Here at Qualigence we talk a lot about purpose. As recruiters, we naturally have some thoughts on how purpose plays into the talent acquisition process.
In short, the value of purpose lies in drawing people to our organization and inspiring them to give their best. Let’s take a closer look at why purpose changes the whole equation in talent acquisition.
Businesses Need Every Advantage They Can Get to Land Top Talent
It’s no secret that competition is fierce for top talent. Between historically low unemployment, the skills gap, and generational shifts, it can be very tricky to hire the people our business needs to succeed. When it comes to highly-skilled, in-demand roles like software developers, it can take months (or longer) to find a candidate who fits the bill.
In this cutthroat talent market, businesses need every advantage they can get to attract qualified candidates. Purpose is crucial here, as it is a value proposition that not everyone can offer. Organizations that genuinely offer their employees a sense of purpose have something that truly differentiates them from the competition.
People Want a Sense of Purpose From Their Work
We can offer candidates competitive salary, benefits packages, and even perks like remote work or flextime. However, purpose tends to beat all of these factors. Most people assume that money is the most important factor for people making career choices. While it certainly is important, the fact of the matter is that 90% of people are willing to take a pay cut to do more meaningful work.
Everyone works for a paycheck, but nobody lives for money. Given that we spend so much of our lives at our job, it should come as no surprise that people want to find meaningful work. When a company can demonstrate that they really live and breathe their purpose, it goes a long way toward attracting the best and brightest in their field.
Purpose Drives Retention & Performance
Attracting top talent and making great hires is important. However, if you’re unable to retain our team members or unlock their performance, you’re only wasting time and money on recruiting!
This underlines the importance of purpose to our overall talent strategy. When employees feel aligned with our organizations purpose, they’re far more likely to stay with the company and deliver their best work. When you have a team that’s united in their purpose and inspired to perform, the sky is truly the limit.
Building a Better Business
Ultimately, purpose is all about building a better business. With a clear, inspiring organizational purpose, you can deliver remarkable services or products, weather the test of time, and earn greater profits. And of course, everything in business starts with our people. We can’t succeed unless we’re recruiting, retaining, and inspiring great teams.