I believe talented employees are thinking less about cash or career status in the longer term and focusing more on the nature of the company they are affiliated with and the people they work with. So what do we do with this insight; how should businesses communicate their corporate purpose?
It’s about creating something more compelling than a corporate strategy – this should encompass values, ethics and beliefs. It’s about clarifying why a company exists and what its legacy should be. And it’s about putting something back into the communities in which businesses operate as well as creating a sustainable footprint.
I feel that employers are aware of the shifting motivations driving their younger workers in particular, and some are addressing this better than others. But still too often I hear management teams regurgitate strategies and values which typically boil down to little more than a story around projected growth.
Making these changes is likely to be hugely challenging and may not sit comfortably with hard-nosed corporate ideology, but I believe that a sense of purpose will soon be the key differentiator when it comes to attracting both employees and customers. It’s a challenge that should be faced – and sooner rather than later.
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This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.