A compelling body of evidence supports the idea that labor force members increasingly prefer to work for companies that give them a sense of purpose. The trend is particularly strong among younger workforce participants, and especially those belonging to the millennial and Gen Z generations.
Thus, mission-driven companies have a major advantage when it comes to attracting and retaining talent. Labor market experts note that such businesses engage their employees more effectively. This, in turn, inspires deeper levels of commitment to the company and improves employee productivity. It also helps businesses reduce the high cost of hiring new employees, since these companies do a better job of retaining existing talent.