6 Facts Proving Purpose Is the Key to Employee Retention & Engagement
“Employees expect their jobs to bring a significant sense of purpose to their lives. Employers need to help meet this need, or be prepared to lose talent to companies that will.” -McKinsey & Co, 2021
The majority of employees want their employer to reflect their values. In turn, companies need to be dedicated to their impact and purpose to engage and retain talent. A workplace social impact or CSR program can make your company culture more purpose-driven, reflect employee and company values, and be a key driver in workplace engagement.
Here are six facts proving you need to focus on purpose and impact to increase your employee engagement and retention:
- Employees are 5x more likely to be excited to work at a company that spends time reflecting on the impact it makes in the world. (Source)
- Nearly two-thirds of Millennial and Gen Z workers won’t take a job at a company with poor CSR practices. (Source)
- Companies that engage in socially impactful projects can reduce employee turnover by approximately 50%. (Source)
- 92% of employees who work at a company with a strong sense of purpose say they would be more likely to recommend their employer. (Source)
- Being able to donate or volunteer at work is fulfilling for employees and increases productivity. (Source)
- People who have a workplace giving program are happier and feel a sense of purpose. (Source)
If you’re looking for more insights into workplace social impact programs or need help running your own, Deed is here. The Deed platform has all the features required to support an impactful and engaging program: employee volunteering and skill-sharing, giving and donation matching, ERG capabilities, a Slack app, and so much more.
Get in touch today and learn how Deed can support your company and employee purpose.