An international study highlights the significance of clear brand values and purpose in employee retention and attraction.
- Three-quarters of respondents emphasise the importance of a company’s purpose in their employment decisions.
- A lack of meaningful communication on brand values could result in losing valuable talent.
- There is generational variance in attitudes towards company loyalty and values.
- Storytelling emerges as a strategic tool for strengthening company culture and employee engagement.
In an increasingly competitive job market, companies must articulate clear brand values and a defined purpose to retain and attract employees. An international study conducted by Berkeley Communications found that 75% of respondents consider a company’s purpose an essential factor when evaluating current or prospective employers. Similarly, 73% value clear communication of brand values as a significant aspect.
Miscommunication or the use of ambiguous terms in company messaging can be detrimental. The study revealed that 20% of employed respondents expressed concerns over the presence of meaningless or misleading terms in job descriptions. This highlights the critical nature of how values are communicated in safeguarding talent retention.
The dynamics of employee loyalty are further complicated by generational differences. While 75% of baby boomers reported loyalty to their current employer, this figure declines among younger generations, with only 55% of Generation Z indicating similar sentiments. Furthermore, only 60% of Generation Z align their personal values with their employer’s, and just 58% take pride in their organisation’s purpose.
The importance of effective communication extends beyond retention, impacting recruitment strategies as well. The research indicates that 52% of job seekers are unlikely to join companies with conflicting values. As Chris Hewitt, Berkeley Communications’ CEO, articulates, creating a nurturing workplace culture is imperative. He advocates for storytelling as a potent mechanism to imbue corporate environments with a human touch, enhancing brand reputation and internal cohesion.
Ultimately, companies embracing a purpose-driven culture stand to gain both reputational and financial benefits. By aligning internal communications with their core values, businesses can see improvements ranging from enhanced productivity to reduced operational costs.
The study underscores the critical role of clear brand values and effective communication in talent retention and attraction.
