For most, end of year means we reflect on two questions. How have we done? What will we do? Those questions fuel two critical functions for helping individuals and organizations. 1) Performance Reviews. and 2) Strategic Planning.
The question/comment I get most often when I’m talking with CEOs and Leaders about Purpose boils down to this. I get it, Purpose-prioritizers outperform. What do I do to start tapping in to that in my organization?
Assuming you know your Why, the next steps of Purpose, the “so what, now what” steps, boil down to this: “connect the dots,” and “flip the filter.” They’re two sides to the same coin that create powerful outcomes. Here are a couple of examples:
Example 1 - Performance Reviews and Planning
You know Purpose-prioritizers outperform. You know that Performance Reviews and Strategic Plans drive the behaviors you want from your team. You also know you’re coming up on both. So, have you connected the dots and created a plan to:
Example 2 - Make it a Strategic Goal
You know that you emphasize what’s in your strategic plan. You know that you want to be more Purpose-driven. You aren’t sure what that means just yet. But, you don’t want to lose track of it. Have you connected the dots by making it a strategic goal to develop a plan to integrate Purpose in to your business in 2017?
Example 3 - Measurement, KPIs and Dashboards
You know that you get, a) what you measure and b) what’s top of mind. Measurements fuel dashboards, which fuel KPIs, which fuel achievement of strategic objectives. So, have you connected the dots and determined:
Great example of Purpose shifting messaging at TD Ameritrade. Effective? Absolutely. Look up Patagonia's results with their "don't buy me," campaign. A 40% increase in sales.
One of the greatest examples of Purpose-driven decision making of our time. Thank you CVS!
Stunning numbers in this article. 89 percent of companies that prioritize doing good outperform the market in medium and long-term share prices and earnings. Deutsche Bank. And, Employees who believe their company is fulfilling a noble purpose are also between 13 percent and 30 percent more productive, according to the Census Bureau's Center for Economic Studies and the Ifo Institute.
How to Build a Thriving Workplace Brand
“companies with shared values with their employees tend to grow revenues four times faster than those that don’t (John Kotter and James Heskett, Corporate Culture and Performance).”
Ground breaking study from Price Waterhouse Coopers points out opportunities for improvement and alignment
Survey of 1500+ employees and 500+ executives across 39 industries
79% of Executives feel Purpose is central to the success of their business.
34% make decisions based with Purpose as a Guidepost.
82% of employees believe the value of Purpose is in finding meaning in their day to day work.
72% of Executives feel Purpose is valuable in managing Corporate reputation and driving innovation.
Millenials are 5.3x and non-millenials are 2.3x more likely to stay when they have a strong connection to their employers Purpose. But, only 27% of Executives help employees connect their own Purpose to the Purpose of the organization.
The Business Case for Purpose. Harvard Business Review, Ernst and Young Sponsored study on the value of being Purpose-driven. Purpose Prioritizers outperform on 7 of 8 categories.
Putting Purpose to Work. Price Waterhouse Coopers study. Points out disconnects offering opportunities for performance improvement.
Korn Ferry Executive Survey: Where there is Purpose, there if Profit. More than 2/3rds of Executives agree Purpose drives long-term financial return.
Purpose Means Nothing if You Don't Deliver
Why Your Company Must be Purpose Driven. “...skilled leaders have much to learn about creating value by aligning purpose.”
Building a Purpose-driven workforce is a process not a project..
The voice and stories from this blog originate from the collective wisdom and experiences not just of our team, but with those we were fortunate to learn from.