Published by Jessica Weisman-Pitts
Posted on December 12, 2022
4 min readLast updated: February 2, 2026
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By Pankaj Srivastava, CEO of MentorCloud
The next generation of great companies (and the ones that want to stay in business!) will be the ones that can embrace the shifts happening in the workforce and appeal to the intrinsic motivations that propel the modern workforce. Are you ready?
Attracting and retaining employees is at the top of business priorities in a labor market that’s seeing a record number of resignations. The voluntary quit rate is 25 percent higher than pre-pandemic levels and there were 10.3 million open jobs at the end of October. Couple that with the fact that according to a Gallup report, 79% of the workforce is feeling disengaged at work and you have the perfect storm. How do we retain and engage our talent?
Companies are battling this crisis with the outdated methods of “motivating and incentivizing” their people. This is not going to work.
Today’s workforce demands a sense of purpose, belonging and an ability to make an impact beyond just the self. Their expectations of work have undergone dramatic evolution. Salary and compensation are still important factors, however, work-life balance, recognition and meaning are critical determinants for where people choose to work. Remote and hybrid work environments make it even more difficult to connect with our people, to understand their wellbeing and stay on top of productivity.
We must pay attention to this great reshuffle and rearrangement of priorities. No one desired a “meaningless” job before, however, now, for the new workforce, “meaning and purpose” are imperatives, not options. We must embrace this reshuffling of key determinants for joining and remaining in a role or a company. Leaders need to reset their talent strategy, company goal-setting practices and value drivers to stay relevant and competitive. It is time to move away from “motivating” to “inspiring” our people. That shift is not just touchy feely, it is the fuel for growth moving forward.
What can leaders do to inspire their people to build a great modern organization?
It is time for leaders to change their frame of reference away from just focusing on “company results” to “employee success”. Because, when you do that, you will inspire your people to drive amazing results!
About Author:
Pankaj Srivastava is the CEO of MentorCloud, the world’s foremost people development platform. A startup veteran, he is an entrepreneurial technology executive who pioneered popular revenue-drivers such as Security-as-a-Subscription-Service and helped scaled businesses across the world. Pankaj has held roles as CEO, COO, GM, and CMO, and has expertise in marketing, product, strategy, sales, M&A, and strategic alliances.
Employee engagement refers to the emotional commitment that employees have to their organization, which influences their motivation and performance at work.
Mentorship is a professional relationship where a more experienced individual guides and supports a less experienced person, often aiding in personal and career development.
Human capital refers to the skills, knowledge, and experience possessed by an individual or workforce, which can be utilized to create economic value.
A talent strategy is a plan that outlines how an organization will attract, develop, and retain skilled employees to meet its business goals.
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