Today's talent management strategies must help workers find a sense of purpose, making the difference between average performance and great performance.
Today’s workforce is looking for more from their jobs; they are looking for a way to make a mark on society. Financial rewards are no longer catch-all bait by which to lure and keep top talent, for reasons ranging from generational priorities to personal preferences. This trend toward purpose driven work offers organizations a unique opportunity to refocus their employer brand so that it articulates a social mission that not only differentiates them from competitors, but also aligns with candidates seeking a cause.
Learn below why a sense of purpose is an important part of talent strategy and what employers need to do to create a winning culture for their organizations.
Creating a workplace environment where employees feel their job is more than just a paycheck can provide companies with a number of benefits. Some are intangible, such as an enhanced reputation in the market as being a good place to work. Others can be directly related to the bottom line.
And providing a sense of purpose can do more than just make employees more productive and willing to stay with their employer. A sense of purpose on the job can even lead to healthier employees.
While Millennials/Gen Ys are often thought of as having the highest need for alignment to a cause (perhaps out of a natural age-related idealism), the bottom line is that no matter the level of experience, generation, or interest, many people seek meaning in what they do. When organizations prioritize purpose over paychecks, they appeal to candidates who are committed, involved, and intrinsically motivated. To connect with these kinds of people, the purpose message must be tied into talent strategy, not only in recruitment but in also in the organization's culture and employee experience.
KPMG helps clients discover, promote, and sustain their purpose. With a toolbox of contemporary, relevant research and an experienced team of professional talent management advisors, KPMG can help you build a talent strategy that will give you a competitive edge in this rapidly changing world of work. Contact us today to get started.
