4 Ways CEO’s can Truly Drive Purpose in Companies.
A 2015 Harvard study showed that over 80 percent of global CEOs felt that activating purpose in their company would make a big difference for company performance (and profits) but only about one in three felt their company was doing a very good job of doing it.
A 2015 Harvard study showed that over 80 percent of global CEOs felt that activating purpose in their company would make a big difference for company performance (and profits) but only about one in three felt their company was doing a very good job of doing it. This intuition about their own performance is reinforced by surveys showing a 30 percent gap between what companies say and do when it comes to putting customers before profit. When given the binary choice as to whether their own company cares more about profits or the wellbeing of customer and society, almost 70 percent of employees choose profit! Consumers experience this same gap and say they are only confident that about six percent of brands are “good.”
In the new book, The Purpose Revolutio: How Leaders Create Engagement and Competitive Advantage in and Age of Social Good. It explores how leaders can embed purpose in organizations and close this perception gap. It has research and experience working with over 600 companies shows the critical role CEOs play in driving purpose and closing the credibility gap that’s occurring. Today, we will explore four key ways CEOs can truly drive purpose from the top.
CEO should be Chief Purpose Officer
Finally, CEOs must see themselves as the Chief Purpose Officer. Muhtar Kent, former CEO at Coca-Cola and now Chairman of the Board, says. “I have to be the head of sustainability; it can’t be delegated to anyone else.” While all leaders within a company help create a culture of purpose, few voices matter as much as the CEO or business owner. In research, most CEOs have a good sense of purpose and are aware that using purpose is an important way to drive success in their business. However, it's been found that CEOs need to be more cognizant of the perception and impact they have through their messaging and the questions they ask. The sum of all the small interactions carry significant weight and also in the end, purpose begins at the top and it can’t be delegated to anyone else.
Source:Sustainable Brands
Picture credit to:Jesus Kiteque
