Embracing Purpose in Business: 2 Key Steps to Lead with Impact
Amid today’s multifaceted challenges, be it economic turbulence, supply chain disruption, or the barrage of social media, managing to stay afloat can consume a leader’s day. Yet, the narrative among decision makers transcends mere survival; they want to make an impact.
The quest for purpose isn’t novel, but in today’s digital whirlwind, it morphs into a complex endeavor. The world has been profit-driven for a long time, and now it’s entering a new era. Consumers are demanding to see purpose-driven brands. In an attempt to attract and retain audiences, companies are “competing on social purpose.”
In this arena, many business leaders are on a journey to find purpose. Some have amplified their philanthropic initiatives, while others have committed to sustainability. As of November 2023, nearly 8,000 organizations have enlisted as B Corporations, an emblem of their dedication to fostering social and environmental impact.
However, a multitude of founders are hesitant to hastily define their purpose. They aim to move beyond shallow support for causes or weak gestures toward sustainability. The ambition is to manifest a profound impact aligned with their organizational ethos, but it’s a journey made difficult by external pressures for an immediate resolution.
How can leaders find their purpose?
Amid all the noise, organizational leaders and decision makers need ways to pinpoint their purpose with clarity and confidence. It’s only by identifying a true, genuine purpose that teams can embody that purpose through smaller, daily actions.
1. Incorporate mindful leadership and inclusive hiring.
Purpose should not conflict with profit; instead, they can complement each other. Say an organization’s mission is to create a better world. Even if it’s focused on improving the lives of a specific group within a small domain, the same foundational principles can guide the company in discovering its social and environmental objectives.
Myong Lee, founder and CEO of Clever Care, a healthcare company dedicated to helping underserved populations, believes that financial and social returns are not mutually exclusive. “When you’re building any mission-driven organization like ours, it is paramount to set a culture with principles that are consistent with that mission, and any culture you build is going to be set by the people you hire,” says Lee.
Purpose flows from leadership to employees and from employees to the end user. This is why Lee sees his company as a family business; he advises his employees to “treat our members as you would your own family.” To do so requires a high level of detail, care, and relatability.
For example, Clever Care prioritizes hiring individuals whose cultural backgrounds align with those of the company’s target audience. By employing staff who share experiences with and speak the same languages as the end users, Clever Care aims to create a more inclusive and welcoming environment for customers.