Searching for that greater purpose in what you do? Searching for work that is both meaningful and valuable, not just a paycheck? Who isn’t!? But outside of you, who cares about your purpose anyway?
The answer should be everyone! All employers should be finding ways to connect employees and potential employees with jobs that bring out a sense of purpose. Doing this will inevitably provide a mutual benefit to both the employee and the organisation.
Reid Hoffman, co-founder of LinkedIn believes, “companies that understand the increasing emphasis of purpose in today’s professional landscape improve their ability to attract such employees and also their ability to retain them for longer periods of time.”
In a study conducted by LinkedIn of industry professionals, 73% of purpose-oriented people are satisfied with their job, nearly 10% higher than those who aren’t purpose-oriented. 58% of organisations who clearly communicated their purpose saw more than 10% growth in 2016.
Furthermore, in a US Purpose Index study it was proven that the purpose-oriented people were 50% more likely to hold leadership positions, 47% more likely to be advocates for the organisation and 64% showed high levers of fulfilment. When employees feel that their job matters, when they work for a company or organisation that they value and makes them feel valued everyone benefits. The numbers prove it!
Employers need to embrace the idea that there is great power in purpose:
- Employees are more satisfied and fulfilled, therefore they perform better
- Employees are more productive, which means the company performs better
- Tenure increases when employees find meaningful work, decreasing turnover costs.
This all sounds fantastic, but how can you create an organisation that attracts and retains purpose-oriented people? It isn’t as complicated as one might think:
- Clearly communicate the organisations vision and values to your team, let them know how they will contribute to fulfilling each of these. Employees want to add value and make an impact.
- Give employees the opportunity to give back through a corporate social responsibility program. Employees will show increased loyalty to an organisation that makes a positive social impact.
- Give employees opportunities to learn, grow and develop their careers. When employees see that their company is investing in them and the future of their career, they invested in the organisation as a result.
While there is a myriad of ways this can be achieved, the primary goal is to develop a connection between your people and the organisation. The best way to build connections is through relationships. Talk to your team, talk about the purpose and vision of the organisation, let them know that they matter, that they add value and that there are great things ahead, for the team, the organisation and most importantly for them.
So, next time someone says, “who cares if they have purpose?!” Step up and say “we do!” To be successful and attract the best talent, we have to care.