Aaron Hurst lists the top ten findings that make the business case for investing in purpose in your organization.
1) Purpose Is the Top Motivator
McKinsey reported that in a study of 100 variables, purpose was found to have the greatest impact on motivation, accounting for 50% of all movement in motivation scoring.
3) Purpose Empowers Women
Women are 50% more likely to be purpose-oriented according to Imperative’s Workforce Purpose Index. Not embracing purpose in your culture makes it harder for women to succeed.
4) Purpose Sparks Innovation
According to a 2016 report from EY, purpose is an antidote to “short-termism” and opens up their creative horizons. It helps people connect to the big picture and more beyond incremental and conservative thinking.
5) Purpose Builds Relationships
Employees who embrace purpose are 51% more likely to report strong relationships at work and also report better relationships with their managers, according to Imperative’s Workforce Purpose Index.
6) Purpose Increases Well-being
Employee well-being is clearly better for employees and their families but it is also key to their productivity and organizational health. The Imperative 2015 Workforce Purpose Index found that employees oriented to purpose are 54% more likely to report high levels of well-being than their peers.
7) Purpose is Key to Team Effectiveness
Google found that two of the five most critical attributes in their high-performing teams are meaning and impact. Teams that work with purpose are more effective.
8) Purpose Retains Talent
Employees working in alignment with purpose expect to stay in their jobs longer. In an Imperative study of LinkedIn employees, we found that purpose-oriented members of their team are 54% more likely to report that they plan to stay at the company for five or more years.
9) Purpose Creates Leaders
People promoted into leadership roles are twice as likely to be those who embrace purpose. This is in large part connected to Imperative’s research that people who work with purpose are more likely to have the competencies associated with leadership potential.
10) Purpose Boosts Impact
The Imperative Workforce Purpose Index found that purpose oriented people are 64% more likely to report that their work makes a meaningful impact. At the end of the day, isn’t that why we all work?
Aaron Hurst is an Ashoka Fellow, award-winning entrepreneur and globally recognized leader in fields of purpose at work and social innovation. He is the CEO of Imperative and founder of the Taproot Foundation which he led for a dozen years. Aaron is the author of the Purpose Economy and has written for or been featured in The New York Times, The Wall Street Journal, Bloomberg TV and Fast Company.