PURPOSE:

YOUR MAP TO 

BEST PRACTICES

Hard data indicates that purpose is what will propels you to the next level of service and competition, while providing a meaningful reason for existing.
Today’s clients, employees, investors and communities are asking profound questions about the impact of business on the structure of society. It's no longer enough to turn a profit to benefit the few. Stakeholders expect a higher objective that benefits the many. 
A well-executed purpose statement defines clear, top-down guidance to business values and objectives, fueling growth and innovation and charting the map to ultimate success.

Purpose is more than a lofty idea.

58

Purpose pays.

Purpose and profitability go hand in hand. 

 

  • The EY Beacon Institute finds that 58% of companies who prioritize both the definition and enactment of organizational purpose experience growth of 10% or more.

  • Compare that with those late to the game or flat out deniers. Forty-two percent of companies resistant to purpose report flat or declining revenue over the same period.

It's a matter of trust.

In this era of constant instability, corporate trust is declining and those acting with integrity are surging to the forefront. Integrity is demonstrated through consistency of actions, values, decisions and outcomes. Brands that make decisions that consistently underscore societal good are rewarded with resiliency. They retain employees, customers and shareholders, even when the going gets rough.
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75%

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83%

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86%

of consumers are more likely to trust a purpose-led company

of consumers are more loyal to purpose-led companies

of consumers will refer purpose-led companies

to others

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Defining an organization's higher cause helps set long-term business directions, differentiates you from other agencies in the category, inspires innovation among team members, increases brand trust and loyalty, and ultimately, and helps the company stand the test of time.

Purpose-driven business goals communicate a deep commitment to do the right thing for the right reason, regardless of the circumstances.

Employees want higher meaning in life. 

Everyone wants to play on the winning team. To be part of something bigger. To find true happiness. 

People power is our greatest asset, and providing employees with a sense of purpose and camaraderie on the job is even more important as competitive salaries among the vast majority of employees. 

 

A proactive talent pipeline only grows when there is a common vision and purpose encouraging everyone within a company to play a role in its success. 

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of leaders say that purpose key to job satisfaction

83%

75%

of consumers are more loyal to purpose-led companies

energy levels are 60% higher among purpose teams

A lack of enthusiasm isn't the only downfall to a profit-first philosophy. According to the State of the American Workplace report, 4 out of 10 employees are currently disengaged at work, leading to negative productivity. With the cost to bring on a new employee being as high as 150% of that employee's salary, it's logical to engage them from the
first day.

Purpose pays.

Purpose and profitability go hand in hand. 

 

  • The EY Beacon Institute finds that 58% of companies who prioritize both the definition and enactment of organizational purpose experience growth of 10% or more.

  • Compare that with those late to the game or flat out deniers. Forty-two percent of companies resistant to purpose report flat or declining revenue over the same period.

It's a matter of trust.

In this era of constant instability, corporate trust is declining and those acting with integrity are surging to the forefront. Integrity is demonstrated through consistency of actions, values, decisions and outcomes. Brands that make decisions that consistently underscore societal good are rewarded with resiliency. They retain employees, customers and shareholders, even when the going gets rough.

 

  • According to a recent Porter Novelli/Cone study, 86% of consumers are more likely to trust a purpose-led company, and 83% are more loyal to those organizations.

  • And to add to the goodwill, three-quarters say they tell others to buy products from the company and 62% share information about them on their social networks.

 

Defining an organization's higher cause helps set long-term business strategy, creates a bigger competitive advantage and differentiation in the marketplace, inspires innovation, increases brand trust and loyalty, and ultimately, and helps the company stand the test of time.

Employees want to do the right thing. 

Everyone wants to play on the winning team. To be part of something bigger. To find true happiness. 

People power is our greatest asset, and providing employees with a sense of purpose and camaraderie on the job is as important as competitive salaries among the largest demographics. 

  • EY found that purpose is a key driver of employee engagement, with 96% of leaders saying that purpose is important to their job satisfaction.

  • Having a purpose statement not only has a positive effect on engagement overall, but twice as many leaders get meaning from work and energy levels are 60% higher.

  • A lack of enthusiasm isn't the only downfall to a profit-first philosophy. According to the State of the American Workplace report, 4 out of 10 employees are currently disengaged at work, leading to negative productivity. With the cost to bring on a new employee being as high as 150% of that employee's salary, it's logical to engage them from the first day.

  • A proactive talent acquisition strategy is only enhanced when there is a foundation of vision and purpose that encourages everyone within a company to play in its success. A KPMG found the proposal so powerful that half of today's workforce would take a 15% cut in pay to do something meaningful. 

 

 

Purpose-driven business goals communicate a deep commitment to do

the right thing for the right reason, regardless of the circumstances.

It's a matter of trust.

In this era of constant instability, corporate trust is declining and those acting with integrity are surging to the forefront. Integrity is demonstrated through consistency of actions, values, decisions and outcomes. Brands that make decisions that consistently underscore societal good are rewarded with resiliency. They retain employees, customers and shareholders, even when the going gets rough.

Screen Shot 2020-09-20 at 4.12.50 PM.png

Employees want higher meaning in life. 

Everyone wants to play on the winning team. To be part of something bigger. To find true happiness. 

People power is our greatest asset, and providing employees with a sense of purpose and camaraderie on the job is as important as competitive salaries among the largest demographics. 

A proactive talent pipeline only grows when there is a common vision and purpose encouraging everyone within a company to play a role in its success. 

  • A lack of enthusiasm isn't the only downfall to a profit-first philosophy. According to the State of the American Workplace report, 4 out of 10 employees are currently disengaged at work, leading to negative productivity. With the cost to bring on a new employee being as high as 150% of that employee's salary, it's logical to engage them from the first day.

Screen Shot 2020-09-20 at 6.05.14 PM.png
Screen Shot 2020-09-20 at 5.48.22 PM.png
Screen Shot 2020-09-20 at 5.55.18 PM.png

of leaders say that purpose key to job satisfaction

83%

75%

of consumers are more loyal to purpose-led companies

energy levels are 60% higher among purpose teams