Purpose and Mission Matter. A lot.
Josh Bersin
Global Industry Analyst, I study all aspects of HR, business leadership, corporate L&D, recruiting, and HR technology. ?
This week Deloitte released research that further proves that purpose and mission are tremendous drivers of business performance. Companies that define themselves by their higher level values deliver greater levels of growth, innovation, profitability, and competitive advantage. (Infographic for download here.)
The data is striking. Among the 1,000+ respondents (300 executives), 82% of the "purpose driven" organizations believe they will grow this year, vs. only 48% of others.
But there's more. These "purpose driven" organizations are also more innovative and agile (67% more likely to become or maintain their industry leadership and 98% more likely to deal well with industry disruptions).
As we describe in our Irresistible Organization research, today's economy rewards companies that define themselves in a way that have a holistic look at their role in society. Companies exist not just to make a profit, but to add value to customers, partners, shareholders, employees, and suppliers – all in an integrated way. We can’t exploit one group on behalf of another anymore.
These “Firms of Endearment,” as they are called (wonderful book by Raj Sisodia and John Mackey), define themselves through the value they deliver to customers, stakeholders, and society. They are “soulful” – and you feel it when you do business or work for them. Not only are they great places to work, they're great companies to do business with.
Our role as HR and business leaders is to always ask "why."
"The secret of success is constancy of purpose" -Benjamin Disraeli
Why are we developing this product, selling this service, or working on this project? Is it only to make a little more money or is it truly make another person or business's life better? If we think about the latter we will find ourselves thinking bigger, working harder, and becoming even more inspired by what we do.
About the Author: Josh Bersin is the founder and Principal of Bersin by Deloitte, a leading research and advisory firm focused on corporate leadership, talent, learning, and the intersection between work and life. Josh is a published author on Forbes, a LinkedIn Influencer, and has appeared on Bloomberg, NPR, and the Wall Street Journal, and speaks at industry conferences and to corporate HR departments around the world. You can contact Josh on twitter at @josh_bersin and follow him at https://www.dhirubhai.net/in/bersin .
Other Recent Articles by Josh Bersin:
- Are you an Overwhelmed Employee? What to do about it.
- How to Build The Irresistible Organization
- Learning to Be Yourself
- The Myth of the Bell Curve
- What's Good for Women is Good for Business
- How to Make Work Fun
- Why we Do Need The HR Department
- Are Performance Appraisals Doomed?
- How I Hire: Trust Your Gut
- The MOOC Market Takes Off
- Employee Retention: The Time is Now
- The Datafication of HR
Aiming to foster all that benefits life!
10 年It matters much more if you are having a difficult time adapting to the organization. Some companies are just the right fit for you, so you keep constantly growing which takes away the some of the importance of the mission. But try that in a company where you have some issues fitting in, growing, or that are just so small they don’t have the position you aspire to have regardless of your performance. Then you will start trying to make sense of what you are doing, why you’re there and what are going to be your next steps. This is to me the value of the mission described in this article, if you are aligned with the company’s mission you are more likely to endure the difficulties of the mismatch between your personal goals and the organizational goals. If the company culture is not driven by the mission any employee struggling to fit will find it that much more difficult to convince him or herself it is worth staying. This is just one of dimensions that showcase the importance of having a strong mission, vision and values, and a culture that strives to attain them.
Philanthropy - Spiritual Direction - Public Theology
10 年I absolutely agree! If you want to succeed as an organization or as an individual (whether that is short or long term) you have to know what you are aiming for. Taking the time to thoughtfully and clearly define your purpose is critical - and you need to make sure you work with someone who is able to help you or your organization understand what your purpose is, not tell you what it should be!
Senior Manager, Global Sales Learning at Cognizant
10 年Agree with "purpose" being a key motivator. Especially today, employees not only want jobs, they want jobs that matter. Purpose-driven motivation, or a sense of value to the business, is critical to employee retention and performance. Always great to see supporting data! Thanks for sharing.
Writer, organization & economics professional
10 年Taking that holistic approach, having a purpose and a mission can be detrimental if they are pointing you in the wrong direction. Which often happens when mission and purpose statements are old. So even these are important only within context. "Why are we doing" this, that or the other indeed. And also: why are we still doing it?