Did you know that the now 20-34-year old population, also known as Millennials, has become the largest share of the U.S. labor market? Surprisingly, it’s true. So as the Baby Boomer generation retires and Millennials become increasingly important in our companies, what does this mean for employers?
According to a 2016 survey conducted by Deloitte, it means employers should take note of the motivations of this new generation of employees. In their fifth global Millennial survey, Deloitte found that “Millennials feel that most businesses have no ambition beyond profit and there are distinct differences in what they believe the purpose of business should be and what they perceive it to currently be.” This misalignment with personal values is contributing to what the study refers to as a “loyalty challenge,” making it harder for employers to recruit and retain Millennial talent. However, the study concludes by indicating that employers focused on a purpose beyond financial success are on the right track to winning over tomorrow’s leaders.
With a mission of “Building Good” for our clients, ourselves and our communities, purpose beyond financial success is our goal at Stone Ward. It’s also one of the 20 principles that guide our daily actions as an employee-owned business. Seen around the agency in conference rooms and on employees’ desks, we’re reminded daily that “Business should be profitable, ethical and fun. If it’s not, what are we doing here?”
You see, we don’t just have a set of principles, we live these principles. We believe in them and we believe that abiding by them makes our relationships stronger, our work better, and our clients more successful. And don’t forget the fun…we have lots of that! Maybe that’s why, in an industry known for higher employee turnover than most, we can celebrate with partners who have been Building Good for 10, 15, even 20+ years!
To celebrate the importance of these principles in our daily work, we’re breathing new life into them through a series of illustrations, as concepted by various employees. We hope you’ll follow along on Facebook and Instagram. And, we hope that as the series unfolds, your business is motivated to define your values and to inspire your employees to rally around them. It could make all the difference in fostering loyalty for years to come.
Illustration by Becca Hawk, Stone Ward Copywriter