In the dynamic landscape of business, striking a balance between profit and purpose has become the focal point for progressive companies. The global C-suite conversations reveal a growing emphasis on aligning values, adopting purpose-driven initiatives, and embedding them seamlessly into business strategies.
Engaging with the global C-suite provides unique insights into the priorities of forward-thinking enterprises. Amid the discussions, a prevailing concern takes center stage: the delicate balance between profitability and purpose.
Accenture’s recent survey underscores this sentiment, revealing that 64% of global consumers are drawn to brands that actively communicate their purpose. Moreover, 62% express a desire for companies to take a stand on issues aligning with their passions, and 52% are more inclined to purchase from brands sharing congruent values.
Another recurrent theme in these executive conversations revolves around the pace of change. The propensity to hastily adopt policies, rather than incorporating them seamlessly into a comprehensive framework aligning purpose and profit, emerges as a disruptor to sustained profitability.
Most of our clients are committed to a more purposeful future for their brands, organisations and employees. This is where we come in. We design workplaces for global businesses, tuned to regional cultures and hyper-localised through partnerships with local artists whose work resonates with the employees from that region.
This makes a real difference in attracting – and retaining – the best talent. According to a 2019 survey, 83% of Gen Z US consider a company’s purpose when deciding where to work. And a workplace designed to encourage a positive culture is critical.
'We can help weave a brand purpose tapestry that people truly believe in, want to be part of and champion, by ensuring it is embedded within your brand language and part of your everyday conversations with everyone, from investors to partners, suppliers and employees.'
The impact of purpose on profit and valuation cannot be overstated. Kantar’s study reveals that purpose-led brands experienced a staggering 175% valuation surge over the past 12 years, in stark contrast to a mere 70% growth rate for brands lacking a clear sense of purpose.
Therefore, our counsel is clear: consider everything, omit nothing, and above all, do what is right. This aligns with both the global need for purposeful initiatives and the desires of your customers.