According to new survey studies by managment consulting firm McKinsey and Company, 82% of employees believe it is important for their company to have a purpose. There are many reports of people leaving their jobs unless they are to get more from the job, but not neccessarily in terms of a raise or more money. Business Insider report shows that companies who have "disengaged emplyoees could cost the economy upwards of 2 trillion dollars and are 18% less productive than those that are engaged (resulting in loss of one full workday of productivity). Other research states that 34% of employees would quit because of a toxic work environment and 48% would resign if a job "prevented them from enjoying their life.
Now more than ever employees are valuing their time and what their job has to offer to them in terms of fulfillment. People do want to work, its just a matter of feeling purpose and engagement at all times. Employers need to recognize that these expectations have changed and will continue to change with the time. Specifically, in order to have a positive impact, companies must upgrade work culture, honor a work/life balance, ask about personal purpose, and clarify their purpose consistently.
Since the COVID-19 epidemic, there has been a shift in employees’ beliefs about what their employers owe them. It seems that people expect more from their employers and will leave quicker if they are not satisfied, as they feel that jobs are easier to come by. Companies must step up and fulfill their employees' expectations to get full productive potential from their employees.
ReplyDeleteWith reports indicating the significant economic impact of disengaged employees and the high percentage willing to leave due to toxic environments or lack of fulfillment, it's clear that traditional notions of job satisfaction are evolving. Do you believe companies are adapting quickly enough to meet these changing employee expectations?
ReplyDeleteIt is definitely hard to do anything without feeling a sense of worth or purpose. With the wage growing moderately too workers are more expensive as well so finding a purpose will benefit both employer and employee.
ReplyDeleteI feel like I agree with Pranay, after Covid occured, people have had a shift in what they priortize. I think people realized how fast we went from a complete lockdown and realized how important their day to day life was. Now that we are out of the lockdown, people want to feel as if they are not wasting their time and that their work isn't just a repetitive work job. Both the employer and the employee do not benefit from unengaging work enviroments. Like the article mentioned, from an employer standpoint, having disengaged and uninterested employees is an indirect cost the company and can overtime reduce output production.
ReplyDeleteI think it makes a lot of sense that workers are seeking purpose at work. In regard to choosing a college, students often consider the college's mission / purpose. Colleges spend a lot of money on developing a market position, and they do so for a reason. It pays off by attracting students. Therefore, it seems logical the same sentiment would apply to jobs.
ReplyDeleteI agree that employees are placing more emphasis on finding purpose in their work. This isn't just a matter of personal satisfaction; it directly impacts productivity and overall company success. Employers need to recognize this shift and take proactive steps to meet the growing needs of their workforce. I think creating a positive work culture, fostering a healthy work-life balance, and regularly discussing personal purpose are essential strategies for retaining talent and maximizing productivity.
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