Making a difference in the workplace is more important than ever to today’s emerging talent. In fact, one of the most common statements by today’s recruit is that they want to work for an organization whose leaders understand that lives are improved by tapping the power of doing good for others and making them better at their job, all at the same time.
For today’s employees, “doing good” is more than just a fun perk. It’s a workplace imperative that drives business performance. But are the numbers showing it? According to the latest studies, the answer is a strong yes.
A social impact culture is a must.
Studies of the emerging workforce, including Deloitte’s third annual Millennial Survey of nearly 7,800 Millennials from 28 countries, show that a clear majority of the younger talent base wants to work for companies that are committed to charitable giving, volunteering, and making a positive impact on the bottom line and beyond. For example, the 2014 Millennial Impact Study showed that 94% of people in this demographic want to use their talents for doing good.
Doing good drives performance.
Researchers at the University of Southampton found that workers' performance increased by an average of 13 percent when they were given social incentives, and companies with the highest levels of employee engagement report increases in business performance, improving an average of 19.2% in operating income.
Social impact is the sticky factor.
A strong culture of engagement can reduce staff turnover by 87%. That adds up to some serious cash, considering that it costs an average of 2 to 3 times a salary to replace a worker.
Today’s workplace experience is about meeting the bottom line--and much more. It’s about celebrating the power of doing good to improve personal and organizational performance, leading to better results for everyone--the employees, the business, and the community.