Employers often cite hiring and retaining talent as their biggest problem, saying, "I can't find good people!"
Meanwhile, potential employees often are disengaged in their work, saying, "I can't find a good company to work for!"
What's the gap?
Meaningful work. Alignment of values, vision, and mission between employers and employees.
Most employers are still trying to compete for talent on the traditional components:
Higher wages
Better benefits
Flexible work (hours/remote)
Fair wages, benefits, and work flexibility are now table stakes in the employment game. They are must-
haves. Companies are struggling to stand out in a job market where most other employers offer similar basic compensation for work that seems to serve one purpose: make money for the shareholders of the business. Inevitably, this leads to difficulties in hiring new people and retaining those already on your team who are considering leaving for greener pastures.
What sets companies apart that are succeeding in attracting and retaining talent?
Their purpose and ethics!
Millennials will make up 75% of the workforce by 2025 (Inc.), and 64% will only take a job if the company has a strong Corporate Social Responsibility policy. 83% would be more loyal to a company that helps them contribute to social and environmental issues (Cone Comms.)
It's no longer enough for employers to provide only wages, benefits, and work flexibility to attract and retain talent. Purpose is the differentiator for the modern workforce. If you want people, you must be good for people, the planet, and your profits.
Instead of throwing more money at competing on wages, invest in authentic Strategic Purpose Planning to differentiate your company from the rest. Compete on your company's potential to make a positive impact and your need for purposeful people to join you in your mission.
Go further with B Corp Certification to prove and signal to the market that your company is the real deal for using business as a force for good for social and environmental causes.
Check out BWork.com, the world's largest impact job site that connects purpose-driven jobseekers with positions at social enterprises using business as a force for good.
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