Your Company Purpose is an Important Element of Recruiting and Retention

When working with our clients on their strategic planning, we find that folks with an engineering mindset often struggle with shaping the company’s purpose. Yet as this HBR article states, clearly purposeful organizations come out on top in a post-pandemic workplace where talent retention and productivity have become top executive priorities. The authors present five strategies for leaders to put their company’s purpose into practice:

  1. Align on strategy-driven purpose and resist bandwagonism.
  2. Manage expectations of competing stakeholders.
  3. Manage consequences for non-adherence.
  4. Make and communicate tough trade-offs.
  5. Be bold in the aspirations you set.

See the article for more information on each strategy. I like the concluding statement … to attract the best talent and keep the most satisfied customers, serving an authentic purpose is becoming table stakes. When I was recently working with a client that was having difficulty grasping a meaningful purpose statement, I said ‘your purpose statement should inspire new folks to join your company, your existing folks to get up and go to work for you, and your clients to do business with you.’

January 25, 2023