mCaffeine, a maker of personal care products, recently announced an employee stock ownership plan to reward committed employees. The company has allocated 10 percent of its shares to the employees.
Co-founder and ceo Tarun Sharma said over 50 percent of the employees are eligible for the ESOPs. The scheme opens a new growth avenue for employees and the brand alike, Sharma told Storyboard18 in an interview. He also spoke about employer branding and the company’s marketing and expansion strategies for its coffee-based products. Edited excerpts
What is the importance of employer branding? How can a healthy workplace culture be cultivated?
Employer branding is a pivotal aspect of a company’s identity, influencing how it’s perceived by both current and potential employees. A compelling employer brand not only attracts top talent but also cultivates a positive workplace culture, leading to higher employee satisfaction and retention.
Employee stock ownership plans serve as a powerful tool for companies to differentiate themselves in the competitive job market, ultimately contributing to the long-term success and growth of the company.
Nurturing a robust workplace culture is essential. ESOPs serve as a cornerstone, aligning employees with the company’s success. Open communication, collaboration, and purposeful work are integral. This ownership structure enhances engagement, linking every individual’s effort directly to their stake in the company’s prosperity.
What are employees seeking from the employer brand?
Modern employees seek more than a paycheck, desiring a holistic work experience. Beyond financial incentives, individuals look for flexibility, growth opportunities, and a supportive work environment. The employer brand must showcase a commitment to well-being and development.
Where is the business for mCaffeine coming from the most?
Tier 1 geographies have been bringing in a lot of business, with an increasing demand in tier 2 and tier 3 geographies. Retail expansion is our core focus for the upcoming years, catering to our already profitable locations and also considering further customer acquisition.
What are some marketing strategies of mCaffeine?
Our marketing centres around the unique benefits of our products. It’s not just about selling; it’s about creating an experience for our consumers. By staying consumer-focused, we aim to resonate with our audience, understanding their needs and preferences. In the competitive skincare industry, listening to consumers and creating and marketing products relevant to each consumer is essential for any marketing activity.
What are the trends in the caffeine industry and how are you leveraging them?
The caffeine industry evolves with health-conscious consumers and sustainability at the forefront. We’re witnessing a rise in demand for innovative, effective, and sustainability-focused products. Leveraging these trends, we explore sustainable sourcing and develop efficiency-oriented offerings.
Can you elaborate on mCaffeine’s expansion strategy?
We will be launching many new categories in the Indian skincare market, being the first brand to introduce these categories in India. Additionally, we plan to expand into the cosmetics market. The recent concealer and lipstick launches have been a success.
Consumer feedback is invaluable, and we’re leveraging it to further enhance our cosmetics line. With a strategic focus on retail distribution channels, we are steadfast in building a strong presence and delivering exceptional products to our diverse audience.