How to Create a Purposeful Business

Losing talent hurts your business. There are many reasons, ranging from the cost of sourcing and vetting replacements to the lost income that comes with an unmanned post. Worse, of course is when you fail to maintain those individuals who bring incredible value to the company.

In today’s market it’s very important to know how to attract and keep the right candidates. It’s one of the key factors in running a thriving business.

Do you know how to do this, especially with modern workers wanting modern perks?

This is where purposeful work comes into play.

Modern workers want more out of their job than just a paycheque. In fact, according to a Deloitte study over 50% of millennials would take a pay cut in order to work for a purposeful company. Modern workers want meaning, they want to make a difference.

So how do you position yourself as a purposeful company?

Let’s start with the big one: What’s the purpose of your company? Your social cause? That identity needs to be front and centre.

Every company has a mission statement and that mission statement is a big part of its image and how it attracts customers and workers.

Are you “Reducing financial inequality through modern technology”? “Improving access to green technologies”?

Your mission statement is also strongly linked to your corporate identity and corporate community. Make sure you are consistent in your overall image. These are the elements that will draw the right candidates to you—and it should go without saying that these are the candidates you want becoming your staff.

The next step to creating a purposeful business is attracting and maintaining the right employee base.

With your mission statement you’ve laid out how your company is going to change the world. How are your employees going to aid in the fight?

Your job descriptions should be clear and concise, quickly laying out the impact the business will make. (Your mission statement will come in handy here.) Draw in the right workers by showing them the purposeful work they’ll be doing.

Your social media presence (yes, you need one) needs to stay on message as well, further selling the business as a positive instrument of change.

Attracting and hiring the right candidates is a big part in the process of creating a successful purposeful business. These are the people that will keep your business thriving, so make sure they’re the right people for the job.

The final important area when developing a purposeful work environment is your learning & development (L&D) culture.

Don’t have one? Well, get ready to get one.

If you want your business to truly make an impact on the modern world you need to make sure everyone working with and for you are on board with the goal and have the tools and skills needed to get the job done.

By providing your employees with access and approval to L&D opportunities that will help them grow you will improve your staff and your company. More importantly, you can use these newly cultivated skills and knowledge to further the company’s (and your) goals and purpose.

The right staff working under the right conditions can change lives. Remember this and set things up so everyone has the chance to succeed.

A study done by the Energy Project found that employees working with purpose were more loyal, had higher job satisfaction and were more engaged at work. Purposeful work is beneficial for both employees and companies and we should be doing what we can to increase the existence of these opportunities.

Let’s work towards creating more purposeful work. It’s the right thing to do.