By Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media. Originally posted on Hunt Scanlon Media on November 15, 2019.
Purpose doesn’t just add to an employee’s well-being; it adds to a company’s bottom line. That’s the key finding of a survey of top executives just completed by Korn Ferry. The vast majority of respondents (96 percent) said there is a long-term financial benefit to companies that make a strong commitment to purpose-driven leadership, with 77 percent agreeing “to a great extent.”
One of the reasons purpose-driven leadership may add to corporate financial gain, according to the survey, is the impact it has on employees. Eighty-nine percent of respondents said they believe understanding and embracing the mission/purpose of their organization increases employee productivity.
“Without embracing the purpose of an organization – the motivating force of why it is so important that we exist – employees will become disenchanted,” said Kevin Cashman, Korn Ferry global leader, CEO and executive development. “Many will leave, or worse yet, stay and not be engaged nor offer discretionary effort for their organization.”