Meaningful work increases productivity and motivation of employees.
In the whitepaper from Guidant Global, The human connection: Why meaning is so important to work’, employees who find their work to be ‘very meaningful’ spend an extra hour each week working, which is the equivalent to a 2.5% rise in productivity.
It also means they take two fewer paid days of leave each year, which again boosts productivity, this time by 1%.
Interestingly though, pay on its own is not the key motivator for employees, according to the research; indeed, younger generations are driven by being part of something ‘bigger than themselves’, according to the report.
Ultimately, working in positions that provide meaning to their lives is crucial.
It is something Guidant Global claim is achievable by companies emphasising why employees and their jobs are important to business; this connects individual jobs to a bigger purpose.
This is something especially pertinent in the UK, where productivity is behind the rest of the G7 advanced companies.
Employers need to grasp the opportunity to drive improvement by giving their employees a sense of fulfilment, meaning, inclusion and purpose.
Charlotte Woodward, People Service Director at Guidant Global, spoke about the company’s approach to ensuring staff feel their work is meaningful.
She said: “Our business strategy is ‘People Lead Growth’ and the success of our business depends upon and revolves around the welfare and motivation of our people.
“We know from the Taylor Report (a review of working practices in the modern economy) that pay alone does not motivate people – underscoring the importance of ‘good work for all’.”
If businesses take the time to understand the impact of each employee’s remit and how it benefits customers, it ultimately shows understanding for what the staff are doing and how they are positively affecting the business and its overall success.
Employees feel valued, only increasing their feelings of fulfilment.