One of the great concerns that companies have contemplated the most in recent years has been how to ensure their people are motivated, engaged and highly committed to their everyday roles and responsibilities. Companies are spending millions of dollars on employee engagement initiatives – from improving work conditions to embracing agile methodologies, leadership development programs, and now, proposals for employee well-being. Among these fixes is one that is both unique and essential to unlock the future of the company.
For past several years now, a concept is sweeping its way into the scene that aims to help companies make real gains when they’re thinking longer-term. This goes beyond redesigning the employee experience, where people want, not just need, to work each day. This concept is the “purpose” and it goes beyond improving the employee performance or reinforcing motivation.
Purpose is a grand term, but in the end, it is about helping people see what’s so meaningful and purposeful about their job and doing it in a way that the meaning is quantified. If you keep that in mind, and take an authentic approach, you’re likely to find success in putting purpose at the core of your strategy.
Make no mistake: Moving purpose from the periphery of your strategy to its core – where, with committed leadership and financial investment, it is used to generate sustainable growth, stay relevant in a rapidly evolving world, and deepen ties with stakeholders – is not all that needs to be done.
The purpose must give meaning to what the company does, justify its vision and define a way to behave in its environment. The purpose should have a real impact on the outside world and not just maximize the value of the company for its stakeholders.
Therefore, a purpose must inspire the company strategy, its short-term plans and its long-term goals. The company’s actions refer to the purpose and align the interests of shareholders, employees, clients and society in general in search for the common good.