How to Motivate Your Team Through Meaningful Work
Purpose is a powerful motivator that gives us a sense of direction and meaning. It can be a driving force for achieving our goals. In the workplace, purpose can be especially important for motivating and engaging team members.
When team members feel that their work has meaning and impact, they are more likely to be engaged and motivated to give their best effort. According to a survey conducted by EY, the majority of executives at purpose-driven companies believe that integrating purpose throughout the business is crucial. Over 90% of these executives emphasized the importance of embedding purpose into the company culture. The company’s purpose should be evident in the leadership behaviors, goals, strategies, and decision-making processes of the business. As a business leader, how can you assist your team members in discovering purpose in their work?
Here are some reasons to effectively motivate your team members with purpose:
Why Meaningful Work is Key to Success
- Drives Innovation
Purpose-driven companies are often more innovative because they are motivated by something bigger than just making a profit. Team members who find meaning in their work are often more productive. Team members who find purpose and inspiration in their work are more than twice as productive as team members who are just satisfied with their careers, according to research by Bain & Company. This can lead to the development of new products or services that address issues related to organizational values. This can differentiate the company from its competitors.
- Attracts and Retains Top Talent
Companies driven by purpose often attract and retain top talent because employees are drawn to organizations that have a clear sense of their values and mission. When employees feel connected to the purpose of their work, they are more likely to be more determined to get the job done, which can lead to increased productivity and success. Being clear about the purpose of your business will attract team members with aligning values to join. Team members are more likely to be loyal to purpose-driven companies because they feel a connection to the company and its mission.
According to a global talent trends survey, the most successful employees are three times more likely to work for a company that has a strong sense of purpose. This highlights the importance of having a clear purpose and mission for an organization.
- Increases Shareholder Value
Purpose-driven organizations tend to have higher shareholder value and outperform their non-purpose-driven counterparts over the long term. Companies with a clear sense of purpose are able to make decisions that align with their values and mission. This can lead to more sustainable and ethical business practices, which can be attractive to customers and investors.
A study by Kantar found that brands that are purpose-driven have experienced an almost double valuation increase compared to a growth rate of 70% for brands that are unsure of their role and purpose. This demonstrates the importance of having a clear purpose and mission for a business.
Find Your Why
Meaningful work is essential for the success of any organization because it helps to attract and retain top talent, improve productivity, and enhance reputation. By providing team members with purposeful work, companies can set themselves up for long-term success.