An international study highlights the significant role of company purpose and brand values in employee retention and attraction.
- 75% of respondents consider a company’s purpose critical for current and future employment opportunities.
- 73% view brand values as a key factor in evaluating a potential or existing employer.
- Misleading communications can lead to companies missing out on top talent, as noted by 20% of employed respondents.
- Half of the workforce might consider changing jobs, underlining the importance of clear brand communication.
In a study conducted by Berkeley Communications, 75% of respondents emphasized the importance of a company’s purpose in their decisions about current or prospective employers, signifying a major factor in employment considerations. Approximately 73% shared similar sentiments regarding brand values, reinforcing the necessity for businesses to articulate these effectively.
The study underscores the dangers of vague or misleading communications. Twenty percent of employed respondents flagged concerns over companies using unclear or deceptive terminology in their communications or job descriptions. Such practices risk alienating top talents, particularly when 50% of employees surveyed expressed intentions to change jobs. Notably, around 17% plan to make this transition within six months, suggesting a potential upheaval in the workforce if corporations fail to communicate effectively.
The report titled ‘Beyond Branding: Storytelling’s Role in Global Talent Retention’ captures insights from the UK, USA, Germany, and Australia. It finds that about 52% of job seekers would refuse to work for a company if its values clashed with theirs, highlighting the increasing importance of well-communicated brand values and purpose.
A generational divide is evident in attitudes toward company loyalty. While 75% of baby boomers remain loyal to their employers, only 55% of Generation Z mirror this sentiment. Generation Z also shows lesser alignment with their employer’s values (60%) and feels less pride in their workplace (58%)—underlining the critical need for businesses to address generational differences in work values.
Chris Hewitt, Chief Storyteller and Group CEO of Berkeley Communications, points out that creating a culture where employees feel valued is essential for improving loyalty. Effective storytelling, he notes, incorporates a human touch to corporate communications, potentially driving a transformation in company values, improving reputations, and attracting new talent.
Establishing a compelling brand purpose and clear communication is paramount for attracting and retaining top talent across generations.
