Indeed, being an emotionally mature company which expresses public, positive views, may help to retain (and attract) leaders of the future – the group known as millennials.
Millennials are those who reached young adulthood in the early 21st century.
According to the 2016 Deloitte Millennial Survey, members of this group often put their personal values ahead of organisational goals, and may shun assignments and potential employers that conflict with their beliefs.
So they are selective about where they will work. But they also have confidence that if they get that selection right, they can make an impact through their work.
“Millennials continue to hold business in high regard: three quarters (73 per cent) maintain that it has a positive impact upon wider society,” the Deloitte report says, pointing out that this figure is unchanged since 2013.
Millennials remain upbeat about businesses' potential to do well. The survey also finds that young workers think businesses are behaving in a more responsible way.
“Millennials very much believe that business success is built on a foundation of long-term sustainability rather than pursuing short term profit maximisation,” Deloitte says. “Millennials judge the performance of a business on what it does and how it treats people."
Diversity Council of Australia chief executive officer Lisa Annese says: “The World Economic Forum predicts that we are on the cusp of a ‘fourth industrial revolution'. Technological, socioeconomic and demographics shifts are transforming the way we work, demanding flexibility in the way individuals, teams and organisations work. We need to grasp the opportunity to be more creative and innovative when it comes to work design.
“Our members repeatedly request guidance on how they can build leaders' ability to (re)design work and jobs. This is a critical obstacle to mainstreaming flexibility in their workplaces and experiencing the associated business benefits."