Social Purpose: Why Will Generation Z Choose your Company?
- by Mike Tulley
- 7 Aug 2018
The workspace horizon is drastically evolving following the development of Industry 4.0 and the shifting demographic to younger employees.
To retain the loyalty of this next generation, as businesses, we need to understand what purposes they seek and how we bring this into business plans and future objectives, whilst remaining profitable in the market and hiring the best staff.
Fuse Gen Z Report on Social Activism and Cause Marketing, tells us that Gen Z are 85 percent more likely to purchase from a brand that supports a social cause over one that doesn’t, compared to 70 percent of Millennials. Clearly social purpose and positive influence is important to these younger workers.
And in a workspace evolution that focuses on integrating work with life, over a constant balancing act, incites that work is to be marketed as a positive lifestyle choice, where workers give back to the company, provide a service to the industry, and now more importantly, commits to providing a positive impact en masse.
According to Deloitte’s holistic 2018 Millennial Survey, Generation Z believe that corporations need to include positive societal impacts into their business plans and objectives. Within a politically and socially fragmenting society, the survey details that to appeal to this new workforce, businesses need to strike a better balance between financial results and ‘softer’ outcomes.
Softer outcomes include:
Making a positive impact on society and the environment
Creating innovative ideas, products and services
Job creation, career development and improving people’s lives
An emphasis on inclusion and diversity in the workspace
To market themselves effectively, businesses need to identify their corporate activities within these softer outcomes to create a more favourable view of their organisation to this younger generation. The survey details that while the generation believe businesses have the potential to solve important societal issues, the leaders are not effectively addressing the issues that are of greater concern. With this in mind, marketing to new talent entering the workspace almost appears too easy. However, these new hires require truly genuine and authentic social purposes throughout business models.
Joey Reiman has analysed the processes to incorporate trustworthy purpose into your business. These hinge on the “Four I’s”: Investigation, Incubation, Illumination, and Illustration. Once this step process is fulfilled, companies find themselves with a loyal workforce invested to their organisation with strong devotion to company missions.
How do you identify your company’s social purpose?
Excavate your ethos to bring clarity to who you are as an organisation. This will involve an analysis of your company’s history and how values have evolved throughout time to establish who you are now.
Understand the meaningful role you play in the world. The goal is to discover how your company can inspire the world, in a market demanding for purpose, ‘Heartstorming’ is the chosen method for creativity, where subject issues are deeply studied before meetings to find the heart of the real matter to create more meaningful solutions filled with authenticity.
Articulate the unique intersection of your essence and role in the world, the Master Idea. Big ideas don’t appear, they evolve. Stage three edits stage two, and we now need to invest in the idea of people to reach the illuminating Big Idea that can be spread throughout a company. The Big Idea will be the crux of new employee engagement into your business projections.
Bring the Master Idea to life through a high-level road map with internal and external concepts. Introduce your company’s social purpose to the world to advocate your commitment. Once you present your mission, Generation Z can join your company journey.
In Good is the New Cool, Afdhel Aziz and Bobby Jones, explore the new expectations younger people have of brands, and of an organisation’s contribution to society.
New workforces are looking towards:
Sharing versus sole ownership
Purchasing products involved with social, environmental, and volunteering work
Driving a positive difference rather than receiving professional recognition
Purpose over profit
What do these expectations mean for new workforces?
The overarching themes throughout these trends hinge on connection, empathy, and empowerment. Social media gives the new workforce a ‘glocal’ community. Individuals are focused on how their work can impact a 'greater social good'. People are driven to improving the overall quality of life for everyone.
Generation Z in the Western hemisphere has grown up with the knowledge that they won the lottery of life, and they are looking to change this dynamic. After university, people are travelling to see how they fit into the world, people leave to volunteer, trying their best to make a difference in human equality. When in reality, from an organisational level, if businesses committed to seeing this change as well, they could attract true talent whilst driving global change.
So, to achieve ‘buy-in’ from this generation, companies need to market themselves as contributing social wealth around the world, driving a collective feeling of purpose and commitment.
You need to become the best company for the world, not just the best company on the world.
To learn more on developing workplace branding for Generation Z, please contant Mike Tulley at: firstname.lastname@example.org