Are You Part of the Purpose Revolution?

The purpose of life is a life of purpose

By Rodger Dean Duncan

There’s a revolution going on, and it’s growing faster than you might imagine. In fact, you may even be part of it.

It’s a revolution of purpose.

More than ever, people are making purpose-based decisions as employees, consumers, and investors. They want their work and money not only to provide for their own material needs, but simultaneously to help create a better world.

That’s why early in my career I enjoyed working at Campbell Soup Company, known for its corporate citizenship programs that help countless underprivileged people around the world. That’s why my wife and I avoid shopping at a major retailer known for poor treatment of employees and suppliers. That’s why we long ago told our financial advisors to forego investing any of our money in funds that include manufacturers of tobacco or alcohol products.

We are certainly not alone. Some demographers estimate that aspirational employees, consumers, and investors may represent more than a third of the global population. That doesn’t mean all these people think about higher purpose every time they sign on as an employee, buy a product, or make an investment. But it does mean a growing number of people are saying they want to help make the world a better place when they make decisions in the marketplace.

We live in an age of disruption and differentiation. While the purpose gap is a threat to some companies, it’s a compelling opportunity for others.

Dr. John Izzo was a pioneer in the corporate social responsibility movement. Today he’s a prominent voice on shifting expectations among employees and customers. I visited with John about his book The Purpose Revolution: How Leaders Create Engagement and Competitive Advantage in an Age of Social Good.

Rodger Dean Duncan: What are some of the more common mistakes companies (and their leaders) make when trying to get on the “purpose” bandwagon?

John Izzo: There are two seemingly opposite mistakes. The first is not taking purpose seriously enough. In this case, companies decide that purpose creates competitive advantage with employees, customers and investors. But the changes they make are not pervasive so there is no real opportunity to differentiate. Stakeholders see through the nice paint job and well-crafted story about making a difference. Truth is, the efforts are not inspiring enough either to truly differentiate in the marketplace or make a big impact on society.