Last week we heard directly from your candidates about what Attracts them to, and Repels from, your company. This week we pick-up with the benefits of being purpose-driven in attracting high-performing employees, and customers. Being purpose-driven may not sound sexy, but it’s a fact that “companies that lead with purpose are more likely to be profitable.” –Purpose at Work, 2016 Global Report, a partnership between Imperative and Linkedin
Your current AND future CTO both want you to be Socially Responsible
Philanthropy cannot be an afterthought. If you want to attract purpose-driven candidates you must prioritize social responsibility. Horizon Media’s Finger on the Pulse study shows that 81% of Millennials expect companies to be good corporate citizens. But purpose is not just a focus for Millennials, Gen X and Boomers are leading the way!
So, I should donate more money?
Many organizations take a purely tactical approach. They rally to encourage employees to donate during times of extreme need and natural disasters and match donations to charitable organizations. They may even conduct an annual back-to-school supply drive. All of these are a great start, but only part of the picture. True philanthropy is built into the bottom line. It is a commitment and embedded in a company’s story. Take a page from TOMS, well-known for its charitable mindset…
“While traveling in Argentina in 2006, TOMS Founder Blake Mycoskie witnessed the hardships faced by children growing up without shoes. Wanting to help, he created TOMS Shoes, a company that would match every pair of shoes bought with a new pair of shoes for a child in need. One for One®” -TOMS Website
But TOMS doesn’t stop there. Their eyewear division has helped restore sight to over 400,000 people in need across 13 countries. They also gave more than 335,000 weeks of safe water in 6 countries and funded safe birth services for over 25,000 mothers. Philanthropy is not a program or action for them – it is part of their corporate DNA.
It is not just about a donation, it is about commitment
There are many ways to actively show your commitment to social causes. From offering resources to enabling employees to get involved. Often, we are so busy with our jobs that we de-prioritize donating our precious free time. That’s why some companies, like Salesforce, give employees seven paid days away from the office to volunteer. When an employee completes that commitment, $1,000 is donated to a charity of their choice. Others enable volunteering by dedicating resources to local community projects in “days of giving.” TOMS also helps employees give through the “Tomorrows Project.” All of TOMS employees vote on monthly submissions for a $10,000 grant. Each winner gets two paid days off to implement their idea. One of the winning ideas, submitted by Jose Miranda, was a new computer class for at-risk youth.
Why do you want purpose-driven employees?
Purpose-driven employees are more productive and successful with a 20% longer tenure and are 47% more likely to be promoters of their employers than peers (2015 Workforce Purpose Index.) Given the excessive cost of replacing an employee, this alone is a huge advantage. But there is more…
Your company’s purpose can help you attract and keep the right employees and directly impact your growth and revenue. That’s a win-win. Review the Purpose at Work report for even more specifics.
At The Hire, we have a significant focus on being purpose-driven. We partner with candidates and clients who want to lend a hand to those who struggle with success. By partnering with local non-profits whose missions align with ours, we are all able to support the growth of local talent. We hope you found this article helpful, visit us next week when we touch on the employee lifecycle and how your attention to each stage can make or break your talent management efforts.
Lisa Crockett is a leader and professional development coach with more than 20 years of experience in Human Resources, Organizational Effectiveness, Project Management, and Learning & Development. To learn more about her professional career visit her on LinkedIn.