April 07, 2021 2 min read

If the tumult of 2020 has prompted your organization or leadership team to reconsider people priorities such as employee well-being, resilience, or purpose, then you’re in good company.

Your employees are reconsidering you, too.

Nearly two-thirds of US-based employees we surveyed said that COVID-19 has caused them to reflect on their purpose in life. And nearly half said that they are reconsidering the kind of work they do because of the pandemic. Millennials were three times more likely than others to say that they were reevaluating work.

Such findings have implications for your company’s talent-management strategy and its bottom line. People who live their purpose at work are more productive than people who don’t. They are also healthier, more resilient, and more likely to stay at the company. Moreover, when employees feel that their purpose is aligned with the organization’s purpose, the benefits expand to include stronger employee engagement, heightened loyalty, and a greater willingness to recommend the company to others.

Nonetheless, if you’re like most senior executives, you haven’t given the individual purpose of your employees much thought. The topic is intensely personal, potentially inaccessible to employers, and seemingly as uncomfortable to discuss as it is to actively encourage.

Despite these challenges, our research found that 70 percent of employees said that their sense of purpose is defined by their work. So, like it or not, as a company leader you play an important part in helping your employees find their purpose and live it. And you have your work cut out: our survey also found disparities in how frontline employees and other groups feel supported—or thwarted—in living their purpose at work.

In this article, we describe the role that work can play in individual purpose, highlight what employees want from employers and what they aren’t getting, and describe what you can start doing about it. The prize? If you get this right, you can help your company become a better place to work and tap the enormous business potential of a purposeful workforce aligned with a purpose-driven organization.

 

To read the full McKinsey & Company article, click the link below:

https://www.mckinsey.com/business-functions/organization/our-insights/help-your-employees-find-purpose-or-watch-them-leave

Authored by Naina Dhingra, Andrew Samo, Bill Schaninger, and Matt Schrimper.

Harold Hillman
Harold Hillman



Also in Insights

Harness the Power of Your Organizational Culture in 3 Steps
Harness the Power of Your Organizational Culture in 3 Steps

June 04, 2021 1 min read

The events of early 2020 forced most companies to quickly adjust to new challenges. Now, almost a year later, many are still laboring in this "new normal" environment -- increased safety precautions, scaled-down teams and empty offices. With teams scattered geographically and connection opportunities often limited to computer screens, now is a great time for leaders to check in on their workplace culture.

Culture is the optimal performance driver. It is an unsigned contract between an organization and its employees that gives individuals license to accomplish goals and get things done without the burden of worry or uncertainty about negative repercussions. And every employee in an organization has the power to amplify or detract from its culture.

4 Lessons for Building Diverse Teams
4 Lessons for Building Diverse Teams

June 04, 2021 2 min read

If something yields the result we want even once, it’s human nature to do that exact same thing again. In general, people are creatures of habit. Just think about how many times you’ve gone to your local coffee shop and ordered the exact same latte. Once you found the mixture of ingredients that your taste buds enjoy the most, you probably chose to stick with that.

However, in business, this “stick to what you know” mentality often means that companies hire the exact same type of employee over and over. The thinking is often that if employee X is doing a great job and everyone gets along with everyone, that the smart thing to do must be to hire more people exactly like them. This mentality leads to hiring managers seeking out candidates that identically mirror their existing workforce. They’ll look for the same educational background and skillsets, source from the same narrow list of companies, and look for similar personality traits during interviews. Before you know it, you end up with an entire staff that looks, thinks, and — to a degree — acts almost exactly the same.
2021 Directors' alert: A new era of board stewardship begins (April 2021)
2021 Directors' alert: A new era of board stewardship begins (April 2021)

June 04, 2021 2 min read

For boards of directors, the rhythm of virtual board and committee meetings continues. New directors are being recruited, interviewed, and onboarded in a completely virtual environment, and the traditional board dinner the night before a meeting has fallen away to, at best, a few minutes of banter into a webcam at the beginning of a videoconference as directors assemble around the virtual boardroom table. And this is just the surface logistics of serving on a board in 2021. Looming much larger are the changes in business models, ways of doing business, and ways of thinking that are being challenged by the extended pandemic.

Want to hear more from us?