As much as people love money, we humans also crave purpose.
An infographic from Mediatoolkit offers a stark reminder about the serious impact corporate social responsibility has on recruiting, retention and employee engagement. Citing research from Cone Communications, the piece states:
Up to 64 percent of millennials won’t take a job if a company doesn’t have strong CSR practices, and up to 75 percent would take a pay cut to work for a responsible company.
Cone’s study of millennial workers also found:
- Eighty-three percent would be more loyal to a company that helps them contribute to social and environmental issues.
- Eighty-eight percent say their job is more fulfilling when they are provided opportunities to make a positive impact on social and environmental issues.
- Seventy-six percent consider a company’s social and environmental commitments when deciding where to work.
What does that mean for employers? If you want to attract younger workers—and keep them around—you must infuse your culture with a sense of purpose, virtue and social responsibility.
That’s not to say you do so at the expense of revenue, however. As the infographic states, CSR isn’t about “turning down profits.” To the contrary, steeping your brand in compassion, decency and integrity can significantly improve your bottom line.
For those who want to boost CSR initiatives but aren’t sure where to start, Cone’s research points out that employees want a say in what activities the company participates in. From Cone’s study:
- Eighty-nine percent want to be active participants in helping their company improve its responsible business practices by providing feedback, ideas and potential solutions.
- Eighty-nine percent expect employers to provide hands-on activities around environmental responsibilities in the workplace.
In other words, ask your people what they’re passionate about, and then let them get their hands dirty.
We humans have a profound desire to uplift—and be uplifted. It makes us feel good, and it makes us feel good to be part of a team that’s doing something positive. Organizations that tap into this innate craving are well positioned to attract and retain top young talent.
To learn more, review the infographic below.