Creating a purpose-driven organization is no easy task.
Sure, you may have left a mission statement on your job listing. But seriously, when was the last time you applied for a job because of their mission statement?
And yet, shared goals are key to employee engagement. So how do you get everybody on the same page without bumping heads? Well, you’re about to find out. Keep reading to learn more about the tools and methods you need to create a goal-driven organization.
What is a goal-oriented organization?
Many CEOs and affiliated business leaders fail to realize the importance of having a higher organizational purpose for their businesses.
However, companies with a mission statement saw their attrition rates drop by 49% compared to companies without. It is clear that an effective business strategy is not simply about selling products.
In fact, 79% of business leaders believe purpose is crucial to their organization’s success.
That’s why goal-oriented organizations use strategy and decision-making skills to make a difference. Sometimes this difference is internal to the organization and affects only those within the company.
For example, you can optimize technology management in your department by improving workplace technology and reducing complaints from frustrated employees in the process. That said, some organizations are expanding their focus into social entrepreneurship avenues and looking to do something more ambitious like tackling climate change.
Either way, goal-oriented organizations appeal to the modern consumer who is interested in the organizational practices of the companies they support.
Likewise, goal-oriented organizations typically have happier and healthier employees, as well as lower turnover rates.
What is the corporate object?
Corporate purpose is an organizational goal in addition to profit maximization. Mission statements tend to describe only “what” a company does and avoid explaining “why”.
However, employees stick around only as often as they can find meaning in their work.
So it’s no surprise that only 32% of US employees were employed in 2015.
While the economy thrives on good ideas being sold, there’s more to it than economic exchange.
This is especially true in recent years. For example, millennials are expected to make up 75% of the US workforce by 2025.
And their sense of purpose is, so to speak, much greater than in previous generations.
You can bet the next generation is also driven to put their energy into the things that matter and often that goes beyond mere financial transactions.
Gone are the days when people came to work without passion or purpose for what they were doing.
Young workers today are increasingly concerned with social issues such as income inequality and environmental sustainability.
The younger and older generations do not always see eye to eye. But the foundation of a committed workforce is an organization with a set of common beliefs or goals.
Not to mention, consumers are stakeholders too. Their interest in your product depends on the reputation and value of your company.
Unilever is a prime example of a purpose-driven organization whose corporate purpose became the main catalyst of its success. The company’s top 40 sustainability-focused brands are growing 50x the company’s other brands, while driving 60% of the company’s growth.
Suffice it to say, building a goal-driven and entrepreneurial organization should be on your list.
Benefits of having a corporate purpose.
Below is a breakdown of how achieving your business goals can benefit your business and contribute to its future success.
Increase customer loyalty
Customer satisfaction and loyalty increases when companies have goals other than profit maximization.
The relationship your business has with customers doesn’t exist in a vacuum. The same thing happens in real life when your relationships with others are influenced by outside influences.
Let’s say you go to dinner with a friend, only to find out that he is behaving rudely.
