In today’s unpredictable world, the spotlight is always on and every move you make is more visible than ever. As a result, the success of your organization highly depends on the values you communicate and live each day.
It is no longer acceptable for companies to simply make money—they also have to make an effort to positively impact society. If you want to survive and thrive in 2021 and beyond, take a positive step forward and move toward purpose-driven business.
Here are a few reasons why your organization should take the time to examine your strategy and rethink how your values speak for your organization:
Pressure Is Building
Over the past 12 months, internal marketing and communications teams have felt pressure from multiple stakeholders to make as much noise as possible. A 2020 Porter Novelli Executive Purpose Study found that 83 percent of executives felt an urgency for business to be a critical part of driving solutions to some of the day’s most pressing issues.
Your company values should reflect who your organization is today and how it is driving meaningful change in the world. If you’re living your values, you don’t need to worry about saying the right thing—you’re doing it, and the people who matter should already know it.
Values Create Culture
In 2020, organizations were faced with one difficult decision after another, and it seemed like every issue was fair game for companies to contribute a perspective. Companies got the chance to prove what they were made of, and stakeholders felt the effects.
A 2020 study conducted by Quartz and Qualtrics showed 52 percent of people felt more purposeful in their work since the beginning of the pandemic. Organizations that have worked toward building company culture have improved engagement and motivation among their employees.
Stakeholders Need Clarity
Announcing your stance on an issue today isn’t enough, it ultimately comes down to the clarity through which your values are communicated. Gallup says only 41 percent of U.S. employees strongly agree they know what their company stands for, and only 27 percent strongly agree they believe in their organization’s value structure.
If your company values don’t reflect who your organization is today, now is the perfect time to revisit and redefine the values that matter most to your internal and external audiences.
These factors, along with many others, have led to changes that were in some cases immediate, and are continuing with no signs of slowing down. If you feel like you’re lagging behind, setting yourself up for success today is crucial to your company’s future.
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