HR Managers - The true way to find company purpose

20-01-19
#company purpose #finding company purpose #company purpose ROI #the real way to find company purpose #HR Managers way to company purpose

CEO’s- know purpose drives profit –  but everyone’s forgotten about how personal purpose drives profit

There’s a commercial problem – unhappy people are costing companies productivity and profit:

  • 70% of the workforce of the USA are disengaged at work1
  • This costs the average Western economy 3-4% of GDP2
  • Finding your life purpose has more positive health benefits than stopping smoking or drinking2
  • Companies with a clear purpose grow 263% higher than an average company in the US S&P3

Finding your life purpose has unbelievable health benefits, which increase productivity:

  • A one-point increase in clarity of life reduces the risk of dying by 12% and a hospital visit by 27%, stroke 22% and risk of going to hospital by 17%
  • Happy people have direction – happy people have values employees care about and that are worth working for = they are better leaders4
  • Happy people have 2.5 times less sick days5

The scale of the problem – People struggle finding their life purpose:

  • Outside of family 50% of people have little or no idea what their life purpose is6
  • Only 10% of people know their life purpose6
  • The problem is 2 x worse for women than men and 3 x worse for people on low incomes6

The problem is made worse because, until now, there’s no scientific way to find your life purpose:

  • We hold 7 pieces of information in our conscious mind, 20 in our emotional mind and 20,000-2million in our unconscious mind7
  • The answers to our life purpose are often held in our unconscious mind but 99% of purpose approaches don’t map them7

Applying this concept to companies – people think it’s easy to talk about and really-hard-to-do:

  • 275 of the top US CEO’s believe a powerful purpose has the ability to strengthen a company’s prospects and culture8
  • Bob Moritz, global Chairman of Pwc said: “It’s not enough to simply say you are committed to pursuing a specific purpose,” he added. “Your company’s structure, measurements, and incentives must also align with that purpose as well for it to truly resonate with your people, your customers, and other stakeholders."
  • Here are the details:
  • 63% of CEO’s think it guides revenue growth
  • 83% think it is a valuable guide to making day to day decisions
  • And 96% think purpose helps installing values
  • But there’s the problem:
  • 50% of CEO’s feel short term goals impact on purpose8
  • 67% of CEO’s do not know how to apply their purpose to decisions8
  • And only 21% think that purpose guides people in an emergency8
  • Yet:
  • 70% of company employees think purpose boosts productivity to a great extent9

The reality – how do we get company purpose to connect with people individually?

  • So most senior execs think it’s a good idea, but this good idea is failing:
  • 4/10 people connect to their company mission9
  • And less than 50% feel connected to their company purpose9

The real issue is that companies are looking for people to connect with company purpose when people don’t know their own:

  • Our research has shown that in the UK less than 30% of people are clear about their own purpose outside of family
  • This issue is worse amongst women and low- income families
  • If people don’t know their own purpose, how can they connect with yours?
  • The answer is they can’t and that’s the root of the problem, if people don’t know their own purpose, they can’t connect with yours

A more rigorous scientific approach to personal purpose is required:

  • You’ve got to help your employees figure out their own life purpose, if they can’t they don’t know if they can connect to your corporate purpose
  • Our approach – using the unconscious in a scientific way will allow you and your staff to decide if they are right for the company or not
  • It will precipitate those who are a true fit with your culture versus a marginal fit
  • Finding the employees who truly fit will boost productivity, engagement culture and profits
  • The risk? You have to let people who aren’t connected go – short term loss, long term gain.

The solution, trueiam.com’s approach:

  • Jake Pearce has pioneered an approach which maps the unconscious, the approach scored 98% with New York CEO’s who were members of Vistage (the largest personal development organisation for CEO’s in the world)
  • “My name is Mark Taylor, I am Master Vistage Chair and best Practice Chair. Jake came to New York with a system in 2010 to give people clarity on their personal brand and purpose. He got 98% satisfaction on the feedback. We both felt it was years ahead of its time even in New York. But I’m delighted to see the world has caught up and trueiam.com is using the science of semiotics to deliver both personal and purpose branding.”

What you get:

  • Jake creates your own unique life purpose word, you can think of it as a ‘fingerprint’ for your life purpose, it’s as unique to you as your name, except that the word defines your life purpose
  • Jake produces exactly the same thing for your personal brand
  • Between them you get your “north star” both in terms of what you want to achieve in life (purpose) and how you want to get there (personal brand)
  • Clearer personal purpose = better engagement = higher profits

Sources:

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About the author

Jake Pearce

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"Different to get better results". Jake is obsessed with marketing ROI. He helps companies amplify word of mouth to get business more easily. He uses Meanomathics to boost Comms cut through 10-30%. He uses co-creation to future proof innovation - he turned around a drinks category providing 15% growth using professional co-creation. And he helps top CEO and celebrities with their personal branding and brand purpose, which links back to Word of Mouth marketing. 

Worked with Vodafone,Kellogg'sMcDonalds,ANZ,McDonalds,Suntory,Danone,HSBC,Barclays,BAT,Meat Brands,Saatchi&Saatchi,Draft FCB,Fairbrother Industries, Les Mills, Holmes Place, Grey and a host of digital start-ups.

Jake Pearce is a specialist in brand planning, development & innovation. Jake is currently working on a Word of Mouth Marketing start-up, a personal branding start-up and new delivery systems for wellness products. 

www.jakepearce.com - for brand development and innovation

www.womtwo.com - for word of mouth marketing expertise

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