Purpose and Certainty
As organizations consider the future of their workforce, many want to modernize total rewards and improve the well-being of their talent. In order to help establish a foundation for their strategy, the two principles of purpose and certainty have to be understood. The connection is straightforward; companies that are purpose-driven and offer their employees a sense of certainty in their current environment are at clear advantage over those who do not. When an organization emphasizes the value of individual purpose, they show employees that physical well-being, psychological safety and personalization are all important. This leads to increased engagement, improved productivity, and overall better business performance.
Humans have always felt the need for a purpose because it helps define individual meaning and can be a motivating factor daily life. This is especially true for employees. According to a recent study released in March 2018 by BlackRock, an American global investment management corporation based in New York City, individuals are more engaged when they can define their individual purpose. To support that statement, The Conference Board’s “2018 Global Leadership Forecast” reported a 42% performance improvement between purpose-driven companies and the rest of the market. Further research done by Willis Towers Watson shows that when organizations have a clearly defined sense of purpose (i.e., purpose statement), they are more likely to have employee’s with strong individual purpose. When these two overlap, employees become even more engaged and feel a sense of certainty when at work.
Fostering Purpose and Certainty
Employers are finding that when they can combine purpose and certainty, they increase employee attraction, retention, engagement, productivity, and even well-being. Listed below are some of the best practices for creating a sense of purpose and certainty for your employees as detailed on WorldatWork:
- Clearly Articulate Organization Purpose
- Encourage Employees to Articulate Their Individual Purposes and Link Them To Organization Purpose
- Modernize Total Rewards Strategy and Ensure Programs Support Your Purpose
- Using Total Rewards Analytics to Increase Certainty
- Increase Individual Security and Purpose Through Role Design, Career Journeys and Skill Enhancement
- Link Purpose, Certainty and Emotional Well-Being Through Practices of ‘Healthy Companies’
- Recognize How the Role of Purpose, Recognition and Personalized Messaging Can Positively Affect Employees
- Build an Effective and Inspirational Leadership Culture
- Focus on Digitalization and the Talent Experience
For more information on each of these practices, click here!