Putting Purpose Over Paychecks
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A quintessential aspect of work — and life in general, for that matter — is meaningful purpose.? Those employees who can fulfill their sense of mission to achieve impact feel empowered and more satisfied with their jobs. Can that purpose be measured? Consider this remarkable finding from BetterUp: Nine out of 10 workers would accept a pay cut in return for a more meaningful job.
What exactly is "purpose" at work? According to Deloitte, it involves a passion for what you are paid to do coupled with a desire to embrace new challenges and connect with others. Employees who are fortunate enough to find purposeful roles report fewer sick days and put in longer hours willingly. They also experience higher levels of engagement with sharper focus.
How purpose feels
Most of us know it when we feel it. Think back on times when you have felt the most energized and motivated. You can doubtless remember the excitement, vitality and commitment to a particular project or role. It might reflect an element of financial compensation, inspiring relationships at work or participating in the thrill of innovation either solely or within a team. Perhaps you are fulfilled by helping others in need. One Yale School of Management researcher discovered hospital janitors regarded their work primarily as support to patients' healing.
As a process of discovery, purpose can be ongoing and iterative. It may shift over time, and you might outgrow people and interests. But at the same time, you can learn to develop mental resilience. Along the way, though, there might be risks of burnout. Nevertheless, humans are generally hardwired to be tribal and driven by collective goals. That means they need to connect with a larger force to join in contributing to the greater good.
You might wonder, what are the connections between purpose and happiness? In a sense, the former tends to be more significant. It is not productive to chase fleeting emotions of pleasure. On the other hand, you ideally need to strike a balance between purpose and joy.
Generations of hamsters on wheels
Since 2009, when the Great Recession touched the ranks of both workers and managers, a tide of instability has upended some expectations previously taken for granted. Traditionally, the prevailing cultural mandate was that employees would exchange monetary compensation for satisfaction and the chance to climb higher rungs for increased pay.
COVID-19 was a milestone. Many workers, from doctors to bus drivers to store clerks, saw evidence of how the public needed them. According to Deloitte, the pandemic increased "individual responsibility," with three in four millennials growing more sympathetic to the needs of others. Yet they still expected management to "walk the walk." In fact, by 2021, McKinsey was reporting that employees were starting to reflect more deeply on their own lives' purpose and believed their companies should provide opportunities to fulfill it.
How can employers do so? Realistically, it is not possible to impose purpose on anyone. Harvard Business Review found that while 89% of leaders acknowledged that purpose drives satisfaction, only 46% described their organizations as purposefully run.?
There is a gulf between executives and workers. Per McKinsey, 85% of leadership feels purpose versus just 15% of the rank and file. Generation Z is taking note. Having witnessed previous generations endure multiple recessions and debt loads, they have learned to seek purpose beyond their workplaces. Besides, the internet has introduced various ways to make a living.
Make your own meaning
If work purpose is eluding you, try these exercises:
If you are still searching, don't fear a career transition. Your future is in your own hands.
Kathleen Hunt, President
Personalized Payroll Services
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