WHAT IS PURPOSE?
Purpose is the specific, positive role an organisation or brand plays in society using its assets, skills, people, products and services. It is bespoke to that organisation or brand, central to its future and boosts its commercial success.
It should be true both to its unique past and to its unique future.
It should maximise all company resources whether human or material.
It should measurably increase competitiveness and ROI, and be championed and led by the CEO and the Board, engaging with the wider organisation.
It will only have significant impact if it’s a guide to daily decisions and behaviours and inspires innovation.
WHY DOES PURPOSE MATTER?
Purpose focused organisations have growth rates 3 times their sector average.
Source: Korn Ferry, 2016
73% of employees that work at a purpose-driven company feel engaged vs 23% in those without a purpose.
Source: Deloitte, 2016
Meaningful brands outperform the stock market by 120%.
Sources: Havas Meaningful Brands
Unilever’s brands that have a consumer-recognised Purpose are now responsible for 75% of their turnover growth.
Only 13% of employees are actively engaged at work.
Source: Gallup, Annual Employee Survey 2018
77% of millennial employees rate organisational culture just as important as base salary and benefits.
Source: Virgin, Pulse 2017
There is an ever-growing bank of our Purpose Heroes: companies, charities and governments from different sectors and around the world who are hitting it out of the stadium when it comes to Purpose. Here just a few examples.