By Jason Richmond, CEO and Chief Culture Officer, Ideal Outcomes Inc.
Chances are your company has a beautifully worded purpose statement. Someone in the marketing department eloquently expressed the corporate desire to contribute to the world and not just be a profit-making machine.
Was the thought process behind your purpose statement based on research showing that consumers and employees favor such companies? A study by Cone/Porter Novelli (registration required), for instance, found 79% of consumers said they'd be more loyal to purpose-driven brands than traditional brands. Studies have also shown that employees who see their job as meaningful perform better and identify more strongly with their company.
Why not give customers and employees exactly what they want?
You should—as long as your purpose is real and not an opportunistic marketing gimmick or an attempt to appear socially conscious that’s been labeled “purpose washing.” Companies eager to jump on the purpose bandwagon—without having a true, meaningful purpose—are in danger of tripping themselves up. As Becky Willan, co-founder of a brand purpose agency, put it, “In the rush to stand for something, some organizations have risked putting the purpose ‘story’ ahead of the purpose plan and actions.”
So, how do you make sure you have a real corporate purpose?
Was the thought process behind your purpose statement based on research showing that consumers and employees favor such companies? A study by Cone/Porter Novelli (registration required), for instance, found 79% of consumers said they'd be more loyal to purpose-driven brands than traditional brands. Studies have also shown that employees who see their job as meaningful perform better and identify more strongly with their company.
Why not give customers and employees exactly what they want?
You should—as long as your purpose is real and not an opportunistic marketing gimmick or an attempt to appear socially conscious that’s been labeled “purpose washing.” Companies eager to jump on the purpose bandwagon—without having a true, meaningful purpose—are in danger of tripping themselves up. As Becky Willan, co-founder of a brand purpose agency, put it, “In the rush to stand for something, some organizations have risked putting the purpose ‘story’ ahead of the purpose plan and actions.”
So, how do you make sure you have a real corporate purpose?