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The Business Case for PurposeND
EY, Harvard Business School, 2015
The EY Beacon Institute funded a global survey of 474 executives to determine company’s willingness to embed ‘sense of purpose’ in the way they make decisions or determine motivations. The survey defined organisational purpose as “an aspirational reason for being which inspires and provides a call to action for an organization and its partners and stakeholders and provides benefit to local and global society”. Eighty nine per cent of executives surveyed said a strong sense of collective purpose drives employee satisfaction, eighty four per cent said it can affect an organisations ability to transform, and eighty per cent said it can help increase customer loyalty.
The report determined that the companies surveyed fell into three categories prioritisers, companies that already have a clearly articulated and understood purpose (39 per cent); developers, companies that do not yet have a clearly articulated purpose but are working to develop one (48 per cent); and laggards, companies that have not yet begun to develop or even think about purpose (13 per cent).
For more information see: http://www.ey.com/Publication/vwLUAssets/ey-the-business-case-for-purpose/$FILE/ey-the-business-case-for-purpose.pdf