The consumer market is flooded with options. Your brand’s purpose differentiates you from competitors and gives you a competitive edge. With a pool of competitors providing what are essentially the same services or products, how can you differentiate yourself?
This might sound like a lot of psychological jargon, but trust us, it matters.
If you were to ask yourself, what is my company’s purpose? Would you have a clear answer?
The statistics on this topic are frightening.
“¼ employees are either indifferent or don’t know much about their company’s mission.” – OfficeVibe.
This is a wake up call for most companies who claim to have implemented company culture in every act.
Integrating purpose into your workplace attributes to a better company culture with employees who are engaged and excited about work.
When you think about profitability and productivity there’s a “p” word you may have overlooked… purpose.
Consider your favorite brands. Why are you loyal to them? Take Airbnb for example, their mission is to “help create a world where you can belong anywhere and where people can live in a place, instead of just traveling to it.” They have lived this mission by implementing purpose-centered programs to donate to nonprofits that help people who have been affected by disasters, conflict, or critical illness. As a host, you can choose to donate a portion of your profits, and as a company, Airbnb has donated over $20 million to help those in need of housing.
Determining the purpose of your business is one of the most important things you can do. Your company’s purpose should inform the decisions you make to move your organization forward. Developing a purpose can be challenging, and acting on that purpose proves even more difficult. How can you turn your company’s purpose into strategy?
Operating a purpose-centered business is important to the success of your company. Your company’s purpose explains to your employees and your customers the reason behind your business and the people it creates value for. Identifying and reflecting your purpose throughout your company is imperative to creating a company culture that is aligned toward one common goal.