23 Jun Innovating your work culture and EVP: Where does purpose fit into the business strategy?
With increasing certainty, one can consider that the year 2022 will rely on a hybrid working model, even Forrester analyst Sharyn Leaver has predicted that 60% of organizations will shift to a hybrid model in 2022, but one-third will fail in their first attempt at anywhere work.
One of the reasons for this failure can indeed be attributed to the challenges of sustaining work culture in an increasingly remote world. It is also becoming increasingly evident that workplace culture will have a tremendous impact on the EVP of organisations and following that, talent acquisition and retention. LinkedIn’s Global Talent Trends Report for 2022 reveals that 40% of candidates consider company culture a top priority when picking a job. In line with this finding, TEAM LEWIS’s recent research also reports that Gen Z, who will make up a huge portion of the candidate-led talent market, has been found to be increasingly purpose driven. As a result, salaries and benefits on their own can no longer be adequate. Organisations must lay the foundation for and sustain a broader purpose which fuels their workplace culture.
In a series of conversations with top HR leaders, People Matters delved deep into the significance of work culture and EVP in any organisation’s business strategy. Moreover, it also gained invaluable insights on what leaders can do better in this arena. It is a space that must be approached with great foresight as it will play a significant role in bringing and retaining the right talent in any organization as it seeks to innovate strategies to achieve their business goals.