Based on the data from the Lynxeye Purpose Index™ 2023, we have identified eight trends that will affect purpose-led companies in the next year.
Purpose trend 2023
Being a thoughtful employer will be one of the most important roles for companies in the coming years. Record numbers of employees are reevaluating career choices and people are looking for employers that will make them feel valued. Companies that act on this will have a great advantage in talent search and retention in the future.
Working life is on people’s minds. The pandemic fundamentally changed the job market and the relationship between employer and employee on a global scale. Record numbers of people are reevaluating career choices and considering changing jobs or working structure, while at the same time fearing losing their jobs as a potential recession nears.
The study shows that people think that providing fair working conditions is the single most important way companies should contribute to society. Creating jobs, educating people and improving equality are also top priorities according to the public. This makes the role of employer one of the most important for companies in the coming years, especially with an economic downturn approaching.
—Companies that can stay focused and be the fair and thoughtful employer that people want and expect will have great advantages in talent search and retention in the future.
Recent surveys show that people will be looking for relational factors such as feeling valued and a sense of belonging. A strong sense of purpose can inspire employees when things look bleak. And we know that having engaged employees builds customer preference and ensures that companies are seen as strong future brands.
Challenges like the battle for key talent that many industries are experiencing will not end with a recession. Companies that can stay focused and be the fair and thoughtful employer that people want and expect will have great advantages in talent search and retention in the future.
The following companies scored high on associations related to caring for resources in Lynxeye Purpose Index™ Global 2023.
Data deep dive
Challenges and needs related to work-life quality are ranked as very important for companies to solve in all seven markets surveyed in the study. They cover many different aspects of professional life: job creation, fair working conditions, equality and educating people. ‘Offering fair working conditions’ is the most important challenge according to the public globally.