Between 2018 and 2019 businesses have begun to be perceived negatively. According to a study by Deloitte, in 2018 65% of Millennials and Generation Z’ers believed that businesses behaved ethically, and now in 2019 that dropped to 48%. Three-quarters of those polled (up from 59%) believe organizations are more self-serving than ever before, to the detriment of society.
First, the statistics suggest only a number of companies follow through with action while advertising their concern for the problems these generations are concerned with; and this falls flat with their EVP (Employee Value Proposition). Companies use environmental and societal rhetoric to attract talent, yet they fail to follow through.
Being an ethical company, sustainability initiatives are some of the most important programs needed. They need to be in the core values of the organization, supported in a top-down manner, with education given to the entire staff. Employees need to understand why it’s important to your company, how it’s being initiated, and what exactly sustainability means for your organization.
Diversity should be included as a core value as well. It affects company performance, and cultivating a unique and enlightened corporate culture has indicated more business productivity. Diversity also offers varied perspectives and approaches to finding solutions and introduces needed creativity.
Companies need to improve their reputation with current, and future employees. Investing in employee growth will do this and favour companies in the public eye as well. Offering classes or mentorships are some of the best ways to do this, and help your employees secure their professional futures. An added effect will be the positive advertising through word of mouth this will create for your business’s reputation.
Finally, offering recognition to your employees through incentives such as Applauz Points, a lunch with management, or employees outings are all great ways to increase your business’s reputation and will create a business that both Millennials and Generation Z’ers can stand behind.