In this context, more and more corporate leaders and experts are recognizing the power of purpose in helping companies meet these new challenges and transform their organizations. A recent survey conducted by Harvard Business Review Analytic Services, sponsored by the EY Beacon Institute, found that although there is near-unanimity in the business community about the value of purpose, less than half of the executives surveyed reported that their company had actually articulated a strong sense of purpose and used it to drive decisions and motivation.
However, for those organizations where purpose had become a key driver of strategy and decision-making, executives reported greater success in delivering revenue growth, driving successful innovation, and undergoing ongoing transformation.
So, what is the business case for purpose? And why is it so important for organizations? In this article, we'll explore the answers to these questions and more.
Building Your Brand with Purpose
A brand is an emotional connection that customers have with a product, service, or company. It exists in the minds of consumers, and trust is its foundation. Customers trust a brand when their experiences repeatedly match or exceed their expectations.
Every employee plays a role in shaping a company's brand, as they are the ones who interact with customers and deliver the brand experience. The quality of service that customers receive can either enhance or damage the brand's reputation.
That's why it's essential for organizations to create a shared sense of purpose among their employees. A strong and articulate purpose can provide employees with a sense of meaning and motivation in their work, which in turn can lead to better customer experiences and a stronger brand.
Creating Purpose in Your Organization
So, how can you create a shared sense of purpose in your organization? Here are a few steps to consider:
- Articulate the "why" of your organization: Why does your company exist, and what is its purpose?
- Link the "why" to the outcomes of each job: How does each role contribute to the company's purpose and mission?
- Get the message across to every individual and team and continue to reinforce it: Ensure that everyone in the organization understands the purpose and its importance.
To learn more about building your brand with purpose, download our eBook "Build Your Brand with Purpose."
Conclusion
In today's rapidly changing business environment, purpose is more important than ever. A strong sense of purpose can help organizations meet new challenges, drive successful innovation, and undergo ongoing transformation. By building your brand with purpose, you can provide employees with a sense of meaning and motivation, which can lead to better customer experiences and a stronger brand.
If you're ready to embrace the business case for purpose, we'd love to talk to you about our proposition. Contact us today to learn more!