The Purpose-Driven Business: Going Beyond Feel-Good Rhetoric

Shelly Dutton

Breaking through today’s market is tougher than ever. There’s more competition creating noise, more channels to feed, and more disruptions that bring tremendous risk as well as opportunity. And amid these growing pressures, a groundswell of demand for environmental consciousness; ethical, humane labor practices; and better living conditions for generations of people often complicate processes, inflate costs, and subdue productivity.

If your business subscribes to a traditional capitalist mindset, this new reality may seem diametrically opposed to running a profitable operation. But according to EY Beacon Institute research, it doesn’t have to be this way. In fact, a workforce culture focused on a common purpose drives employee engagement and effects change, both of which ultimately improve customer satisfaction.

Unlocking the power of purpose-led brand communities to build business growth

Running a purpose-driven business, as the EY Beacon Institute survey shows, is more than just a millennial-focused marketing strategy, recruiting gimmick, or short-term social phenomenon. It’s about guiding the company with a higher vision that is more significant and impactful than the products and services being sold.

However, defining a business purpose is easier said than done. It’s relatively simple to make up talking points that communicate feel-good rhetoric. But living out that message in your processes, employee interactions, decisions, and customer experiences is a different story, especially if you want to appear genuine and demonstrate competitive market leadership.

Let’s face it – it’s never been more critical to build a brand that people want and give customers a reason to feel good about their purchase and use of your goods and services. How will your business embrace this movement to deliver a brand that is meaningful and relevant to your employees and customers? Check out the infographic below to find out how you can get started.

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