In Today's World Every Company and Every One Needs A Reason For Being

This is part of LinkedIn's new Newsletter Series. To get weekly exclusive CEO interviews, and insights on leadership, the future of work, and employee experience hit the "subscribe" button above.

Some organizations are great, some...not so much. You can tell the difference between these types of organizations almost as soon as you walk into the office, sit down for an in person or virtual interview, or talk to someone who works there. Truly great organizations care about their people and create high-quality employee experiences. These are the companies that are focused not just on increasing their bottom lines, but on building communities for their employees and customers where everyone is engaged and moving forward.

One thing that sets great companies apart is that they have a reason for being. Every company has a mission statement, but a reason for being turns that on its head. This isn’t your typical corporate jargon but instead showcases the organization’s values and what it is willing to do for its employees and customers.

To be a powerful reason for being, it needs to contain four important parts:

Shows the company’s impact. Employees want to work for an organization that does good in the world and in the community. This is especially true with Millennials, who are often willing to give up higher pay if there is a strong mission or principles with the organization. Even for-profit companies can have a big impact on the community that their employees can get behind. Think about Airbnb’s goal to belong anywhere or Starbuck’s mission to nurture the human spirit, one cup, one neighborhood, and one community at a time. These reasons for being show that any type of company can have a positive impact on the world.

No talk of money. Many organizations fall into the trap of turning the focus of their mission statement into being a leader or the best in their industry. They want be #1! This shows that the most important thing for that company is competition and financial gain. Not everyone can get behind money as the driving factor, especially if it comes at the sacrifice of employee experience and a strong sense of community. Leave money out of it and focus on other goals for your company and your people.

Something unattainable. Goals that can be met are great, but there’s something about setting your eyes on the stars and aiming for something that you can’t actually grasp. A reason for being is an overarching goal that gives the company something to constantly work towards. An organization might not be able to ever actually bring a smile to the face of everyone in the world or end childhood hunger, but they can make it their mission to try. With an unattainable goal, there is always room for hope and progress.

Rallies employees. The goal of a reason for being to make employees excited so that they want to come to work and put forth their best effort. Employees and customers are more likely to be excited about a motivational message that encourages them to build connections and do good. A reason for being is unifying and provides a sense of purpose for where the company and its employees are going. A good reason for being finds commonalities between people and encourages them to work together.

Organizations that have reasons for being are more likely to have engaged and fulfilled employees. These types of organizations can easily point to their reason for being and showcase what the company stands for and where it is going. But it’s not just the company that can have a reason for being—employees and teams can have them, too. Find what motivates you and your employees and create a reason for being to act as your goal and rally cry.

To bring this to life I put together the following video which I hope will motivate and inspire you. You can subscribe to the YouTube channel for more videos.

Leadership is changing. What are the skills and mindsets you need to master in order to lead in the new world of work? According to over 140 of the world's top CEOs there are 4 mindsets and 5 skills that leaders need to master. Learn what they are and hear directly from these leaders by downloading the PDF below.

________________________________________________________________________

If you enjoyed the article and want more content like this here’s what you can do:

1. Subscribe to The Future of Work Podcast where I interview business leaders around the world each week. 

2. Grab a copy of The Future Leader which has been endorsed by the CEOs of MasterCard, Best Buy, Oracle, Audi, Unilever, Domino’s Pizza, Ritz Carlton, Kaiser, and Marshall Goldsmith. It explores the most essential skills and mindsets for future leaders.

3. If you are or want to be an entrepreneur then my wife and I just launched a brand new podcast on how to Be Your Own Boss, called the BYOB Podcast where we share what we did and how we did it. You can subscribe to that here.