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 compiled and shared an extensive resource library on why purpose matters, which included:
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.