Purposeful work is important, but how do companies go beyond buzzwords?

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Develop your vision ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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On Point | TODAY'S NEWS. TOMORROW'S INSIGHTS
On Point | TODAY'S NEWS. TOMORROW'S INSIGHTS
Finding purpose
The news
What’s your ‘why’? If your image of a purpose-driven employee is someone who wants to make the world a better place and is preoccupied with legacy, it might be time to broaden your view. What motivates one worker often differs from the next, so bosses should take care not to project what they believe to be meaningful onto their employees. For example, some people love to learn new skills, while others might find specific types of responsibilities meaningful. [Economist]
Know thy staff. Many of us are reexamining our lives and priorities amid the ongoing COVID-19 pandemic. As a result of that reevaluation, six employee archetypes have emerged in today’s workplace: ambitious employees, who rolled up their sleeves during the pandemic; “double-duty professionals,” who struggle to balance their job with their family life; “work-to-live advocates,” for whom work isn’t a priority; employees looking for human connection; “zest for lifers,” who don’t need a paycheck but find work rewarding; and new hires, who are still lost and confused because their entire experience with the company has been virtual. [WSJ]
“A recent study found that 29% of companies now include various ESG metrics in their incentive plans, up from 22% a year ago.”
Our insights
Shift in attitudes. The COVID-19 pandemic has prompted companies to rethink their purpose, responsibilities, and roles in society. There’s been an across-the-board shift in stakeholder attitudes on environmental, social, and governance (ESG) issues and purpose, says McKinsey partner Robin Nuttall in an interview with Oxford University’s Rupert Younger. Among employees, “70% now demand purposeful work. They want the company they work for to take a strong position on social issues,” says Nuttall.
Purpose versus performance. Purpose does not come at the expense of profitability but, in many cases, drives outperformance,” says Younger. “Companies on the NYSE and Nasdaq that had strong ESG records at the start of the pandemic … outperformed those with low records.” Listen to the full podcast for a five-part framework that can help leaders link purpose to actions and outcomes.
— Edited by Katrina Parker   
Embrace your purpose
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:39 - 15 Mar 2022