For most of us, life without a smartphone is unthinkable. We share updates, exchange messages, and are more connected than ever. But are we really connecting on a human level? Around the world, I see a movement towards a more human, heartfelt connection and a more purposeful existence. For telcos and media companies, enabling employees to feel more connected by a shared sense of purpose, could be a differentiator in winning the war on talent.
I have recently been on a world trip with my family. Although I shared beautiful photos via social media, we only shared the ‘real stories’ during face-to-face conversations once we got home. Real stories about how we were nearly arrested for accidentally trying to cross the US border from Canada. Or about that time when we ended up at the emergency department with our two-year old son. For me, this is exemplary of how technology enables connectivity, while personal, heartfelt connections remain irreplaceable.
The growing need for a more human connection goes hand in hand with the need for a more purposeful existence. Customers are choosing ‘good’ companies to do business with. Employees long for a culture of meaning, a strong sense of purpose and fulfilment in their work. Businesses that display a strong sense of purpose, and act accordingly, are outperforming their peers on the share market, on customer advocacy and (key) employee retention. Being able to attract and retain people with the right (STEM) skills, as well as the ability to make meaningful connections, is a challenge within the telco and media (TMT) industry with many players targeting the same talent pool.
I think TMT companies are uniquely positioned to create an Employee Value Proposition that is about being fulfilled and making a difference in society. This could be a differentiator in winning the war on talent. TMT companies have the ability to help people connect in all aspects of their lives. Through the products and services they provide, but also through their role and contribution to big societal challenges such as fake news, filter bubbles, (urban) movement management or smart cities. These businesses have the connection, the assets (e.g. content and data) and capabilities to make a difference, for example by using real-time data feeds to support management of traffic flows or accelerating Internet of Things to support smart cities.
At PwC, we are on our own journey to become more purpose-led, because we believe this is the way to have impact in a changing world. Though there are many ways to breathe life into becoming a more purpose-led organisation, here are some ways to get started:
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