Businesses are facing significant challenges in retaining and attracting employees due to a lack of clear brand values and company purpose.
- A study by Berkeley Communications highlights that 75% of employees view company purpose as crucial for their current or future employers.
- Misleading communication from companies is a concern, with 20% of employees critiquing vague job descriptions.
- Around 50% of employees are contemplating job changes, underscoring the urgency for businesses to address internal brand clarity.
- Generational shifts show differing loyalties, with younger workers feeling less aligned with employer values compared to older generations.
Businesses are increasingly at risk of losing valuable talent if they fail to establish and communicate clear brand values and a defined purpose. The international study conducted by Berkeley Communications reveals that three-quarters of respondents find a company’s purpose to be a critical element when considering employment. Moreover, 73% attribute similar importance to the brand values of their current or prospective employers.
Companies that fail to convey their brand values effectively may miss out on top talent. The study highlights that 20% of employed individuals have expressed concerns about the use of ambiguous or misleading terms within company communications and job descriptions. This lack of clarity can be a significant deterrent to potential employees.
With half of the respondents intending to change their jobs, and 17% planning to do so within six months, this situation presents both a risk and an opportunity for businesses. Clear communication of brand values could play a pivotal role in talent retention and attraction.
The study, titled Beyond Branding: Storytelling’s Role in Global Talent Retention, indicates that 52% of job seekers would reject roles at companies whose values do not align with their own. Furthermore, 69% of job seekers believe that well-communicated company values are essential.
Generational differences are evident in attitudes toward company loyalty. While 75% of baby boomers express loyalty to their employers, this figure drops to 55% among Generation Z employees. Additionally, younger generations report less alignment between personal and company values and derive less pride from their employer’s purpose.
Chris Hewitt, Chief Storyteller and Group CEO at Berkeley Communications, emphasises the importance of creating an inclusive and value-driven workplace culture. He suggests that storytelling can foster such an environment, which not only enhances company loyalty but also promotes positive reputations and attracts prospective employees.
Ensuring clear communication of brand values is crucial for businesses aiming to maintain and grow their workforce.
