The last 10 years have shown a change
in expectation.
Businesses are much more expected to tackle
and to solve big societal challenges than ever before.
I think purpose plays an enormous role in helping businesses
understand how they need to attack societal challenges
and also motivate the employees within, to do it with them.
In the next decade, the importance that purpose
will take in companies will really come twofold.
The first one is around the concept of resilience.
Purpose offers an emotional anchor for employees
during times of massive change.
People are constantly grappling to understand
their belongingness, it's part of our human nature
and so if we have a core understanding
and a locus of control that lets us think about
the things we could change but still feel
in control of our situation,
that lends itself to resilience,
it lends itself to strength,
it lends itself to change that's beyond just incremental.
Secondly, in the next decade, purpose will be important
in attracting and retaining talent.
Generation Z is much more interested
in the value proposition and the authenticities
between companies and employees than ever before
and so in order to get the right people,
in order to get the best talent in your organization,
you must understand who you are,
you must represent that to the people that you employ
and then you must take it to the market
and implement it in ways that are meaningful.
We do have figures to show that purpose is working
across various metrics and to be honest,
a lot of people expect me to say it is around
employee attrition or employee retention
and that is true but there's also data
that we would consider hard data
around total shareholder return being raised
by a significant amount over ten years.
There is data around employees if they are
inspired employees versus satisfied employees
will be 225% more productive in their jobs.
That's where innovation comes from.
That's where true engagement comes from.
Often times, that's where joy comes from
in an organization and that, of course,
lends itself to value in ways that sometimes we can measure
but sometimes are immeasurable.