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Topic: Purpose

Having an inspiring purpose is not enough

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Most organisations today have a defined purpose. Many may even have an inspiring one.

After all, companies know that purpose drives profits and business success. 91% of consumers would switch brands for a similar but purpose-driven brand. Harvard Business Review found that purpose-driven companies outperform their peers in stock price by 12X. And employees who find a meaningful purpose at work are twice as satisfied with their jobs and 3X more likely to stay with their organisations.

Purpose is not your mission, vision, or values. Mission is what you do. Vision is where you want to be. Values are what behaviors you want employees to live by. But purpose is why. Why do you exist? What value do you bring to the world? What would be missing if your organisation went away? 56% of employees believe if their organisation did not exist, their customers would miss something they couldn’t get anywhere else.

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