What defines a company’s purpose? How do you move from theory to action? And how do you measure your success? As part of Re_Set’s new ‘Best Practice’ series, Director, Emma, Nineham, explores these issues, and more, with practical steps for starting your own journey towards a more purpose-driven future
The last few years have seen more disruption than ever before. And not just thanks to the pandemic. A “washing machine of change” has included everything from environmental issues and advances in technology, to a renewed focus on social inequalities. In the world of work, shifting generational demands and an increasingly disengaged workforce have led to ‘The Great Resignation’, as employees, who are more driven by their values than ever before, leave organisations they feel don’t meet them.
It all raises some interesting questions: are businesses doing enough to address these issues? And can they afford not to? While once profit was the only motivator for leaders, there is now a greater expectation that this should be joined by a sense of purpose – for a company to make a positive difference to the world.
Global disruption offers a fantastic opportunity for businesses to engage and act. Organisations that don’t will face a backlash – from customers, employees, and yes, even investors, who in recent years have largely reshaped how they define ‘value’.
But don’t just do it because you’re afraid of what will happen if you don’t. Also think about the benefits that await you when you do.
The benefits of corporate purpose:
- Greater retention of talent, with a workforce that’s empowered, inspired, and aligned by a common goal.
- Organic performance improvements, as individuals and teams can better connect what they do with the company’s reason for existing.
- Greater organisational resilience, as everyone is aligned around a common reason for doing their role well. The result of which is often greater agility in how to get to the required outcome when faced with disruption.
- An attractive proposition in a highly competitive recruitment market, as a company’s purpose is increasingly becoming a ‘first-filter’ for jobseekers.
- Customer acquisition and retention, when a strong narrative is created to demonstrate authenticity and an interest in more than profit.
- Greater trust in the brand, as all stakeholders, including investors, are better able to see the connection between purpose and the material performance of the business.
Perhaps we’re already preaching to the converted. Re_Set knows and works with enlightened leaders, like you, who already ‘get it’. For them (and you), the issue isn’t really about the why – it’s about the how.
Many leaders have lost sight of their north star during the chaos of the last two years. Most want to lead organisations driven by purpose. Few know where to start.
The good news is that ‘purpose’ shouldn’t be overcomplicated. At its heart it should capture your organisation’s reason for existing, and the impact you want to have on the world. Want even better news? We know how to help you understand and articulate your company’s purpose and communicate it both internally and externally.
Where to begin with corporate purpose?
This three-part series explores how to define or reignite purpose in your organisation, how to ensure this becomes something that’s lived in every corner of the business, and how to hold yourselves accountable to keeping this purpose front and centre.
Why should you listen to us? Re_Set is a small but mighty boutique consultancy. We’ve worked with global clients, including Michael Kors Europe and Retirement Villages Group (an AXA company) to define, embed, and measure their purpose. We’ve convinced leadership teams in boardrooms around the world, galvanised thousand-strong employee networks, and positioned organisations, using the power of purpose, to navigate disruption of all kinds.
So, when you’re ready to take the first step on your own journey to purpose, we hope this series will help you on your way:
- Part 1: How to define purpose in your organisation
- Part 2: How to embed purpose in your organisation
- Part 3: How to measure the power of purpose
Emma is a Director at Re_Set. Want to talk to her about people-led change and purpose? Email her. Meet the rest of the Re_Set team here
