Thriving with Purpose

Purpose is powerful because its benefits can be so far-reaching. Numerous studies have found that purpose-driven organizations are often more profitable than their competitors, have more loyal customers, more engaged employees, and excel at innovation and change.

BDO’s purpose “helping people thrive, every day,” informs and guides every aspect of our firm, from who we are, to what we do, to where we are having an impact in our communities and in society more broadly. We recently launched our Thriving Campaign showing how our purpose defines and shapes our culture, and what that means to our people, clients and communities. We wanted to explore how purpose helps everyone at BDO thrive so, each person in turn, can help others thrive.

In sharing these stories, we know that for our organization and others, having a strong culture anchored to purpose is an essential strategy for building a resilient, sustainable business long into the future. We also know, for many organizations, purpose is easier said than done.

In our research, we were struck by a particular finding from a 2020 survey called the B2B Purpose Paradox: While 86% of B2B companies said purpose was important to their business, only 24% said that purpose was embedded in their business to the point of influencing culture, innovation, operations, and their engagement with society. In other words, there is a significant gap between “stated” purpose and “activated” purpose.

We have been mindful of this challenge as we continue to activate purpose at BDO. We know we can’t just declare our purpose and hope it resonates. We need to back it up with action and conviction, support it through programs and engagement, and consistently measure it. We are actively supporting our professionals who wish to pursue work or volunteer opportunities that fulfill their own unique purpose. Our aim is to offer the resources and opportunities necessary for our people to thrive wherever they may be on their career journey and in their lives.

As a leader, one of my responsibilities is to help foster a sense of shared purpose throughout the organization. Not long ago, at our annual partner meeting, we held a session to help people fully understand what makes them thrive personally. We believe that intentionally developing this self-awareness will help these leaders cultivate shared purpose with their teams. It’s one key step in helping everyone in the organization connect their individual purpose to our firm’s purpose. In time, this notion of shared purpose energizes people and contributes to their sense of belonging as well as greater engagement.

At BDO, we are striving to make sure that purpose is not a program or an exercise. It’s certainly not a marketing slogan. It is a central part of our culture. That’s why, as leaders, our job is not to “implement” purpose; it’s to encourage engagement and connectivity with one of the central tenets of our business to help it flourish.?

Purpose, for that reason, requires non-stop commitment. It’s a commitment well worth making. It raises the bar on client service. It challenges us to help make the world a better place. By unlocking individual purpose, it helps our own people thrive. I’m convinced that a purpose-driven business is more resilient and sustainable. It helps everyone thrive.??