What is this Purpose, and do you care?
Our great friend, coach and guest blogger - PJ Stevens
Here’s a simple definition of a purpose, ‘A higher-order reason for a brand’s existence that goes beyond making money and adds value to society,’ and is true for our individual brand as for teams and organisations.
What is the Power of Purpose? Having a clear and compelling purpose is now becoming increasingly essential for any company or brand which seeks to attract talent, inspire its community and out-innovate its competition. In my view, ‘Purpose sits above everything and elevates people’s thinking and behaviours.’
A purpose can act as a North Star, a guiding light that allows everyone in the company from the CEO to the newest employee to understand what they are all there to accomplish and provide a filter for daily decisions and actions. It should be a mantra that represents the DNA at the core of your company.
In essence the purpose is the ‘why’ in business (Simon Sinek, Golden Circles) and is a ‘crucial starting point to unlock potential’. In this current climate, can anyone ignore an opportunity to tap in the wealth of potential that exists in business?
Huge losses can be found in the people elements of business, such as wasted time, missed opportunities, untapped potential and personality clashes, indeed the CIPD suggest 25% of a managers time is wasted on this, whilst I have heard some HRDs say they suspect its nearer 40%. Multiply this waste through the company and bottom-line impact is horrific, but all too often overlooked. There is no need to put up with all these losses.
By unearthing and living your Company Purpose you will tip the balance of success in your favour, primarily by unleashing potential and aligning your resources behind something worthwhile. Further, if you can help individuals understand their Personal Purpose, and weave that into the Company Purpose you experience what has been described as a ‘multiplier effect’ to people and performance, which can be seen in the profitability of the business.
Remember that old expression; on purpose? Think about the power of when you acted ‘on purpose’, be it teasing a sibling, helping a friend or making decisions. When we think and behave on-purpose, we are almost unstoppable. Historically we have seen this from great feats of engineering to life changing acts of humanity. So, if we can align that energy behind a common agreed Purpose, the company itself can become unstoppable and deliver value and positive impact as a result, which might be measured through the likes of ESG, brand value or the number of quality applicants wanting to work there.
Living On Purpose isn’t easy, but if you care about the future and want to create an organisation fit for the future, then there’s no doubt that Purpose will play and ever more important role.