Why Defining and Communicating Your Purpose is Key to Building a High-Performing Team
As a leader, you probably realize how crucial performance measurements and KPIs are to achieving corporate success. However, research reveals that intention is another important element that is frequently disregarded.
It has been demonstrated that having a common purpose boosts employee engagement, encourages teamwork and collaboration, and ultimately leads to successful company outcomes. People are more inclined to go above and above in their responsibilities and contribute to the success of the business when they are aware of the “why” behind their work and feel connected to a broader mission.
According to a Harvard Business Review research, purpose-driven businesses outperform their rivals in terms of stock price, revenue growth, and employment creation. Furthermore, according to a Deloitte poll, 73% of employees who identify their employer as “purpose-driven” are engaged, as opposed to only 23% of those who do not.
How then may leaders use purpose to motivate performance? It begins with establishing an organization’s clear, compelling purpose—one that goes beyond simply turning a profit. Employees, stakeholders, and customers should all be motivated by this goal, which should be continuously articulated over all platforms.
By matching incentives, praising and rewarding conduct that is motivated by a higher purpose, and encouraging a sense of community and belonging, leaders can also seek to build a culture that supports and reinforces this goal.
In the end, purpose-driven leadership involves more than just generating profits. It is about giving workers a sense of purpose and fulfillment, leaving a lasting legacy, and improving society as a whole.