TalentLab

The Importance of Purpose

If you ask someone what motivates them at work, you will hear all sorts of answers.

The more ‘obvious’ one that you might expect to hear is salary.

There’s no denying that the numbers are important – but perhaps one of the most significant reasons is purpose.

After a year that’s had people re-evaluating life priorities, employees are more likely to ask themselves how to find meaning in a job than ever before.

In fact, only 7% of Fortune 500 CEOs believe the majority of their focus should be on profits, as opposed to engaging with social development. Although this isn’t new, Covid has pushed this higher on the agenda than ever before.

Purpose makes a huge difference to the individual, and therefore to the organisation – so it’s important to explore it.

The Difference It Can Make

Purpose has been shown to create a more engaged individual, meaning they become more invested in the future of the company. Hello retention!

Even better, engagement has a direct impact on productivity – engaged employees have been shown to be 38% more productive!

We are seeing new generations entering the workplace searching for acceptance and a sense of self-worth. People tend to feel fulfilled at work when they understand their value and how they can contribute to a goal.

Managers can contribute to an employee’s sense of purpose at work by helping them understand the ‘what’ and the ‘how’. Organisations add to the ‘why’: the company’s purpose. The magic happens when employees’ values align with the company’s purpose! The benefits expand to include stronger employee engagement, heightened loyalty, and a greater willingness to recommend the company to others.

Companies are becoming undeniably more successful when their workforce is motivated by purpose– growing at an average of 10% more!

On a Personal Level

It might be a little on the dramatic side – but purpose is effectively the reason(s) to live.

When employees have a chance to reflect on their own sense of purpose, and how it connects to the company’s purpose, good things happen.

Reflect. Connect. Repeat.

No matter how big or small, help employees find more personal meaning in their day-to-day work– so whether it’s leading a new project, CSR or championing diversity & inclusion, it can all feed into purpose!

Now More Than Ever

This past 18 months, we’ve had a lot of time to think – and we’ve remembered the value a lot of things we took for granted. The change of seasons. Feeling the sun on your face. A meal with family and friends. And for those lucky few, a dip in the ocean.

Looking to hire great people? You guessed it, purpose is a huge contributor to talent attraction and to the ongoing war for talent.

As this massive shift in the job sector goes on, the wellbeing of yourself and others at work has taken centre stage.

As an organisation, purpose begins with your values. How do they translate into actions for a better world? How do they meet your employees’ need for a sense of fulfilment?

Answer these questions and you’re already a step ahead of the competition.

TalentLab specialise in recruiting for HR and People positions, connecting great people with great companies, and helping people find their purpose.

So, if you’re on the hunt for a HR role, or maybe you’re looking for talented professionals to help take care of your people, TalentLab can help.

If you’d like to work with us or just find out a bit more, get in touch via sayhello@talentlab.uk or visit www.talentlab.uk to find out more.