Do your employees know what your company stands for — its mission, why it’s in business, and how it’s different from competing companies? Only 41 percent of U.S. workers say they do. Surprised? Shocked?
That alarming statistic is from Gallup research. While most business leaders can clearly describe their company or organization’s mission, most employees can’t. Another surprising statistic: Only four in 10 U.S. employees strongly believe that the mission of their company makes them feel their position is important.
That’s a real problem. Research shows a clear link between how well employees understand their company’s mission and purpose and embrace it and how well it performs. According to Gallup, just a 10 percent improvement in a workforce’s connection with their company’s mission or purpose would likely result in an 8.1 percent decrease in employee turnover and a 4.4 percent increase in profitability. If your company or organization doesn’t have a formal mission, it needs one. If it has one, everyone should understand what it is and how their work or job ties into and is important to this purpose.
In conducting a meta-analysis of nearly 50,000 business units across just under 200 organizations representing 49 different industries in nearly three dozen countries, Gallup scientists discovered that as employees move beyond the basics of employee engagement and view their contributions to their organizations more broadly, a lot of positive and powerful things start to happen. Employees are more likely to be loyal to their employers, work harder and more creatively and take ownership in what they do, connecting with customers/clients to the benefit of the organization. All that great stuff happens because of a sense of purpose.
A strong employee connection to their company’s purpose starts in one place — with great leadership. Is your leadership team up to the challenge? I can help your company’s leaders develop valuable capabilities that span across organizational, cultural, and geographical boundaries. I can help bridge the gap between your company’s senior leadership and front-line employees, start to move everyone to the same page and mobilize your entire workforce to a common mission. I also help companies improve their internal operations and performance in the value chain by advising and supporting implementations, transformations, and pivots; optimizing operating models; improving company culture and helping to refine other contributing elements to the value chain.
Put me to work helping your organization to thrive. At Rich in Thought consulting, we can help your business become more successful. Schedule a Meeting with me today.