Does Your Company Need a Chief Purpose Officer?
Why Purpose Matters in Business
Companies today are recognizing the value of purpose in their organizations. It's not just about the products they sell or the profits they make—customers and employees want to engage with businesses that stand for something.
Why is purpose so vital?
How does it benefit companies? What can you do to make sure your organization is purpose-driven? Let's find out.?
The Difference Between Purpose and CSR
Corporate social responsibility (CSR) is often confused with purpose, but here's where they differ:
While CSR addresses societal issues,?purpose is embedded and integrated within the organization, impacting internal and external communities.
The Driving Forces Behind the Purpose Revolution
The spotlight on purpose isn't just a reaction to the news cycle.?
Companies are increasingly being held responsible for addressing the societal problems they've contributed to and possess immense power to facilitate change.?
Now more than ever, employees and consumers seek brands committed to societal and cultural issues and take action on social injustice—especially true for Gen Z—whose members are more socially conscious than previous generations.?
The Benefits of a Purpose-Driven Company
Embracing purpose in your organization helps:
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Strategies for Developing and Implementing Purpose
To build a purpose-driven organization, consider the following steps:
1) Define Your Purpose
Create a purpose statement that encapsulates the beliefs and values that drive your organization and is relevant to internal and external stakeholders.
2) Embrace Your Purpose Wholeheartedly
Ensure your purpose is reflected in all aspects of your organization—from hiring practices to product development and everything in between.
3) Consider Appointing a Chief Purpose Officer (CPO)
Some companies have found it beneficial to appoint a CPO or assign the role to a council of executives to guide and communicate the organization's vision and purpose.?
The Importance of Authenticity
Whether you have a CPO or not, authenticity counts.
Employees and customers will know if you're insincere or lack clarity. Taking the time to define and integrate your company's purpose is one of the most valuable investments you can make.
If you want to learn how we help companies align their purpose and technology, contact us at?[email protected].