Report On “Personal Branding impacts on Business development: High-level employees’ perspectives”
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Ho Chi Minh City, October 10th, 2019, Navigos Group, the leading provider of recruitment services in Vietnam, published a report on: “Personal Branding impacts on Business development: High-level employees’ perspectives”. The report was conducted based on an analysis of the results of a survey of senior-level candidates, in particular from the managerial level in the PRIMUS data, a product of Navigos Group.
PERSONAL BRANDING: POSITIVE IMPACTS AND CONCERNS
1. While it is expected to be increasingly important, senior-level candidates still define “Personal brand” associated with individuals in the field of entertainment or society.
86% of mid-level candidates and senior managers participating in the survey said that, according to their observations, the personal brand was playing an increasingly important role compared to 5 years ago.
When asked about their understanding of a “personal brand”, 92% of respondents said they understood the concept at different levels. However, 50% said that personal branding only benefited people working in entertainment or social areas. Only 47% of respondents said the definition of a “personal brand” referred to those working as spokespeople for an organization or leading experts.
2. Personal branding helps build personal credibility, thereby bringing a positive impact to the organization
These respondents thought the “personal brand” helped build credibility and asserted their value in the market, which in turn brought trust to their business’s partners and customers, as well as new business opportunities. In the opinion of senior-level candidates, the most positive effects that an individual brand brought to the activities of an organization included: Company and products/services known to customers/public (27%), Increase employee engagement with the organization (26%), Promote the employer brand through the personal brand (21%)
CHALLENGES IN BUILDING PERSONAL BRANDS
1. High-level candidates invest in a personal brand because they want to receive benefits from their relationship network, emotional or material point of view
Senior-level candidates have selected the top most important reasons for them to invest in personal branding, including To build a network of relationships, To promote connections, cooperation, exchange, To be different, stand out from the crowd, To create a fuller and happier life, To create wealth, directly or indirectly.
2. “Defining purpose” is the most important factor when building a personal brand
According to senior-level candidates, the top 3 most important factors when building an individual brand were: clearly defining the goals of personal branding (19%); a network of relationships (18%); the influence of personal brand on the community (12%).
When asked about personal branding obstacles, the causes were all indicative and related to a lack of direction. Accordingly, the causes of obstacles in turn are: Do not know the method for building personal brand (22%), Not enough commitment to pursue personal brand for a long time (22%), Do not receive support from the business to build personal brand (18%), Fear about the unwanted effects of personal brand on life (18%), Not confident of building personal brand (12%).
3. Potential abusive behavior leads to negative impression to personal branding
When asked for their views on the negative aspects of personal branding, the top 3 most voted factors were related to abusive behavior. The views were fake or unrealistic notions of the individual brand (19%); individuals spending too much time building their image instead of focusing on things that made more sense for the organization or community (19%); unethical and exaggerated acts aimed at self-promotion (18%).
PERSONAL BRANDS AND CAREER PROSPECTS
1. High-level candidates will continue to invest in personal branding
Up to 87% of senior-level candidates planned to continue investing in personal branding over the next 5 years, of which 58% would invest strongly, 29% would continue to invest more and 10% would continue their current investment. Only 1% of candidates said they would invest less and 1% would not invest in this.
2. Personal branding has a positive impact on the personal career and business brand
Assessing the impact of a personal brand on their careers, more than half of respondents (54%) said their brands were currently very good and had helped them achieve success in their careers. 28% of respondents said their brand was not strong and attractive enough to help them become more successful. 10% say they did not have a personal brand and that was normal because personal brands did not affect their professional development.
Regarding the impact of personal branding on an organization, 77% of high-level candidates said their brand offers many benefits to their organizations.
3. The digital age and “flat world” are driving a stronger need for personal branding
“Personal brand” will grow stronger and stronger because of the development of the digital era and flat world: Firstly, advanced technology with unlimited connections (making it possible for users to build their brand in terms of depth and width easily). Secondly, globalization is increasing (no barriers between language, cultural perspectives, social values, etc. offers the opportunity to freely increase the personal brand identity. Thirdly, the younger generation was creating a more open and connected culture in the digital community (Gen Y and Gen Z are the generations who were born and grew up with technology and digitization). Lastly, the rise of a freelance generation that will be supported by personal branding (internet, technology has opened up job opportunities, as well as the flexibility in time and space leading to an increasing trend to working as a freelancer).
SUGGESTIONS FROM NAVIGOS GROUP
Mr. Gaku Echizenya, CEO of Navigos Group Vietnam shared: “Technology and the “flat world” have made it possible for the “personal brand” to rise globally, and are recognized as some of the most effective means to promote a business. Especially, the personal brands of leading experts and business leaders have a clear impact on the human resource strategies adopted by businesses to attract new talents. I believe that under these positive effects, businesses need to invest in supporting personal branding, especially for senior positions such as CEO, C-level, and another managerial position. They need to be equipped with the knowledge and methods to effectively build their personal brand, thereby helping to bring value to the organization. The report: “Personal branding impacts on Business development: High-level employees’ perspectives” help businesses and senior-level candidates better understand the importance and challenges of building an appropriate personal brand, and suggest effective solutions for both sides:
- For businesses: Facilitate personnel to build their brands to contribute to their organization’s brand. Provide training courses (internal or outsourced) for senior managers, especially the CEO, to help them understand the role of the personal brand and know-how to build and protect their brand and the interaction between personal brand and the business brand. Effective use of social media in employer branding through personal branding
- For senior-level candidates: Taking courses offered by the institution or taking an outside course on personal branding. Understanding and choosing the goals of personal branding must be associated with or separate from the organization. Regardless of goal selection, senior candidates need to be responsible for their brand and organizational brand”.
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