3 ways to appeal to millennials with Purpose
A full 86 million millennials will be in the workplace by 2020—representing over 40% of the total working population, as Jamie Gutfreund, chief strategy officer for the Intelligence Group notes. A group that appears to be decisive in the war on talent that is currently going on.
This generation asks you as an employer to do more than just making profits. Although the business community is waking up to the realities of social responsibility, there’s still a disconnect between stated Purpose and the actual corporate Action.
Purposeful work is so important to young business-minded individuals that they are willing to make less money in exchange for meaningful employment. For them, working in a strongly Purpose driven company is not just a way towards a better world, but also a part of their own path to creating a better life. The latter is especially true when combined with a flexible work-life balance.
Since your company probably already invested much to articulate your Purpose (your raison d’etre, an ambition a bit higher than your Mission Statement), why not use it to attract this critical yet dedicated workforce? We’re sharing 3 ways to become more appealing to millennials as an employer.
1. Ensure millennials know how their work adds tangible value to business and society
Millennials have made it very clear that they want to contribute to a higher purpose, yet many feel unable to ignite real change. This generation views work as an opportunity to have great influence on global issues. Thus, it is essential to ensure each and every employee knows how they can actively contribute to building a better world with their job. Realize your Purpose with concrete action and specific tasks for employees and top it off with measurable and tangible outcomes.
2. Make purpose-related activities part of the core business
Purpose-driven activities are something else than ‘charitable’ work, even though it still might overlap at times. Acting out your purpose, if done right, is something that makes your company grow and should not be perceived as an extracurricular activity. Embedding activities that make your company more innovative, inclusive and sustainable as part of the day to day job actually produce positive quantifiable effects in both the short and the long run. It is about the serving needs of society AND performing well.
The benefits are higher employee engagement, employees staying longer and easier attraction of new talent. Similar mechanisms also work for attracting and retaining customers. And last but definitely not least – smarter and more balanced use of our planet’s resources keeps us all in business for the long run.
3. Co-create with management and workforce in social good
Having open discussions with company leadership and employees about corporate social responsibility is an excellent way to strengthen employee involvement, internal community, and integration amongst all levels of the organisation. Managers can invite input on their purpose related decisions to achieve co-creation in social responsibility.
Increased focus on serving the needs of society ignites the feeling of involvement with something bigger than oneselve. It is also a great way to strengthen ties with strategic partners and showcase the company’s positive impact through happy ambassadors and real-life stories.
Purpose: in it, to win it
All things considered, companies that weave purpose within the fabric of the workplace are better at attracting and retaining top talent, optimizing productivity and increasing profits. They take part in the purpose revolution, redefining capitalism to shape the future we all want for the generations to come. We’re all set up to do good, better.
Can’t wait to Turn your Purpose into Action? Let’s team up for change.