Purpose Beyond Profit: Becoming an Exemplary Employer
The world is constantly changing, and businesses must continuously adapt. In this new world of work, having a clear and compelling purpose is essential for organizational success. Today’s employees and job seekers consider purpose a deciding factor in their employment decisions. Employers that exemplify their organizational values through strategic management and are driven by purpose are better placed to recruit, retain, and meaningfully engage their stakeholders — both internally and externally.
Crafting a meaningful purpose statement
A meaningful purpose statement both inspires employees and establishes a call to action. In addition to clearly expressing an organization’s intent, a well-crafted purpose statement:
Sets your business apart. Every business has competitors. Other companies may try to replicate your products and services, but they cannot replicate commitment to your unique organizational purpose. A genuine, clear purpose resonates with employees and customers alike, and lays the groundwork for your company’s success.
Drives creativity and innovation. Your purpose statement defines your organization’s path forward. When goals go beyond financial performance — extending to how you measure progress, for instance — employees are inspired to get creative and offer new ideas in alignment with your overall vision.
Informs company culture. Without clear purpose, employees can feel unmotivated and disengaged. A purpose driven culture supports unity and commitment to a shared goal, which enhances engagement and improves the employee experience.
Ties the emotional to the rational. Working as a positive force in the world is a natural human inclination. Purpose driven organizations clarify this desire, and create a concrete strategy to achieve it, by engaging in positive action while still offering a viable and enjoyable employee experience.
A purpose statement doesn’t need to be elaborate; in fact, it should be brief and concise — yet inspirational. Every organization is different, but the goal for creating a meaningful purpose statement is universal — it establishes the connection between your company and the benefits it delivers to people through its products and services. It should be short, specific, easy to understand, and tangible. Creating an authentic and meaningful purpose statement is a process, the end result of which should engage and inspire employees to make it their own.
Leadership and commitment to purpose
Crafting a meaningful purpose statement is only the beginning — organizations must also fully embody and exemplify their organizational values through strategic management. This requires intentional effort and dedication, particularly by leaders. Leadership plays an integral role in creating, articulating, and inspiring commitment to purpose throughout an organization.
A strong, purpose driven leader is thoughtful in all they say and do, accessible to employees, and engaged at a granular level. They may be tasked with making difficult decisions for the organization, but by being guided by a clear purpose, these decisions are more likely to benefit stakeholders in positive ways.
A purposeful culture
It’s clear that organizations, and leaders, must embody a strong sense of purpose. But equally as important is ensuring employees feel connected to that purpose through their work. Connecting individual and organizational purpose leads to several benefits, including:
Easy adoption of flexible work models. A sense of purpose creates a culture of shared trust. When everyone is focused on the same purpose and understands how they contribute to organizational goals, adapting to new work models is more feasible.
An enhanced employee experience. Employees who see a purpose statement brought to life by their employer’s public behavior, leadership, and policies are more likely to feel they are contributing and acting as part of a team with clear and attainable goals.
Increased employee engagement. The purpose driven organization is also people centered. When companies focus on people and purpose, employees feel recognized and heard, which drives more authentic engagement.
Higher productivity and profitability. Flexible work models offer a variety of scheduling and workplace options. Virtual workplaces, dispersed workforces, and flexible clocking options create a dynamic in which employees work when and how they are most productive — and increased productivity improves profitability.
Less supervising, more inspiring. While traditional management practices are time consuming and expensive, commitment to a shared purpose creates a culture of “guided autonomy” that lends itself to “less supervising, more inspiring” leadership. In this strategic management model, expectations are clear, processes are transparent, and employees are empowered to accomplish tasks in ways that work best for them.
The purpose driven organization
People find purpose in their work when their organization’s purpose is clearly defined, frequently shared, and modeled by leadership — in fact they seek it. Acting as an exemplary employer — and emphasizing a people centered environment — is a worthy, and attainable, goal. Engaged employees are fulfilled employees. In this era of chronic attrition, organizations that put the time, effort, and commitment into molding a strong connection between business and purpose — and communicate that purpose consistently and honestly — create an environment employees are far less likely to leave.
Read more about the discipline of purpose at fitch-consulting.com.