WEBVTT 1 00:00:00.730 --> 00:00:03.140 The last 10 years have shown a change 2 00:00:03.140 --> 00:00:04.263 in expectation. 3 00:00:05.210 --> 00:00:08.340 Businesses are much more expected to tackle 4 00:00:08.340 --> 00:00:12.050 and to solve big societal challenges than ever before. 5 00:00:12.050 --> 00:00:15.450 I think purpose plays an enormous role in helping businesses 6 00:00:15.450 --> 00:00:18.540 understand how they need to attack societal challenges 7 00:00:18.540 --> 00:00:21.693 and also motivate the employees within, to do it with them. 8 00:00:29.240 --> 00:00:31.440 line:15% In the next decade, the importance that purpose 9 00:00:31.440 --> 00:00:34.080 line:15% will take in companies will really come twofold. 10 00:00:34.080 --> 00:00:36.480 The first one is around the concept of resilience. 11 00:00:36.480 --> 00:00:39.150 line:15% Purpose offers an emotional anchor for employees 12 00:00:39.150 --> 00:00:40.750 during times of massive change. 13 00:00:40.750 --> 00:00:42.910 People are constantly grappling to understand 14 00:00:42.910 --> 00:00:45.010 their belongingness, it's part of our human nature 15 00:00:45.010 --> 00:00:47.480 and so if we have a core understanding 16 00:00:47.480 --> 00:00:50.400 and a locus of control that lets us think about 17 00:00:50.400 --> 00:00:52.410 the things we could change but still feel 18 00:00:52.410 --> 00:00:54.150 in control of our situation, 19 00:00:54.150 --> 00:00:55.990 that lends itself to resilience, 20 00:00:55.990 --> 00:00:57.460 it lends itself to strength, 21 00:00:57.460 --> 00:01:00.200 it lends itself to change that's beyond just incremental. 22 00:01:00.200 --> 00:01:03.830 Secondly, in the next decade, purpose will be important 23 00:01:03.830 --> 00:01:05.890 in attracting and retaining talent. 24 00:01:05.890 --> 00:01:07.980 Generation Z is much more interested 25 00:01:07.980 --> 00:01:10.740 in the value proposition and the authenticities 26 00:01:10.740 --> 00:01:13.670 between companies and employees than ever before 27 00:01:13.670 --> 00:01:15.460 and so in order to get the right people, 28 00:01:15.460 --> 00:01:17.760 in order to get the best talent in your organization, 29 00:01:17.760 --> 00:01:20.030 you must understand who you are, 30 00:01:20.030 --> 00:01:22.430 you must represent that to the people that you employ 31 00:01:22.430 --> 00:01:24.100 and then you must take it to the market 32 00:01:24.100 --> 00:01:26.210 and implement it in ways that are meaningful. 33 00:01:26.210 --> 00:01:28.710 We do have figures to show that purpose is working 34 00:01:28.710 --> 00:01:31.120 across various metrics and to be honest, 35 00:01:31.120 --> 00:01:33.640 a lot of people expect me to say it is around 36 00:01:33.640 --> 00:01:35.880 employee attrition or employee retention 37 00:01:35.880 --> 00:01:37.810 and that is true but there's also data 38 00:01:37.810 --> 00:01:39.830 that we would consider hard data 39 00:01:39.830 --> 00:01:42.140 around total shareholder return being raised 40 00:01:42.140 --> 00:01:44.360 by a significant amount over ten years. 41 00:01:44.360 --> 00:01:47.047 There is data around employees if they are 42 00:01:47.047 --> 00:01:49.510 inspired employees versus satisfied employees 43 00:01:49.510 --> 00:01:52.900 will be 225% more productive in their jobs. 44 00:01:52.900 --> 00:01:55.100 That's where innovation comes from. 45 00:01:55.100 --> 00:01:56.640 That's where true engagement comes from. 46 00:01:56.640 --> 00:01:58.200 Often times, that's where joy comes from 47 00:01:58.200 --> 00:01:59.910 in an organization and that, of course, 48 00:01:59.910 --> 00:02:02.940 lends itself to value in ways that sometimes we can measure 49 00:02:02.940 --> 00:02:04.603 but sometimes are immeasurable.