14 Feb The Purpose Gap
What is the Purpose Gap? It is both an opportunity and threat in the business world today. It exists because there a distinct difference between what people desire and hope for, and what is actually being delivered by businesses and organizations. Today a purpose gap exists for both employees and customers.
Seventy seven percent of employees say there is matters a great deal to work for a company they believe in and a job where they have a sense of purpose. Fifty percent of Millennials would take a pay cut to work for the right company, and almost forty percent cite purpose as the main driver of their engagement and retention at work. Yet the vast majority of people, 75%, say that they don’t work for this type of company- that the company they work for mostly cares about profit and its own self-interest. Therein lies the purpose gap for employees.
Customers around the world are asking for more purpose than companies are delivering. Eighty percent of customers globally want to buy from companies that they believe are doing a good job in the world. Yet they feel confident that only 6% of the companies they do business with are actually good. In other words, they have a deep desire to buy good, but have no idea if the companies that serve them are good or not. There are good companies out there, and a lot of work needs to be done by companies to tell their authentic story and build a firm relationship with customers based on who the company is, and what positive good it achieves.
My co-author Jeff Vanderwielen and I talk in The Purpose Revolution about how companies who close the purpose gap are going to be the real winners. As employees and customers, we want more. The companies who listen and really deliver are going to be the ones we choose to work for and buy from. The Purpose Revolution is here. Are you ready? Watch my Izzo on Purpose video to find out more about The Purpose Gap.
Guy DaunceyPosted at 02:42h, 07 April
Well, I guess I get to be the first to comment here! I have just finished reading The Purpose Revolution – and many thanks! I’m giving a talk to 15 CEOs in Vancouver next week, on the topic ‘Can Business Change The World?”, and I will be taking a copy and recommending that everyone buy it and read it.
On a practical matter, could you provide some of the checklists etc as PDF,s under Resources on your website? The final set of questions in the final chapter on page 211,, for instance, would be useful as a hand-out.
I live just across the water, on Vancouver Island!