An organisation’s purpose can be a primary source of power for the business, motivating people, framing the culture, and providing a source of pride, satisfaction, and meaning for the entire organisation.
The only caveat: for these potent benefits to be realised, the purpose must resonate with the team.
How company purpose can change over time
It’s not uncommon at all for an organisation’s purpose to change over time. As a growing business expands the scope and scale of its operations, its purpose will generally evolve, becoming more ambitious. At the same time, communication becomes more complex, as more people join the company. In some cases, purpose-driven elements of the business will require additional investment as the remit changes and grows.
One example is the evolution of the online retailer Bombas, which started with simply donating a pair of socks to the homeless, for every pair sold. Today, Bombas has a network of more than 3500 partners and developed a line of socks and undergarments designed to meet the needs of the people receiving the donated items, which number 50 million and counting.
Why purpose is important to a business
When an organisation is fueled by a strong sense of purpose, wonderful things happen. In addition to good that’s done through the fulfillment of the purpose, the effect on the organisation’s employees is truly profound, impacting everything from retention to productivity and resilience.
“People who live their purpose at work are more productive than people who don’t. They are also healthier, more resilient, and more likely to stay at the company. Moreover, when employees feel that their purpose is aligned with the organization’s purpose, the benefits expand to include stronger employee engagement, heightened loyalty, and a greater willingness to recommend the company to others.” – McKinsey, Help your employees find purpose—or watch them leave.
Check-in on your company’s purpose
Ensuring people continue to feel connected to the purpose as the organisation grows is vital to ensuring it continues to be meaningful, motivating, and fulfilled. Engagement Multiplier has created a new on-demand survey designed to help leaders better understand if the organisation’s purpose statement still connects with employees – and if not, quickly understand where the disconnects are.
There are a variety of reasons why people might become disconnected from the organisation’s purpose. It may start with awareness, though simply ensuring people know about the purpose is the first step, not a singular imperative. It’s equally important to understand whether the purpose statement is well understood, and feel’s relevant to employees – both in terms of their personal value and in relation to their day-to-day role. Additionally, in order to really bring people together, people need to believe the purpose is realistic and achievable.
Our survey, “Purpose Check-Up,” will enable leaders to discern how connected their people are to the organisation’s purpose, where any disconnects exist, and invite employees to share their ideas for strengthening the purpose within the organisation. With that information in hand, leaders will be equipped to restore their organisation’s purpose to full strength.
Current Engagement Multiplier clients can access the Purpose Check-Up survey on their dashboards. For those new to Engagement Multiplier, we’re offering free access to the Purpose Check-Up survey within our 30-day trial – plenty of time to use the survey and download your results. To access this survey and our platform, click here.
(Don’t have a company purpose yet? We can help you take that first step, and define a purpose for your business. Read more about how to develop your company’s purpose statement here.)