Purpose is more than a lofty idea.
It's what differentiates success, in business and life. Simply put, purpose propels an organization's product or service output while providing a meaningful reason for existing.
Today’s employees, customers, investors, communities and other stakeholders are asking profound questions about the impact of business on the structure of society. 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.
It's no longer enough for a profit to benefit the few. Stakeholders expect benefits for the many.
Purpose pays.
Purpose and profitability go hand in hand. In a survey of 1,500 global C-Suite executives, DDI found that companies who both define and act with a sense of purpose outperformed financial markets by 42%. 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.
A purposeful advantage.
The 21st century has presented businesses of all types a series of adjustment periods. During this time, brands that have earned public trust have been catapulted to the forefront by making a promise to consumers and keeping it. What researchers find again and again is that defining a brand's higher cause and carrying through on it has multi-faceted benefits.
The Business Case
for Purpose
-
Sets long-term business strategy
-
Widens competitive advantage
-
Differentiation in the marketplace
-
Inspires innovation
-
Increases brand trust and loyalty
-
Provides resiliency in unstable conditions
The key to corporate integrity is demonstrating consistency in actions, values, decisions and outcomes. Intention builds reliability, which in turn builds trust.
Brands that make decisions that consistently underscore societal good are rewarded with resiliency. They retain employees, customers and shareholders, even -- and sometimes especially --when the going gets tough.
73%
of people are likely to defend a purpose-driven company
83%
of people are more
loyal to purpose-led companies
86%
of people are more likely to trust a purpose-led company
75%
of US workers will be millennials by 2025
75%
of millennials would change purchase habits to reduce the impact on the environment
Building long-term commitment.
To engage on the right side of global and social engagement, companies must align their goals with that of its stakeholders.
Millennials are now demanding long-term commitment over short-term profitability, and their loyalty follows suit.
Purpose exploration and engagement may force company leadership to re-evaluate how they produce, consume and supply goods and services to make operations, supply chains, products and services more socially and environmentally sustainable.
As a purpose proposal is unrolled, it must provide a clear guideline on business values and objectives, while unifying audiences and challenging them to engage.
Empower employees and benefit from their energy surge.
Everyone wants to play on the winning team. To be part of something bigger. To find true happiness. Providing employees with a sense of purpose and camaraderie on the job is as important as competitive salaries among the largest demographics.
90%
of people are willing to earn less to do meaningful work
A lack of enthusiasm isn't the only downfall to a profit-first philosophy. The cost to bring on a new employee is as high as 150% of that employee's salary, so 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 attracts the best and encourages them to perform at or above full potential.
60%
higher energy levels are reported at cause-led businesses
Currently 4 in 10 employees are disengaged at work, affecting workplace culture, safety incidents, high turnover, absenteeism, and negative productivity
of leaders say purpose is key to overall job satisfaction
96%
PRODUCTIVITY
SURGE
Purpose-driven business goals communicate a deep commitment to do the right thing for the right reason,
regardless of the circumstances.
And that's what Brightling is all about.