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As companies become purpose-led, where does that leave charities?

https://www.fastcompany.com/90218324/as-companies-become-purpose-led-where-does-that-leave-charities

fastcompany.com

As companies become purpose-led, where does that leave charities?
Sustainable, meaningful, purpose-led. However framed, when applied to organizations, these terms indicate to wider society that a company is committed to making a difference. Evidence proves that purpose-led organizations are no longer a buzzword; they are fast becoming the norm because they can prove that they add real value to employees, shareholders, and customers.

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Larry Fink

“Without a sense of purpose, no company, either public or private, can achieve its full potential; it will ultimately lose the license to operate from key stakeholders.”

Larry Fink

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Human Well-being 

Human Well-being 

As companies strive to become more meaningful, purpose-led, sustainable and connected to human well-being, they are seeing increasing value among stakeholders and customers.

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A crucial Alliance

A crucial Alliance

To make real progress, governments, civil society, companies, and charities must come together and form an alliance.

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The new skills required

As companies work towards their purpose, these are new skills they need to learn:

  • Empathy
  • Global movement
  • Employee orientation towards meaningful work.

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Empathy

Empathy

Companies usually look at what customers want or need.

They need to understand the feelings of the customers, their motivations and empathize with customers beyond the product, at a grassroots level.

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Global Movement

Global Movement

Normally, companies are spending top dollar in marketing and lobbying around economic agendas, to increase their profit share in the market.

They need to have a similar global movement towards social causes, using the resources they have, to have a real impact.

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Helping Employees find meaning

Helping Employees find meaning

Good, purpose-led values that drive work in the charity sector needs to be cultivated at the workplace.

Corporates should unlock the purpose and motivation that a charity has, by making their employees find meaning in their work, and helping society, starting from their workforce.

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