With more than a quarter of the world’s workers actively seeking new roles, it’s little wonder that employers are pulling out all the stops to retain quality talent. Gym memberships, paid parental leave and flexible or remote working options are no longer ‘nice-to-haves’ but basic expectations of employees who know their worth.
Yet a growing body of research suggests there’s a far simpler (and more effective) way to reduce attrition. “In the past, we would talk about job satisfaction; today we talk about purpose and meaning,” says Dr Lindsay McMillan, Managing Director of Australian workplace research firm Reventure. “Given that we’re at work more than any other part of our life, people are very conscious that it creates some sense of intrinsic value and worth inside them.”
In 2016, McMillan led a review of the Australian workforce, which found that 72 per cent of employees were looking for purpose and meaning in their work – with younger respondents, in particular, deeming it a top priority. “We’ve got this incredible churn factor within work today,” says McMillan. “If millennials and younger generations feel they’re not getting value out of their work personally, they’ll just leave.”
MEANINGFUL WORK
Numerous studies support these findings. One survey by WorkHuman revealed the number-one reason employees remained with their company was that they found the work meaningful. In another by Calling Brands, respondents claimed that, aside from pay and benefits, ‘deeper purpose’ is the most significant factor when considering a new job.
Denne historien er fra April 2020-utgaven av The CEO Magazine - ANZ.
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Denne historien er fra April 2020-utgaven av The CEO Magazine - ANZ.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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Once in a LIFETIME
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PUTTING FAMILY FIRST
COUNTRY LIVING HOMES MANAGING DIRECTOR MARK RAVENSCROFT HAS OVERSEEN IMPRESSIVE GROWTH, BUT NEVER LOST SIGHT OF WHAT MAKES THE SOUTH AUSTRALIAN CONSTRUCTION BUSINESS SUCH A SUCCESS.
“A SAFER COMMUNITY IS MY MAIN PRIORITY”
ULTIMATE SECURITY CEO NASSIM SAID HAS BUILT A HIGH-TECH SECURITY ORGANISATION FROM THE GROUND UP, ALWAYS WITH COMMUNITY SAFETY IN MIND AND AN INSISTENCE ON FAMILY VALUES.
We Did It Our Way.
WHEN STEVEN SIMEONI FOUNDED TAS CITY BUILDING, HE KNEW HE WANTED TO DO THINGS DIFFERENTLY.
FROM PRECISION TO PREZZEE
A COMMERCIAL PROPERTY BARON AT 24, PRECISION GROUP BILLIONAIRE SHAUN BONÉTT HAS BUILT HIS CAREER ON UNDERSTANDING THE RETAIL MARKET. NOW HE’S INTRODUCING PREZZEE, THE DIGITAL GIFT CARD PLATFORM THAT’S CHANGING THE WAY WE GIVE.
HIGHWAY STAR
IN REGIONAL AUSTRALIA, WHERE TRUCKS ROUTINELY NAVIGATE VAST STRETCHES OF HIGHWAY, THE ROAD BETWEEN AGRIBUSINESS AND COMMUNITY IS SHORT. DENILIQUIN FREIGHTERS IS AN OLD HAND AT THAT ROUTE, WHICH CEO VICKI MEYER SAYS IS ITS MOST IMPORTANT ONE.
BENEATH THE SHEETS
A GOOD NIGHT’S SLEEP GOES A LONG WAY TOWARDS MENTAL WELLNESS, AND AH BEARD CEO TONY PEARSON BELIEVES THE OFT OVERLOOKED MATTRESS IS THE ESSENTIAL INGREDIENT.