Recruitment | How to leverage social impact as an HR superpower

By Andrew J. Troup, Director, Giving & Engagement at Blackbaud

To recruit and retain top talent, invest in a purpose-driven culture

A McKinsey study found that the meaningfulness of one’s work is the third top factor driving retention of employees, after compensation and flexibility. The lack of it is the fourth top factor driving attrition — after career progression, compensation, and poor leadership.¹ These results tell us that, while the usual culprits are still fundamental elements to any recruitment and retention strategy, another factor needs to be considered: a workplace culture that provides meaning and purpose.

But how can organisations deliver on such an abstract concept as ‘meaning’? The answer lies in something many of us are already doing: putting our values into practice and embracing our role as a force for good in the community. This can be done through Corporate Social Responsibility (CSR) or Environmental, Social and Governance (ESG) programmes, or it can sit within the remit of HR and employee engagement. Several studies show that these practices have a significant effect on employee attraction and retention: