In 2024, Deloitte published its 13th Gen Z and Millennial Survey titled: “Living and working with purpose in a transforming world”. Deloitte surveyed nearly 23,000 respondents across 44 countries to track their experiences and expectations at work. Two key findings stressed the importance of purpose and employee experience in attracting and retaining talent.
What Does Purpose Look Like Across Generations?
Firstly, most Gen Zs (86%) and Millennials (89%) reported that having a sense of purpose matters to their job satisfaction and well-being. Respondents are increasingly willing to reject assignments or employers who don’t align with their values. 75% of Gen Zs and Millennials (75%) state that an organisation’s community engagement and societal impact matters greatly when considering a potential employer.
Secondly, environmental sustainability remains a top concern for Gen Zs and Millennials, with roughly 60% of them reporting feeling anxious or worried about climate change. They want governments to push businesses to take more climate action, and businesses to help consumers make more sustainable choices. This is reflected in their career decisions: 20% of respondents had already changed jobs or industries to better align their work with their environmental values, with another quarter of both cohorts planning to do so.
These trends are not limited to younger generations. Two years ago, Gartner’s research showed that 65% of all employees want to work for organisations with a strong social and environmental conscience.
Organisations that remain silent on such issues risk their ability to retain employees and attract new candidates. HR leaders must advocate for their organization to include a response to these concerns in their employee value proposition (EVP).
McKinsey summarised the trend in a report from 2021: “Workers are hungry for trust, social cohesion, and purpose. They want to feel that their contributions are recognized and that their team is truly collaborative. They desire clear responsibilities and opportunities to learn and grow. They expect their personal sense of purpose to align with that of their organization. Organisations can offer an excellent employee experience (EX) by taking these needs and feelings seriously at such a crucial time”.
Helping Employees Find Purpose Requires a Structured Approach
What purpose means to individual employees can vary across an organisation. But purpose can be difficult to capture without the right methods. Which is why companies need a structured approach to integrating purpose into the employee experience they offer.
McKinsey proposes a three-step model:
Embracing Technology
Technology can play a pivotal role. In 2023, author Nell Debevoise wrote that the use of AI and data analytics is already transforming how companies understand and respond to employee needs. By leveraging these tools, organisations can create highly personalised experiences that meet employees where they are - whether that’s in terms of career development, mental health support, or day-to-day work tasks.
For example, AI-driven platforms can analyse employee engagement data in real-time. This allows HR leaders to make informed decisions that continuously. enhance the employee experience. Technology can also help bridge the gap in hybrid work environments, ensuring that remote employees also feel connected and supported.
Leading the way with Welliba
Welliba is an ideal partner to help organisations leverage the full potential of new technology for employee experience programs. We specialise in people insight solutions and can provide the latest measurement technologies that deliver data to build and maintain successful EX programs. Welliba’s solutions are firmly based in the latest behavioural sciences and look beyond generational (and other) stereotypes.
Our holistic employee experience model, integrated in the EX+ solution, examines how people experience their work and life, which results from the unique and dynamic interaction between a person’s characteristics and their environment. By helping organisations to understand both the ‘self’ and ‘context’ insights that shape their employee experience, we can provide more relevant insights into the root causes of a poor EX. We also help open new opportunities to improve EX at the individual, manager and organisational level.
Purpose is an important part of the personal characteristics (mindset) in our model. Not only do we measure it in real-time, but we can help organisations to understand how employees’ purpose is influencing their ability to realise their potential, and how this happens within each employee’s specific work context.
Paul Polman, former CEO of Unilever and author of bestselling business book Net Positive, stated that “Any CEO who thinks they will win the talent wars by offering a bit more money, some extra home-working and a gym membership is going to be disappointed.” Investing into what different employees feel strongly about and sharing their values is key to long-term success.
By offering deeper understanding into what drives individual employees and supporting managers and HR in designing programs to meet the needs of employees, Welliba can help organisations create an environment where people feel valued, supported, and empowered to do their best work, while finding purpose at work.
https://www.deloitte.com/content/dam/assets-shared/docs/campaigns/2024/deloitte-2024-genz-millennial-survey.pdf?dlva=1
https://www.gartner.com/en/articles/why-engaging-with-social-and-political-issues-is-a-non-negotiable-for-your-employee-value-proposition
https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/this-time-its-personal-shaping-the-new-possible-through-employee-experience