The chaos of 2020 prompted many organizations and leadership teams to reconsider the ways in which they prioritize their employees, considering things such as employee well-being, resilience, and employees’ connection with their purpose and how these things impact employee retention. Rightfully so. Employees, too, are also considering how and if their companies provide them with these.

Almost two-thirds of US-based employees surveyed acknowledged that COVID-19 had led them to contemplate their life’s purpose. Nearly half of them admitted to reconsidering the type of work they engage in due to the pandemic. Millennials stood out, being three times more inclined than others to express their reevaluation of work.

These discoveries hold significance for the company’s talent-management strategy and its financial performance. Individuals who find and pursue their purpose at work tend to exhibit higher productivity compared to those who do not. They also tend to enjoy better health, greater resilience, and a higher likelihood of remaining with the company. Additionally, when employees perceive alignment between their personal purpose and the organization’s mission, the benefits extend to enhanced employee engagement, increased loyalty, and a greater willingness to recommend the company to others.

Nonetheless, most senior executives have not dedicated significant attention to the personal purposes of their employees. The subject is deeply personal, potentially challenging for employers to access, and often deemed as uncomfortable to discuss as it is to actively foster.”1

Read more here.

References

  1. Dhingra, N., Samo, A., Schaninger, B., & Schrimper, M. (2021). Help your employees find purpose—or watch them leave. McKinsey & Company. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/help-your-employees-find-purpose-or-watch-them-leave

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  • The material in these reviews is from various public open-access sources, meant for educational and informational purposes only
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