Most businesses endeavour to have an impact on the world and we make a case for business leaders to support and develop their employees according to the big shared purpose vision of their company.
In recent years many organisations adopt a shared purpose HR approach and there are a number of important trends now evident in this field.
Shared purpose governance and business development increase the effectiveness of HR function.
Organisations are collections of talented individuals, sharing a common purpose, a set of values, a decision-making approach and a will to succeed.
Since a business is a group of people coming together to fulfill a common purpose, without shared purpose that vision can never be realised.
Team members are provided direction to deliver results that meet or exceed the company’s goals, but also to foster their personal and professional career growth.
The link between a person’s shared purpose mindset, the ownership over a task and their commitment to the organisation’s shared vision, goes beyond team dynamics to being transformational
Success will depend more and more on the value of intangible human capital.
This capital may be the creativity of Intel’s designers, the proficiency of Sun Microsystems software architects, the efficiency of Procter & Gamble’s marketers, or Southwest Airlines’ culture.
HR professionals of the future who understand the human side of business as it relates empowering organisations are going to be well rewarded.
Investing in a shared purpose culture means creating an environment where people share a common set of values and beliefs that help them operate as a cohesive team, keep bureaucracy and politics to a minimum and employees feel supported and where their personal and professional needs are met.
Shared purpose extends your passion to make it through challenging times, by leading and inspiring others.
A shared purpose narrative that reflects the deep need to feel that somebody cares about me, and somebody appreciates me, supports your “what” and “how” evolving over time as a response to market and legislative changes.
But without collaborative engagement and commitment to your shared purpose, your “Why”, the drive and passion that propels you and your business forward, what you do is just work.
Companies that invest in creating such cultures and environments that support and encourage shared purpose practices that unlock human potential, enjoy a competitive advantage in attracting the best talent and retaining top performers, by being regarded as one of the best places to work.
As we shift from a world where value was created by scalable efficiency to one where value is created by shared knowledge, organisations will need a shared purpose mindset that supports people in their learning and evolution journey.
Such an approach can help build momentum and provide motivation for overcoming short-term setbacks as you learn to work in new ways and developing the skills the organisation will need in the future.
Talented people seek personal and career growth and will favour organisations that provide opportunities backed by shared purpose experiences and practices that align actions to that purpose.
Shared purpose – regardless of size, industry, or product/service – is particularly important to managerial candidates and millennials.
Over time, shared purpose fuses into one’s purpose and fuels the passion and love for one’s job
Shared purpose is a purpose that is achieved with employees. Engagement with employees.
People to participate in, belong to, engage with, co-create.
People want to be acknowledged that they matter. Also, people want to know their contributions are noticed. Building a company with a shared sense of purpose allows everyone to be a part of a winning journey.
Employees want to contribute. People in your company should understand they have a voice, and their input is not only being heard but also respected. rewarding and recognizing employees for their contribution
Each person must feel connected with the cause and see how they contribute to it. The workplace is a social setting where words shared that make employees feel their work is worthwhile can have a great durable impact.
Research suggests that nurturing a positive workplace enables broader cognitive reach that improve efficiency and enhances problem-solving through more cooperative approaches, and overall and increases trust. Showing that you care and saying thank you for a job well done can make a difference.
A sense of purpose leads employees to feel motivated and committed to the organisation. CIPD research shows that employees in organisations with a strong sense of shared purpose find their work to be absorbing and meaningful and they are willing to expend discretionary effort. They are also more satisfied with their pay and want to stay with the organisation. This initial review therefore suggests that developing a shared sense of purpose drives employee engagement, a relationship that requires further examination due to its potential value to organisations.
In the book Corporate Culture And Performance, John Kotter and James Heskett show that over a decade-long period, purposeful, value-driven companies outperform their competitors in stock price by a factor of 12, and has also been confirmed by the connection between employee trust and financial-performance.
Investing in creating environments that support and encourage shared purpose experiences and practices will always pay off.
And the ripple effect is almost endless… sustainable, high-performance culture that brings out the best of your employees and outperform your competitors.