed a brand you are confident represents your organization well, get out there and show it off. Introduce yourself and expose your products/services as the brand they represent. The only way business and consumers will learn to know your brand is by putting it out on the market. Tell buyers, investors, and employees again and again who you are. Don’t let them forget and don’t be reserved, take risks!

A great example of brand recognition is Burt’s Bees. Their most famous product is their Burt’s Bees Wax Lip Balm. The business’ roots started small, but grew when they became known for their natural, effective, non-toxic ingredients. Burt’s Bee’s shaped their brand around the benefits of natural topical products. This natural, healthy attitude resonated not only in their products but also with their employees’. When consumers hear and see Burt’s Bees they think nothing but natural health.

Network Your Brand

When you meet anyone give him or her a card with your business name, and contact information. Tell them who you are and what you represent. In exchange ask them for theirs as well. People like others who aren’t to self-centered. Ask for there information as well and shows you’re open to two-way communication. It also implies that you’re willing to become a member of their network.

If we refer back to the Burt’s Bee’s example, simply selling his products brought profit, but once he had non-profit organizations behind his brand, other contacts formed and sales boomed. Burt’s Bee’s is now an active participant in and backed by many other ‘live green’ organizations, developing higher credibility and greater communication.

It’s important in this competitive world that people know not only your name, but also what your business represents. Tell them and tell them again what your business is all about. From this process you begin networking your business and its brand. Be on the look out for other organizations that can share or support your objectives. If you see they can benefit you, they are going to want your benefits as well.