WHY PURPOSE MATTERS
What’s In It for Leaders, Talent and their Companies? Pursuit of purpose is a powerful and compelling approach to drive: ▪ Sense of direction and career path clarity for leaders and emerging, high-performing talent ▪ Engagement for talent to bring their most inspired presence to their work ▪ Individual and collective insights for organizations to make talent and leadership decisions regarding optimal roles, performance and contribution ▪ Alignment with company strategy to give everyone a compelling ‘why’ The Business Case for Purpose in Leaders/Talent There is compelling empirical evidence to support how Finding Your Forte can help drive your key objectives to attract, develop and retain emerging millennial talent.
Actively Engaged
Not Engaged
Actively Disngaged
70% of leaders / workers are not engaged in their work or career.
“Two vital steps to fixing your employee engagement problem. ▪ Focus on purpose ▪ Connect to the bottom line” - Kevin Cope, “Seeing the Big Picture: Business Acumen to Build Your Credibility, Career, and Company” “If you can hire people whose passion intersects with the job, they won’t require supervision at all. They will manage themselves better than anyone could ever manage them. Their fire comes from within, not from without.” -Stephen Covey
ATTRACT (Talent and Leader Acquisition) According to a new survey from CareerBuilder, employers estimate that, on average, they lose more than $14,000 for every job that stays vacant for three months or longer, and 1 in 6 companies say they lose $25,000 or more.
$14k for every unfilled need that’s over 3 months old
DEVELOP Every year of delaying leadership development costs the typical organization an amount equal to 7% of their total annual sales.
Between 9% and 32% better retention through leadership development
Employee Retention ▪ Between 9% and 32% of an organization’s voluntary turnover can be avoided through leadership development. ▪ 50% replacement cost (between 30% and 250% of annual salary) Customer Satisfaction ▪ Better leadership can generate a 3 to 4% improvement in customer satisfaction scores ▪ 1.5% increase in revenue growth
SOURCE: Making the Business Case for Leadership Development
RETAIN
More than 60% of millennials leaving their company in less than three years
▪ Gallup has estimated that employee disengagement costs the overall US economy as much as $350 billion every year or at least $2,246 per disengaged employee.
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Talent & Leadership on Purpose
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