The report, carried out by global brand consultancy Calling Brands, reveals that there has been a dramatic shift in employee attitudes towards work, with corporate 'purpose' emerging as a powerful new driver of attraction, retention and productivity.
Entitled 'Crunch Time: The Power of Purpose', the new study shows that, after pay, purpose is now the second most important reason people are attracted to work for, and stay loyal to, an organisation.
Having an underlying ethos that goes beyond commercial and operational goals ranks ahead of other factors such as level of responsibility in a job and even career progression, but few businesses are leveraging it.
Brook Calverley, senior consultant at Calling Brands, said the importance placed on purpose is a "significant discovery" considering how little attention business leaders have given to it until now.
It was also found to be a key driver of effort and loyalty in existing staff members, as people are willing to work harder and stick with a business longer if they see purpose in action.
"Our report demonstrates that purpose matters for organisations today and is becoming a critical factor in attracting and keeping talent. What is also clear from our study is that this is no longer an HR issue: it is a board issue," she added.
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Posted by John Oak
Source: The Sales Executive News