Today, people have higher expectations of the organizations they work for, purchase from or invest in. Employees, consumers, shareholders, suppliers, governments and communities demand responsible organizations that are grounded in purpose and committed to delivering long-term value.
In this world of heightened corporate social responsibility and the renewed shift toward stakeholder capitalism, the promises companies make must be kept. And the only way to keep brand promises is with a purpose-driven culture.
Unfortunately, less than half of customers strongly believe their vendors deliver on their promises, according to Gallup data. Customers that don't trust their vendor to follow through spend 13% less -- leaving those vendors with a missed opportunity to add real value to their partners.
When it comes to employees, only 27% strongly agree their organizations always deliver on their promises to customers. These employees not only lack fulfillment and engagement -- their unmet expectations inevitably lead to inconsistent customer experiences that leave brand promises unmet and customers disengaged.
In turn, global stakeholders lose trust in the organization's credibility and feel less committed to investing in the brand.
The solution lies in organizational culture. Culture bridges the gap between what an organization says and what it does.
Authentic cultures turn brand promises into action because employees are united behind a deeply held, genuine purpose.
Culture bridges the gap between what an organization says and what it does.
Gallup has decades of experience measuring people's perceptions, beliefs, emotions, needs and overall wellbeing. We use this human expertise to help organizations align their purpose and their culture. In turn, their employees believe in what their company stands for, which fuels them to turn brands into action and deliver experiences that customers, investors, and society can depend on, be proud of, and trust.
Global stakeholders will only believe in a company when its employees are true believers who behave "on brand" at every turn. To rise to this challenge, leaders need to build a purpose-driven culture -- and specifically, one that is energized by a compelling purpose for good.
When your purpose is well-understood and inspiring, your employees will live your brand because they'll be able to answer "yes" to the following questions:
To read the full Gallup article, click the link below:
Authored by Jake Herway. Bailey Nelson also contributed to this article.
If the tumult of 2020 has prompted your organization or leadership team to reconsider people priorities such as employee well-being, resilience, or purpose, then you’re in good company.
Your employees are reconsidering you, too.
Nearly two-thirds of US-based employees we surveyed said that COVID-19 has caused them to reflect on their purpose in life. And nearly half said that they are reconsidering the kind of work they do because of the pandemic. Millennials were three times more likely than others to say that they were reevaluating work.