Mar 23, 2021
Many companies have detailed corporate mission and vision statements, but do they have a real purpose? It's an important distinction to make as employees and customers increasingly expect companies to take a stand on issues outside of work.
Stacia Sherman Garr, principal analyst and co-founder of Red Thread Research, joins us to talk about her research into organizational purpose and how to build it into talent practices.
"In this time when so many of us have been working these long hours and have been having to maybe home school or take care of elders, we can't help but ask ourselves, why are we doing this?" she said. "What's our own purpose? And what's the purpose of the organization I'm working for? And is it worth it?"
In this episode, Stacia explains what the purpose-driven organization is and how it fits into the future of business. Highlights of the conversation include:
- The history of stakeholder capitalism and why the focus on shareholders is a relatively recent phenomenon.
- How the last year has shifted the conversation about organizational purpose and social impact.
- How leaders can be authentic and avoid "purpose-washing."
- The ways that organizations can embed purpose into practice from hiring to employee development.
Plus, co-hosts Siobhan Fagan and Mike Prokopeak hear the voice of their internal skeptic and discuss whether or not this moment of corporate vulnerability and transparency will last.
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