Key Factors for Business Transformation in Chile: More Purpose and Meaning for People

We Chileans aren’t feeling satisfied at work.

We recently saw a news report stating that Chile ranks third among OECD countries in terms of the shortest length of time workers stay in their jobs: 31.1% of employees with employment contracts have been with their current employer for one year or less.

The reasons stem in part from specific characteristics of emerging economies: a significant proportion of fixed-term contracts (for example, seasonal agricultural workers), or job insecurity (employers who fail to make required social security contributions).

On the other hand, however, we also see striking figures regarding dissatisfaction with our jobs: 29% of workers in Chile say they are dissatisfied with their jobs, according to the “World Happiness Report 2024,” compiled by Ipsos, or 31% according to the Quality of Life Index, compiled by Sodexo (2022).

In addition to these challenges in today’s job market, a study conducted by Cadem on the younger generations (May 2024) found that what matters most to young Chileans (ages 15 to 29) in life is working at a job they enjoy and that makes them happy.

It should come as no surprise, then, that people within organizations feel unfulfilled; and in the face of this challenge, it would be a grave mistake to focus solely on the “administrative” perspective—such as declining productivity or rising recruitment costs.

As workers, we spend 30% (or more!) of our days at work; therefore, making work more fulfilling, building better relationships, feeling that we’re growing, realizing that what we do makes a difference, and feel more fulfilled should be a central focus if we want to have better companies—in every aspect this entails: better results, but also better in terms of contributing to the environment, society, and, of course, our employees.

Bringing About Real Change

When it comes to people management, Chilean organizations have every opportunity to bring about a cultural transformation and move us off that podium in the OECD rankings.

According to research by Aaron Hurst, a “purpose economist” and partner at Almabrands in Chile, a lack of meaning at work during a health crisis, and investing in helping people understand their personal purpose, is essential to their fulfillment.

Leaders play a key role in making this change happen: they can and should encourage and help other employees to connect with their work on a level that goes beyond the purely functional, and to become aware of what brings them satisfaction at work.

I want to emphasize this point: employee satisfaction or fulfillment is often seen as something each individual must “figure out” on their own, through personal effort. But that’s not the case—organizations and their leaders have a role to play in this fulfillment. What’s more, many companies fail to recognize this universal human need to feel valued and to have an intrinsic purpose in life.

Drawing on several studies that support his book *Purpose Economy*, Aaron Hurst argues that employees find their work experience fulfilling when: 1) they are making an impact that they feel matters; 2) they have a sense of belonging and meaningful relationships with their coworkers; and 3) they feel they are growing both personally and professionally.

There are leadership training programs that help drive change in organizational culture, creating pleasant work environments where people feel valued, respected, and fulfilled. As we embark on this journey, it’s also important to set goals and measure our progress; there are tools available for this as well.

Therefore, there are no excuses: companies must reevaluate and improve their policies to create a workplace culture in which people feel that their work has meaning beyond just their employer’s bottom line—a culture that makes them want to stay and grow, and in which collaboration, communication, and commitment between employees and the company are valued, and a good starting point for this is having empowered leaders who connect with their teams—both as colleagues and as individuals—in pursuit of greater fulfillment.

Column originally published on cooperativa.cl

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