Businesses without clear brand values and a defined company purpose risk losing both current and prospective employees

Businesses that lack clear brand values and a defined company purpose are at risk of losing their employees.
February 16, 2024

Businesses that lack clear brand values and a defined company purpose are at risk of losing their employees. In an international study looking at workers’ attitudes around company loyalty, Berkeley Communications found that three-quarters (75%) of respondents believe a company’s purpose is an important aspect of their current or prospective employer. What’s more, 73% said the same about their current or prospective employer’s brand values.

A failure to effectively communicate brand values and messages, however, could lead to companies losing or missing out on top talent. One in five (20%) of employed respondents raised concerns over the use of meaningless or misleading terms in company communications and job descriptions.

Employers must take these concerns seriously, especially in light of the finding that half (50%) of employed responders shared that they are planning to change their jobs with nearly a fifth (17%) planning to do so in the next six months or sooner. This presents both opportunity and risk for businesses looking to retain and attract talent.

The new study, entitled Beyond Branding: Storytelling’s Role in Global Talent Retention, conducted amongst workers across the UK, USA, Germany and Australia, found that half (52%) of people looking for work say they would never join a company whose values do not agree with theirs. The research also revealed that clear communication of brand values and purpose is becoming essential in modern business. More than two-thirds (69%) of those looking for work agreed that an employer’s values need to be well communicated to employees.

The research revealed there is a difference in attitudes to company loyalty and brand values across different generations which businesses need to consider. Three-quarters (75%) of surveyed baby boomers say they are loyal to their current employer. This decreases with age, with only 55% of Generation Z responding positively when questioned about their loyalty.  This goes hand in hand with Generation Z feeling less likely to have a strong alignment between their personal values and their employer’s values (60%),as well as feeling proud of who they work for because of their company’s purpose (58%).

Berkeley Communications’ Chief Storyteller and Group CEO, Chris Hewitt, said, “Creating a culture where all employees feel valued is imperative to improving company loyalty. This not only creates a more positive and nurturing work environment but also drives positive reputations and word-of-mouth to attract new team members. Storytelling can be a tool that drives a change in company values, adding a vital human element to the corporate world.”

The study’s findings emphasise the need for a compelling company brand purpose, as it can be a powerful tool for attracting and retaining top talent. A purpose-driven company, coupled with effective internal communication and storytelling, can lead to reduced costs, increased revenue, improved productivity and a positive work environment.

To learn more about how employees’ attitudes towards brand values, as well as how storytelling can improve talent retention, the full Beyond Branding: Storytelling’s Role in Global Talent Retention report is available to download.

Original Article: HRnews

Empower your brand and create a more compelling environment for talent retention. For all your recruitment challenges – contact our HR & digital recruitment specialist Gareth Allison on 02920 620702

Other articles
March 29, 2023

New research finds that the biggest challenge for UK hybrid workers is relationship-building and establishing connections. Over a third of employees (35%) said that this was the main problem they faced. Despite the pressure of a cost of living crisis, half of employees would rather have great relationships at work over a 10% pay increase….

March 06, 2023

Meanwhile, people across all industries have increasingly turned to private work as the cost of living pushes them to seek higher wages. The flexibility afforded by temporary work also appears attractive to those experiencing post-pandemic burnout. For recruitment agencies, all this is causing sudden and pronounced spikes in demand. This is difficult to manage operationally…

Let's talk. Get in touch with us today!

Ask a question
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Risus morbi magna non, vitae placerat molestie viverra molestie odio.

    Thank you, the team will be in touch shortly