What Is a Purpose-driven Company? (With Advantages)
A purpose-driven company is one that has a shared vision surrounding a relevant social issue and promotes and advances it through various customer, product and employee policies. Working at a purpose-driven organization can allow you to complete impactful work that aligns with a company's ideals. Learning more about purpose-driven companies and their benefits can help you determine if you'd like to pursue a purpose-driven opportunity or integrate some aspects of a purpose-driven identity into your current role.
In this article, we answer the question "what is a purpose-driven company?" describe what these organizations do, offer some benefits of this type of business and provide some steps you can take to promote purpose within your position.
What is a purpose-driven company?
A purpose-driven company is an organization that integrates a social or political message or vision within its work. The company's beliefs regarding the issue can influence policies, goals, daily work procedures and interactions with customers and other stakeholders. For example, a company may pledge to donate a certain percentage of all sales to a cause it cares about. Purpose-driven companies can also integrate beliefs into employee policies such as benefits, volunteer opportunities or continuing education sessions.
What do purpose-driven companies do?
Here are some of the types of strategies a purpose-driven company may adopt to demonstrate its ideals:
Donating a portion of revenue to relevant causes
Offering employees enhanced support like tuition reimbursement or mental health benefits
Focusing on consumer education surrounding important topics
Lobbying politicians for support in relevant legislation issues
Offering a platform for various activists or leaders to share their perspectives
Pledging to minimize corporate or industrial impacts in the future
Integrating ideals into product manufacturing and distribution
Creating customer policies that align with ideals
Providing continuing education on social issues and policy for employees
Advantages of working for a purpose-driven organization
Here are some of the advantages you may experience as part of a purpose-driven business:
The work within a purpose-driven company may be impactful. In some cases, companies can integrate purpose into regular policies, allowing you to make a difference as you complete daily work. For example, if a company pledges to use only recycled materials in its packaging efforts, you can derive satisfaction from the fact that your work can minimize pollution. If a company has a large customer base or reach, you can help spread information or educate customers on ways they can also make an impact.
In some cases, the meaningful nature of purpose-driven work can allow you to feel satisfied in your role. This can be especially true if the organization integrates employee wellness and education into its vision. Learning more about the vision of a company can help you develop strategies for aligning your work with an organization-wide goal. For example, if you manage a department, you can develop strategies to promote the company's vision within your area's production. This can help you contribute to a larger whole, increasing the opportunity for satisfaction.
Within a purpose-driven company, employees can build connections around shared passions and ideals. This can grow based on similar work and shared advancement opportunities. For example, if a company offers training in an area you're passionate about, you can meet like-minded coworkers during class time. A sense of community can improve the culture of a company, allowing you to feel comfortable and supported as you complete your work.
How to integrate purpose within a company
These steps can help you integrate purpose into an organization and its operations:
1. Develop a shared vision
If you're interested in integrating purpose into an organization, you can begin by developing or promoting a shared vision. Consider which causes are relevant to you and your coworkers. In many cases, these can be ideals that match the industry. For example, if you work for an education company, you can develop a shared vision surrounding equal educational opportunity. Some ways to learn more about employees' passions are to distribute surveys or hold company-wide meetings to discuss core vision ideas.
2. Link the vision to daily work
Once you've determined a vision, you can develop policies to link it to daily work. This can help foster a purpose-driven culture throughout all operations. Consider the impacts a company makes and which groups its reaches. From there, you can brainstorm ideas to connect the vision to the company's impact. For example, if a company already sells school supplies, you can come up with ways to distribute important supplies to those in need.
Since it can be challenging to make a large change within a company's operations, you can begin with small changes and additions and then slowly increase purpose-driven policies. You can also invest in training exercises that can promote vision-based work in the future as new employees begin their roles. No matter which role you have in an organization, you can begin considering ways to increase purpose-based work.
3. Develop future goals
In addition to daily work, an organization can integrate vision-driven ideas into goals for the future. As you discuss potential advancement strategies, consider remembering the vision and trying to work towards it. Some ways to ensure that an organization remembers a purpose as it develops future plans are to create posters or other visual reminders of the purpose or integrate it into official documents and resources. You can also develop future plans by speaking to employees across departments and sharing ideas or hopes for the company's future.
4. Share your vision with stakeholders
When a company has successfully created and integrated a vision into its current and future plans, it can then begin sharing it with all other relevant stakeholders. For example, you can develop marketing strategies and materials to share your ideas with customers. You can also integrate the vision onto introductory materials for investors, partners or other external supporters. Spreading this vision can help increase the organization's impact and offer opportunities to inspire anyone who engages with the company.
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