Numbers are crucial in any business.
From setting performance indicators to monitoring your finances, you know how much they matter.
So when unearthing and understanding something based on feelings, it’s difficult to justify pursuing it any further.
Why is something like a purpose important to my business if I can’t measure it?
Well you can, it just depends on what you’re measuring.
As purpose continues to grow in importance to businesses around the world, more and more studies are emerging and show very clearly the benefits of a purpose to all metrics.
In May 2020, Forbes contributor, Afdhel Aziz published “The Power Of Purpose: The Business Case For Purpose (All The Data You Were Looking For)”. He compiled and shared an extensive resource library on why purpose matters, which included research data such as:
- Consumers: 78% of consumers would tell others to buy from a Purpose-driven company
- Innovation: Purpose-driven companies report 30% higher levels of innovation
- People: Purpose-driven companies had 40% higher levels of workforce retention than their competitors
Whatever you measure, purpose has an impact on both your bottom line and the fulfilment of those within your business.
Have a great day!
Ivan Spyrdz
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By the way, I’ve released an e-book called “MAKING PURPOSE YOUR BUSINESS – How to attract, build and keep high performing business teams (even when they’re remote)”. This e-book provides information and insights on why purpose is important to your business and the 6 Key Pillars of Commitment you need to commit to today to drive your performance and success. I invite you to grab a copy by downloading it free here.
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