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Saying YES to ownership

Prysmian Group
For over a decade, Prysmian and Interbrand have been working together to create and grow a savvy brand for the world’s largest cable manufacturer and provider.

The Prysmian brand was created by Interbrand in the wake of the business’s spinoff from Pirelli. After acquiring competitor Draka, Prysmian became the world’s largest creator and supplier of cables, but this shift required a new approach to brand that would account for current and future scale. Prysmian needed a way to both reorganize their brand, and to get employees from both Draka and Prysmian excited and invested in these monumental changes. The cable industry is competitive, but a combination of trust, proactivity, and flexibility makes Prysmian Group well-equipped to get the most out of the partnership.

The first insight was to create an overarching corporate brand, Prysmian Group, which stands for the organizational, technological, and logistical platform that allows the entire organization to operate. Underneath the commercial brands—Prysmian, Draka, and any other current or future acquisitions—each stand for clearly-differentiated segments and geographies. To build a brand that stands for state-of-the-art technology, consistent excellence in execution, and sustainable growth, we outlined how and when to use the corporate and commercial brands—along with instructional videos, guidelines, handbooks, and event space branding to tie this unified vision together. After realizing they could better arm themselves in the battle of talent, we helped Prysmian develop a unifying Employee Value Propositions to guide HR initiatives across the world, including scouting and training.

To unify the commercial brands under Prysmian Group, we launched an employee stock ownership plan—the first of its kind in Italy—in only five weeks. Dubbed YES (Your Employee Stock), the plan allows employees worldwide to buy Prysmian Group shares at a favorable price, increasing employee commitment, clarity, and loyalty, as well as cementing internal culture post-merger.

The results of YES’s first wave went beyond all expectations—over 35% of eligible employees subscribed, soundly beating our benchmark of 20%—with the percentage exceeding 70% in some countries. At the end of the second wave, 53% of eligible employees said YES, with an increase of 9% in a single year. Today, 7,400 employees are shareholders with 1.7 million shares held between them. The success of YES solidified Prysmian’s brand strength internally and externally, empowering employees by giving them ownership of their own company, and reasserting Prysmian Group’s position as not merely the largest brand in its market, but the leader

Over half of the Prysmian Group's employees now invest in the company.
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