The meaning of work

They say it's a war for talent out there, but what should you do when the war is won?

Small business owners are more likely to realise the importance of a good hire, whether it's one person managing the accounts or a few dozen people working on the ground. In a smaller team, it's easier to see how important every employee is.

So, what should small business owners do to retain great talent and foster productivity? The key is a solid foundation of purpose and meaning at work.

Increasingly, workers want to do work that matters - research from HR think-tank Reventure shows 72% of Australian workers are looking for greater meaning in their work. Millennials, in particular, are the age group most concerned (77%) with finding purpose and meaning in their work.

For these workers, a lack of purpose and meaning is the norm. This makes work feel like a daily grind, where the only thing that keeps them going is the prospect of going home.

As technology continues to impact how work is done, there is a real risk that employee wellbeing becomes secondary to work output, leading to disengagement. A disengaged workforce is a less productive workforce, which is a drag on the individual and the organisation that employs them.

For workers to feel like their job has no meaning demonstrates a failure by business leadership to communicate and instil their organisational purpose. Employees feel more intimately connected to their organisational values and purpose if they know what they are doing is valuable.

After noticing this trend - where workers were increasingly looking to work to provide a sense of personal meaning - Reventure launched a workplace renewal campaign called 'a future that works' to look at the HR solutions needed for the future of work.

The report, Delivering Purpose and Meaning, proposes six strategies that can deliver genuine change in workplaces around the nation through establishing a culture of purpose and meaning.

Step 1: Include your employees wherever you can

The first step to creating a culture of purpose and meaning is to keep your employees in the loop. Adopting a policy of openness and transparency will demonstrate to your employees that they are trusted and valued.

A great way to encourage participation is to allow your employees to collaborate on what they believe is the organisation's purpose. Get their input on what the business stands for and what it could stand for. You'll be surprised how powerful this can be.

Step 2: Communicate how each employee contributes to fulfilling the broader purpose

Demonstrating how an employee's work is making a contribution to the organisational purpose sounds simple, but is hardly ever done (or done well). Have a conversation with your employee about how their skill set, values and personality make them uniquely equipped to do their job well.

Additionally, consider describing jobs differently - instead of key performance indicators (KPIs) and direct reports, create job landscapes which outline a list of end goals and how these goals are related to those of other employees.

Step 3: Encourage employees to be autonomous

Giving employees greater responsibility is an opportunity for growth. Allowing them to autonomously work towards their goals demonstrates your trust in them.

Greater autonomy also helps people maintain better work-life harmony. Find out what motivates an employee and what they value - whether it's an afternoon off to pick up their children from school or to work from home one day a week. Trust them to work in a way that suits them.

Step 4: Provide all the resources and information employees need

Create an environment that shares all the best resources and information. In this rapidly changing work landscape, jobs often require continuous training.

Make sure your employees have everything they need to do the job - it will emphasise that their work is important and valued.

Step 5: Consider serving a greater purpose

Although an altruistic outcome is not a requirement, it's a recommended step to improve meaning and purpose in the workplace.

More workplaces are discovering that their employees are motivated and inspired by work that serves a wider purpose in society. This in turn fosters pride and loyalty in the business.

Take the time to look beyond profits and the typical business-as-usual routine. By serving a common good, business leaders can foster a culture that is more meaningful.

Step 6: Reinforce engagement

Continually ask yourself how you can improve workplace culture. This step is a reminder that developing a productive workplace culture requires continual improvement.

This could mean mentoring employees to construct a richer and more meaningful career, or giving employees greater control over how their tasks are completed.

Workplaces need a culture of purpose and meaning because, without it, your employees will struggle to find their job valuable. A sense of purpose and meaning will give your employees the drive to start working to their full potential.

Lindsay McMillan is the CEO of HR think-tank Reventure and is leading the national campaign to renew workplaces with his workplace hub called 'a future that works'.