A recent blog post on TLNT outlined some research that revealed a pretty interesting statistic. What they found is that many employees have higher job satisfaction when a company is clear about their corporate mission (and when they actually follow-through with that mission).
The 2013 Emerging Workforce Study, published by Spherion, found that an overwhelming majority of employees surveyed (70%) reported higher job satisfaction working for companies with a clear corporate mission statement and follow-through of that mission, compared to just 23% of employees whose companies have no clear mission.
- 70% of the respondents who worked for a company with a clear mission rated the likelihood of staying with their current employer for the next 5 years as excellent/very good. On the other hand, only 34% who worked for an employer with no clear corporate mission felt the same.
- 53% of those working for an employer with a clear mission and follow-through rated their growth potential at their current job as excellent/very good. For those working under an employer with no clear mission, only 20% responded with excellent/very good.
- When asked if they were at least somewhat likely to look for a new job in the next 12 months, only 21% of respondents at a company with a clear mission answered yes. For those who worke for an employer with no clear mission? Nearly double amount of respondents (41%) said they’d toyed with the idea of looking for a new job within a year’s time.
So, what can we take away from all of this?
As we’ve talked about in the past, in recent years, employees have put more focus on taking stock of the companies they work for. Having a clear understanding of an organization’s mission statement is one way that employees gauge their job satisfaction, which in turn can either benefit or put your company at a disadvantage.
Here are a few other key things to consider:
- The values of employees change all the time. As such, an employer needs to be aware of these values and take them into consideration. For example, the values and priorities of Millennials are much different than Gen X’s and Boomers. If you are hiring more Millennials (which you most likely are), then you need to factor in their wants and needs.
- The more your employees understand about your company, its goals, cultural fit, etc, the better a chance you have of retaining these individuals. Now more than ever, employees want to feel like they’re making a difference, and that they are playing an integral part in accomplishing the mission of the company they work for.
While corporate missions may have previously been just a small part of any company’s overall approach to doing business, this study shows that such missions are truly cornerstones of the employee process.