Purpose in business.
Maybe that expression is starting to feel buzz wordy to you. However, people are caring more than ever about the impact companies have on the world, so maybe the concept is buzzing for good reason.
There’s a quote from Michael Kouly, “every activity that is not aligned with your purpose is a waste of resources.” It is a strong statement and a practice that businesses and organizations that want sustainable growth are implementing.
It becomes pretty clear that emphasizing purpose and embedding it into every part of our business means a lot more than throwing around buzzwords.
If a company’s marketing messages aren’t aligned with its purpose and values, then it’s going to have a hard time building a strong relationship with its customers and building a meaningful brand.
People want to do business with companies that share their values and beliefs.
If a company is only focused on profits, it’s going to have a hard time building loyalty both internally and externally.
Internally a company’s purpose should guide everything it does, from strategy, operations, customer service and HR.
When a company’s purpose is part of its culture, it attracts and retains employees who share that purpose. With attraction and retention of talent being one of the biggest challenges businesses and organizations face today, it is not something to overlook.
Purpose driven cultures create a more engaged and motivated workforce, leading to better business outcomes.
It doesn’t take long to realize it’s not enough for companies to just have a purpose statement.
To truly integrate purpose into a company’s structure, it needs to be part of everything the company does.
When a company embraces purpose, we feel its positive impact on the world, creating a better future for all of us.