In its 2021 Global Human Capital Trends report, global consultancy Deloitte says that while the pandemic strained and tested the worker-employer relationship, “Thriving in an uncertain future depends on having a compelling vision for where that relationship should go.”
Defining purpose for your business
When articulating your business’s purpose, it may be helpful to think about your company’s mission, vision and values. According to SHRM, a mission statement is a concise explanation of an organization’s reason for existence. Questions to consider when drafting mission statements could include:
- What is our organization’s purpose?
- Why does our organization exist?
A vision statement looks forward and creates a mental image of the ideal state that the organization wishes to achieve. It is inspirational, aspirational and challenging to employees. Questions to consider when drafting vision statements might include:
- What problem are we seeking to solve?
- Where are we headed?
- If we achieved all strategic goals, what would we look like 10 years from now?
A values statement lists the core principles that guide and direct the organization and its culture. In a values-led organization, the values create a moral compass for the organization and its employees.
“Purpose is an Organization’s North Star”
If you’re looking for more inspiration, Deloitte goes on to elaborate on the importance of organizational purpose as a means of grounding employers and employees in a shared set of values that remain constant regardless of circumstances. A sense of purpose and common goals can infuse meaning into work that transcends wages and profits.
The report says that today’s workers and customers want to see new purpose-aligned measures from employers, and purpose is showing up in job descriptions, hiring practices and performance metrics. In addition, organizations are beginning to take stances on issues they previously may have stayed silent about.
These are just a few ideas for brainstorming your company’s mission statement. We invite you to contact MarathonHR for additional guidance on engaging employees with your company purpose.