Corporate purpose: time for a rethink?

[Jahangir655]

The values and priorities of younger generations are continuing to shape the future of work, which means businesses need a corporate purpose. To attract, retain and motivate talent in today’s competitive labour market, businesses must take an integrated approach to employee wellbeing and development.

A recent Deloitte survey shows that three-quarters of Generation Z and millennials see the organisation’s community engagement and societal impact as an important factor when they’re considering a role. But less than half of them believe that business in general is having a positive impact on society.

At Davos, we expect to see discussion about this divide and the challenge it ecuador mobile phone numbers database creates for businesses. With Gen Z set to account for a quarter of the workforce by next year, businesses have no choice but to support their corporate rhetoric with tangible action, whether that’s inclusive representation or career transparency.

Diversity, equity and inclusion (DEI) are not new in thought leadership. To grab a share of voice here, businesses will need to think and communicate beyond their environmental and social mission statements. True corporate purpose is embedded into the organisation, shapes the way people operate and creates a sense of belonging. And businesses that show they’re committed to this won’t just stand out — they will also be rewarded with a workforce that can guide them through a transforming world.