The Value of Work

The Scientific Council for Government Policy, in Dutch  Wetenschappelijke Raad voor het Regeringsbeleid (WRR), the Borstlap Committee, and the Platform for the Future of Labor are in agreement: that attention is needed for the value of work. This also includes guaranteeing work for everyone who is or wants to be active in the labor market. With work, people can provide for their livelihood and participate in society. And just as important: work is part of their identity, self-esteem, and emotional well-being for many.

Few people do not consider the extrinsic aspects of paid work, such as a (good) income and security, necessary, but the value of work is about more than that. High on the wish list - for both paid and voluntary work - are intrinsic aspects, such as friendly people to work with and work that appeals to the content.

Work occupies a central position in our lives. We increasingly focus on paid work as we get older. In the twentieth century, work was viewed positively. Work was not only there to earn money but also because it contributes to one's development, development, and autonomy. Most people still consider their free time, family, friends, and acquaintances more important in life than paid work. A large majority sees work as a contribution to society that every healthy citizen should make. A large majority also consider unpaid and voluntary work to be just as valuable to society as paid work. About nine out of ten people think that volunteers make an essential contribution to society. Yet only one in three things that volunteering gives social prestige.

The work content and friendly people to work with are high on the wish list of many Dutch people. Substantive fun work, the feeling that your work matters, that your work has meaning, and that you can be proud of the work you do, can be summarized as 'meaningful work or 'meaning'. Meaning is a primary motivation for 37% of workers. The group that finds meaning in work enjoys the work more, is more loyal to the employer, and delivers higher performance. Aaron Hurst, the author of The Purpose Economy, speaks of a shift to 'the purpose economy'. In this economy, profitability serves to create meaning for people. The average American is willing to sacrifice 23% salary for meaningful work. This may be even higher for the average Dutch person: our country is at number 3 in the list of 'most purpose-oriented countries'.

The importance of meaning

When meaning is embraced, we keep working longer. That is because giving meaning provides a vital feeling, higher productivity, less stress, and even less. A long-term Harvard study even suggests that older people with a stronger sense of purpose in their lives stay physically fit for longer.

Group emotion

For an organization that strives for meaning and happiness at work for its employees, it is very important to make genuine contact with employees and to make connections between them. This also means that they are involved in the organization. You can only create a group emotion if the cooperation is at different levels. This requires that an employer respects and values ​​its staff, and those employees respect and value the employer. What also helps is if you can work towards a goal together. When someone's values ​​align with this common goal, it gives his work meaning; that connection may not always be there. And yet an organization must also continue to emphasize the meaning of the work to those who do indispensable support work, such as the cleaners.

Enthusiasm and autonomy

In addition to a group feeling, autonomy is essential for meaning and purpose at work. People perform better and are more motivated when they are enthusiastic. People like to determine to a certain extent how they carry out their work. That pays off: passionate employees that work one hour longer per week on average and generate € 7,700 more turnover per person. To be inspired, a certain sense of autonomy and independence is necessary. An employee can only handle this if he knows what he is doing and for what purpose. If employees are given little responsibility, they are often less able to articulate exactly what they do. And that is precisely the precondition for finding meaning in work. If someone loses their autonomy, this also negatively influences enthusiasm.

Differences between generations

Not all age groups are equally focused on meaning. An extensive survey by LinkedIn and Imperative (the company of Aaron Hurst, author of the book The Purpose Economy) shows that 30% of millennials are focused on meaning. For the oldest group in the labor market, this is even 48%. The researchers are looking for an explanation for this in the life stage theory of the German psychoanalyst Erik Erikson. He distinguishes different development phases people go through to arrive at an “integrated, meaningful, and fulfilled” life; he freely translates an integrated, meaningful, fulfilled life. Young adults are focused on building lasting and intimate relationships. In middle age, that focus slowly shifts to one’s own identity. This is increasingly derived from a person’s contribution to society and from achieving life goals. That could explain why baby boomers are more focused on meaning than millennials. The fascinating question is how this will develop in the coming years, under the influence of significant problems such as sustainability and quality of life. What does this mean for working at PGGM?