Small Business Toolbox: Attract and retain talent through purpose

Attracting and retaining talent goes beyond offering competitive pay—it’s about creating a sense of purpose that resonates with employees. For small businesses, aligning around a shared mission can be a powerful way to build loyalty and commitment. When staff feel connected to the "why" behind the work, they’re more motivated, engaged, and likely to stick around. Purpose gives people a reason to invest their energy and ideas in the company’s future, transforming a job into a meaningful role that contributes to a larger goal. It makes people proud to tell their friends and families where they work and why. Hear some reflections from Francesco De Mojana who has a wealth of expertise in value creation and investments globally. Recently, he came to speak to students at Columbia University's School of International and Public Affairs (SIPA), where Barbara teaches.