Every night, once the kids have been dunked in the bath and the pyjamas are on, it’s story time in the Oakley household. It’s a scene familiar to families world-wide and a time I try and cherish, even if sometimes my mind tries to wander to my evening to do list, the dinner I need to cook or the work I need to catch up on.
But cherish it I do; having been able to escape into worlds of secret gardens, runaway adventures and spell-binding wizards and witches when I was little, I know how big a part it played in my childhood, shaping who I am today, and I can see the positive impact it’s already having on my children too.
More than escapism, the art of storytelling has also shaped my career as a communications professional; enabling me to perfect the art of storytelling for organisations who want to engage their audiences to deliver success.
And whilst the lives of the likes of James and the Giant Peach, Harry Potter and Stickman may seem worlds apart, what they all have at the core of their story is the same; a clear sense of purpose.
From bringing a group of unlikely team-mates together to survive a perilous journey, defeating evil dementors so that good triumphs over evil, to beating the odds for the sake of their family; the thread that runs through all of these stories is their purpose.
Yet having a clear sense of purpose isn’t just for imaginary worlds. Whilst the idea of corporate purpose is not a new one, it’s certainly one that’s become increasingly central to an organisation’s strategy.
A study conducted by EY and Oxford University Saïd Business School found public conversation about purpose increased fivefold between 1995 and 2014. EY also point to research by author Raj Sisodia, which found that companies that operate with a clear and driving sense of purpose - beyond the goal of just making money - outperformed the S&P 500 by a factor of 14 between 1998 and 2013.1
So whilst may organisations grapple with articulating their true purpose and jump instead to talk about activities and initiatives, it’s important to remember the upside of cracking this difficult nut; purpose-driven companies are more financially successfully, employ more engaged people, have more loyal customers and are better at innovating and delivering transformational change.
And in a post-Covid world, this has never been more true.
As part of its work to better understand the role of purpose in organisations, McKinsey recently surveyed more than a thousand US employees about individual purpose and the work and life outcomes associated with it. The survey showed that almost two-thirds of those surveyed said that COVID-19 had caused them to reflect on their purpose in life with nearly half saying they’d reconsider the kind of work they do because of the pandemic. Millennials were also three times more likely than others to say that they were re-evaluating work.
Importantly, 70 percent of employees surveyed said that their sense of purpose is largely defined by work with the survey clearly demonstrating that employees who get the purpose they want from work report better outcomes at work – and in life – than their less satisfied colleagues.2
““Employees expect their jobs to bring a significant sense of purpose to their lives. Employers need to help meet this need, or be prepared to lose talent to companies that will.””
So if it’s clear that organisations need to have a clear purpose - how do you define that beyond financial success?
A client of mine recently put it very succinctly; as a person your purpose is what get’s you out of bed every day and for an employee, it’s what gets you out of bed every day and makes you want to go to work…and do a great job.
What is it that really drives you forward as an organisation? What is your reason for being? What positive impact do you want to make and what do you want your legacy to be?
Whilst purpose is often linked with purposeful action – improving your environmental footprint, supporting your local communities, helping your employees to grow and develop – your true purpose is bigger and bolder; it is, ultimately what makes you and your teams want to get out of bed and come to work.
And by getting to the real essence of your purpose and building a narrative that articulates it, we can tell the story of your organisation with impact, imagination and clarity. Engaging you people and your consumers and delivering growth in the right way so that you, like James, Harry and Stickman, are a true force for good.
If you’d like help defining your purpose and the narrative that brings it to life, I’d love to have a chat: liz@lizoakleycommunications.co.uk
Sources
1. https://www.ey.com/en_uk/purpose/why-business-must-harness-the-power-of-purpose