Here's a concept you may not have heard of for a while: the psychological contract. This was coined to describe the bond of trust between employer and employee which started as "obedience for security". In other words, if I display obedience to you Mr Employer, then you provide me with a secure job.
Of course, this psychological contract was irreparably damaged over the past two decades starting with the waves of downsizings in the 1980's.
The mid 1990's saw the new psychological contract evolve into "initiative for opportunity", that is, you provide me with opportunities then I'll display my initiative. To a degree this still exists today, however, the display of initiative has tended to benefit the individual far more than the employer.
I believe the psychological contract has shifted again. It is now "Purpose and Meaningful Work". Work is no longer transactional - the exchange of loyalty for money or opportunity for outcomes. Rather, work today is a collaborative project between employers and employees that is not dictated from the top down. Rather, the most successful companies clearly articulate their purpose consisting of their vision for the future and the values that will guide their behaviour to get there.
"Meaningful" is the glue which binds the individual to the organisation. If work has meaning, individuals will stay. The challenge is for people to communicate what is meaningful to them and for organisations to be flexible enough to provide the environment for meaningful work to occur.
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