iscover
Employees are after more than just pay to keep them fulfilled at work. Companies need to think outside the box when it comes to policy and benefits if they’re to keep their workforce engaged.
Finding meaning at work is a top consideration for employees, and according to the 2023 Meaningful Work Insights Report by Beaumont People, safety, teamwork, and purpose are the best ways to achieve this.
With this in mind, recruitment specialist and author of Meaningful Work, Nina Mapson Bone delved into the top five offerings that employees are after right now, according to the findings from the report.
1. Workplace safety is non-negotiable
Ms Mapson Bone commented: “In 2019, 60 per cent of people strongly agreed that physical, mental and emotional safety was essential and would leave an organisation if they did not feel safe. This figure jumped to 70 per cent in 2023.”
“While this increase could potentially be attributed to low unemployment rates and the fact that safety can be interpreted differently depending on the circumstances, it is heartening to observe this upward trend. It is my hope that we are progressing toward a future where more organisations offer workplaces that genuinely ensure a fundamental level of safety, a right that should be afforded to everyone.”
2. The motivating power of team collaboration
“The desire for collaboration has increased since the pandemic. Ninety-five per cent of people agreed overall that ‘contributing to and achieving team goals motivates me’, with 63 per cent of those strongly agreeing. This reflects an 8 per cent surge on the 2019 data,” Ms Mapson Bone said.
“My belief is that not being with your teammates every day drove an increased desire to achieve more with them and be more connected to them. This is an important factor for CEOs to consider, given that collaboration is identified as a much-needed skill for the 21st century by the NSW government. Nurturing collaboration is key, and it starts with creating psychologically safe workplaces.”
3. The increasing longing for purpose
“Purpose remains a significant factor in fostering meaningful work, securing its position as the third-most valued factor in 2019 and retaining its standing in the 2023 report. However, our data exposes a noteworthy trend: the desire for purpose is intensifying,” explained Ms Mapson Bone.
“Through discussions with CEOs spanning various industries, it has become evident to me that purpose holds importance regardless of the sector. Non-profit organisations now face competition in this regard, as the majority of organisations are contemplating their purpose and how it is effectively communicated to employees and wider stakeholders.”
4. People before profit
Ms Mapson Bone continued: “An overwhelming majority of people (90 per cent) now believe that an organisation’s focus on profit should not be at the expense of people. This is an important consideration for you as a CEO if you have not yet thought beyond the financial imperative of your business.”
“In an environment of continued talent shortages in key areas, workers will vote with their feet if they are put second to the profit of their organisations. ‘People before profit’ is the new mantra, and CEOs will ignore this at their peril.”
5. Career development is critical
“In 2019, only 58 per cent of people agreed that career development was critical to their success at work, compared to 78 per cent in the 2023 report, a significant increase in a subset of the job factors. Taking the time to clearly map out career paths and providing learning and development opportunities to your workers will go a long way to better results and retention.”
Ms Mapson Bone concluded: “If you are looking for more engaged workers who perform better and stay longer, resulting in better overall outcomes for your organisation, finding ways to create meaningful work will significantly improve these outcomes. By working on the factors that workers currently value, you will be putting yourself ahead of the competition in a time of continued talent shortage.”
Jack Campbell
Jack is the editor at HR Leader.
