Purpose or Paycheque
What’s motivating your employees?
Employees who align with your company’s purpose tend to be more engaged, involved and better performers. Data suggests that when employees feel aligned to the organization’s purpose and mission, they are more likely to:
Collaborate and engage with others on the team to creatively solve problems.
Be satisfied with their total rewards package (including cash compensation and benefits).
Use more discretionary effort in order to take care of your customers.
Be dedicated to your organization, work to achieve better results, and stay longer.
Conversely, when employees are motivated predominantly by their paycheque, then cash can become a distraction, performance and reliability may slip, and ultimately these employees will predictably leave your organization when enticed by more money.
The fundamental difference in mindset is the “what’s in it for others” employee versus “what’s in it for me” employee.
There are some steps your organization can take to maximize employee engagement through purpose alignment.
First, be clear about your company’s purpose, not just outwardly but internally as well. The purpose will be the north star of your organization, and getting all eyes on the same vision is key to keeping people toward it, including your leaders and the entire team. A terrific way to reinforce the purpose to your team is to share stories of how the work they are doing is having an impact. Some organizations feature customer stories, others use data. Whatever method, closing the loop on the impact of the work is key to demonstrating the power of purpose.
Which brings us to the next point: align your people, processes, practices and policies to your purpose. Truly integrate your purpose into your culture at as many touch points as you can. For example, if your company’s purpose is to make education attainable for all people, then your company may have an internal educational scholarship program, or a leave-of-absence policy that allows employees to take job-protected time away from work to attend school, then return to the company.
Purpose-driven companies tend to hire purpose-driven people from the outset. Skills and competencies are critical to on-the-job success, but hiring for purpose in addition to skills and competencies will increase the likelihood of not only a capable employee, but one who is engaged and loyal as well. If candidates can’t clearly articulate in the interview their alignment and belief in the company’s purpose and mission, then they may not be the right person to add to your team.
To truly lead your organization from a place of purpose, you need to involve and align your team to the same purpose. Connecting your team to the larger purpose takes time and effort, but can help to elevate your business while at the same time inspire your team.
If you need some help in developing your company’s people and culture strategies, or simply some advice about how to lead within your company culture, Kris Tierney Consulting can help. Contact us today, or explore our website for more information about what we do. We’re passionate about cultivating outstanding workplaces where people and culture take centre stage. So, we made it our Mission.
