Ultimately, those which have (and stay true to) a purpose that resonates with their people, encourage a more pervasive sense of community and belonging, which has a positive impact on talent attraction and retention. But honouring a purpose goes beyond brand identity and differentiation – it should be about using business as a force for good and shaping the world into a better place.
How can workplace and people services teams help organisations drive culture, bring purpose to life and ensure that employees feel part of the journey?
70% of employees said that their sense of purpose is defined by their work (McKinsey & Company)
Purpose-driven employees
According to a 2018 study by Danone UK and YouGov, one in four British managers would take a pay cut for a purpose-led job. So, money doesn’t always equate to happiness. What’s more, 53% of managers surveyed would consider leaving their job if their company’s values and purpose didn’t align with their own, and just under a third (32%) would follow suit if their company’s purpose was unclear. LinkedIn data reinforces the idea that there is purpose behind purpose: 73% of purpose-oriented people are satisfied in their jobs, compared to 64% who do not class themselves as being purpose-orientated.
“Being purpose-driven has to be more than just lip-service or words on a page and getting it right takes dedication and commitment to a cause larger than the organisation itself.” - Rosie Warin, CEO, Kin&Co
It’s clear that purpose matters in the war for talent, so businesses need to ensure purpose permeates the whole working experience for employees. If an organisation wants to be a differentiated, it must grasp that “things” considered benefits pre-pandemic are no longer considered benefits in the back-to-work haze. What once gave an organisation the edge is now just a series of hygiene factors or must haves; organisations must do more.
52% of employees said the pandemic has changed their expectations towards their employer (Gartner)
A balancing act
The pandemic has stepped out of the spotlight and into it has swept the ‘Great Resignation’, a worrying economic trend that sees swathes of employees in a hurry to leave their jobs to seek new opportunities. There is a greater sense of social consciousness these days. In other words, people want to work for a business that cares as much, if not more, about people and the planet than profit alone. A key challenge in response to the threat of the ‘Big Quit’ or the ‘Great Reshuffle’ is finding a way to balance a business’s needs with people’s desires, all while committing to a worthwhile cause, an ultimate purpose.
Transitioning to experience-led, culture-driven workplaces
Having a purpose is one thing, but embedding and driving a culture that gives wings to that purpose, is another. How to navigate post-pandemic workplace life is top of the business agenda, yet there appears to be an unanswered question around ownership. Who’s in charge of company culture? This is a slippery point of debate.
The approach
1. Understand your business
Purpose is the reason an organisation exists in the world; establishing values is how its delivers that purpose. It’s important to remember that purpose and values evolve over time – what was in place before the pandemic won’t necessarily be relevant after it. To get ownership, purpose and values need to be co-created or refreshed with the people that will drive it forward: the employees.
“Co-creation is at the heart of the work we do with large organisations embarking on complex cultural changes. We know that a top-down approach to change management no longer works – for sustained change, organisations must not only bring their employees on the journey but allow them to co-create what the future should look like. By applying behavioural science, such as the principles identified in the IKEA effect, an organisation can create a feeling of ownership and loyalty to the change that will permeate throughout the organisation.” - Rosie Warin, CEO, Kin&Co
2. Know your people
Understanding what’s changed for people – what they care about more than they did prior to March 2020 – will help business leaders create work models that work. Employees are more demanding. They want a better work experience. They want their employers to contribute to the greater good. In considering the employee value proposition, all the elements that shape the ever-complex employee experience, leaders must listen and engage. Purpose, societal impact and culture is key in this sense, as is the work model and workplace experience on offer.
Rediscovering purpose
One of our banking customers refreshed its values and Employee Value Proposition (EVP) through a series of one-to-one interviews, surveys, focus groups and workshops with colleagues, customers and stakeholders. They determined the business’s purpose and co-created four clear commitments, centred on purpose, robustness, sustainability and ambition – to fuel that purpose forward.
And it worked. 72% of colleagues said the commitments would make them stay at the bank for years to come. A case in point that finding and staying true to a purpose that goes beyond business operations is crucial when seeking to gain competitive advantage.
Final word
To create productive, happy, purpose-led workplaces, we must listen, unite, energise. Make it fun. And measure everything.
