“Most of your employees probably don’t know why your company exists — and that may be causing major problems for your business.”
— Gallup Research
Many industry experts agree that we are moving from a not-for-profit and for-profit divided world to a not-for-purpose and for-purpose business environment. What this means is that your employees and customers will define you — one way or the other — based on your strategy and story.
Material changes in the makeup of the world’s population are driving this new way of thinking. Gen X, Gen Y and Gen Z segments are changing the game, both in corporate culture and the buying process. As current and future employees want to work for more than just a paycheck. They want to contribute to something significant. They want to know that the work they are doing is actually making a difference in the world.
More and more, customers also want to understand what you stand for and why your company exists. That means the buying criteria for customers and the buy-in criteria for employees has fundamentally changed.
This has business leaders searching for better ways to define and communicate the meaning behind “why they do what they do” and the higher purpose their business has in the broader market.
Today, your strategy and your story must support a higher purpose. Your strategy must be about more than making money, and your story must go beyond selling something and emotionally connect with what your target audience truly values.
In addition to meeting the demands of today’s buyers and employees, a clearly defined and communicated purpose drives better business results. According to McKinsey & Company …
“Achieving real alignment, where strategy, goals, and meaningful purpose reinforce one another, gives an organization a major advantage because it has a clearer sense of what to do at any given time, and it can trust people to move in the right direction.”
Purpose sits on top of your vision, mission and values. It speaks to the highest-level outcome of your corporate strategy. If vision is what you aspire to achieve, purpose describes the positive impact you wish to have on the world. Some companies call it their North Star.
Defining your purpose is crucial and it will play a significant role in your story and strategy. It should also be brought to life consistently in the customer experience.
Don’t hit the easy button. Dig deep. Discover why your company does what it does and ultimately how it positively impacts the lives of others. When you do, your employees, customers, and yes, your bottom line, will benefit.
That’s Your OnMessage Minute.
