{"id":1315,"date":"2022-07-21T19:47:00","date_gmt":"2023-06-06T19:47:32","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=1315"},"modified":"2023-07-11T04:37:44","modified_gmt":"2023-07-11T04:37:44","slug":"identify-corporate-purpose","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/ap\/blog\/identify-corporate-purpose\/","title":{"rendered":"Trying To Identify a Corporate Purpose? You Don\u2019t Have To Save the World"},"content":{"rendered":"\n

It\u2019s easy to declare yourself a purpose-driven organisation. It\u2019s much harder, however, to identify just the right purpose to elevate your business strategy and operations. <\/p>\n\n\n\n

Many companies are driven by stakeholders\u2019 demands to stand for more than just profits. The belief that building a compassionate corporate culture<\/a> helps to attract people, from partners and customers to employees, often drives organisations to align their business strategy closely to their company\u2019s values. It is the primary way that companies build trust with their employees and customers.<\/p>\n\n\n\n

So how do you identify and activate a purpose? Or decide on just one? Sustainability, diversity, equity, poverty, and upward mobility are all noble causes, but no company can effectively address them all.\u00a0<\/p>\n\n\n\n

Defining your purpose <\/span> <\/h2>\n\n\n\n

To identify a purpose, leaders need to consider what their stakeholders (both internal and external) are passionate about, what is needed in the community and the world, and what the company is uniquely positioned to deliver.<\/p>\n\n\n\n

Leaders need to look at what they\u2019re already doing (a new product, service, partnership) and ask themselves how to use it as an opportunity to elevate and align it with a societal issue their stakeholders care about. They can then begin to articulate and fulfill their purpose in a more fruitful way.  <\/p>\n\n\n\n

Consider these examples, which are clear, precise, target real societal issues, and apply what each organisation does well to address them: Genius Group\u2019s purpose<\/a> is to build a successful community of purpose driven entrepreneurs, while The Singapore Federation of Chinese Clan Associations (SFCCA) aims to preserve cultural traditions<\/a> and connect new generations with their ancestral heritage. When trying to identify a corporate purpose, ask yourself these questions: How do we make a difference to our customers and our market? How do we do it differently? What do our employees love about their job? <\/p>\n\n\n\n

Answering these questions helps organisations take a broader view while ensuring their purpose is not reduced to a marketing slogan or so exaggerated that it does not address precise needs.<\/p>\n\n\n\n

Activating and elevating your purpose <\/span> <\/h2>\n\n\n\n

Once you have articulated the unique \u201cwhat\u201d and \u201cwhy\u201d you do what you do, the next step (and indeed the bigger challenge) is activating it throughout the organisation. Mobilising every employee to march to the same beat and incorporating the purpose into their daily jobs are essential for a successful activation.<\/p>\n\n\n\n

Business leaders need to be knowledgeable of business practices that undermine the credibility and integrity of their purpose. When stakeholders see a gap between what you say and what you do, you lose trust. But if you make a bold strategy move to align with your purpose, even if it requires a short-term cost, it\u2019s an enormous boost to building trust and confidence in your organisation. <\/p>\n\n\n\n

The company\u2019s stated purpose can feel disconnected from its operations and strategy when values are not properly aligned with business strategy. Thus, the purpose becomes nothing more than empty words, and trust is either never gained, or worse \u2014 lost. <\/p>\n\n\n\n

The goal is to drive employee behaviour, not parrot the company tagline, by communicating how each person\u2019s job helps the company achieve its purpose. <\/p>\n\n\n\n

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Stay true to your purpose for trust with employees <\/span> <\/h2>\n\n\n\n

The pandemic has accelerated many organisation\u2019s purpose-driven initiatives. In recent months, the Great Resignation<\/a> has driven business leaders to motivate their workforce with clarity of purpose. When you consider the importance consumers and employees place on trust and living your purpose, it\u2019s easy to see why. <\/p>\n\n\n\n

According to a global \u201cStrength of Purpose<\/a>\u201d study by Zeno Group, consumers are four times more likely to trust and purchase from a brand with a strongly-articulated purpose. Moreover, they are 4.5 times more likely to champion the brand, and six times more likely to defend the brand in a challenging moment. In the State of the Connected Customer<\/a> report, customers expect businesses to act responsibly. Eighty-five percent of customers say their purchase decisions are swayed by how companies treat employees and sixty-eight percent of customers around the world trust companies to act with society\u2019s best interest in mind. <\/p>\n\n\n\n

At the same time, employees, emboldened and empowered by the tight labour market, prefer to work for purpose-driven organisations<\/a>.<\/p>\n\n\n\n

Business leaders should ask themselves if their structure, systems, and resourcing equips employees to bring the organisational purpose to life. Specifically: <\/p>\n\n\n\n