Thursday, December 12, 2024

Purpose-driven work: How the finest workplaces align values and mission for success

Purpose has become one of the most critical factors impacting workplace success today. Employees are increasingly seeking a deeper connection between their individual values and the organizations they work for. In response, companies are recognizing the importance of leading with purpose—not only to foster a sense of belonging but also to achieve measurable business outcomes.

A McKinsey study attests to this and highlights that employees who live their purpose at work are 6.5 times more likely to report higher resilience, four times more likely to experience better health, and six times more likely to stay with their employer. This is not just about retention and employee well-being; these individuals are also 1.5 times more likely to go above and beyond in their roles.

Deloitte’s 2023 Global Human Capital Trends report echoes these findings, highlighting that organizations aligning work with individual and collective purpose experience improved well-being, engagement, and productivity. Nearly 70% of surveyed employees also reported reflecting on their purpose at work.​ And so, as employees dive deeper into how they can carry out their roles with purpose, organisations must equally take charge in reinforcing their vision and mission, and how the larger workforce contributes to this.

To unlock strategies on how this can successfully be achieved, as part of Mint’sIndia’s Finest Workplace Series, we spoke to industry leaders to learn how they are spearheading purpose-driven initiatives within their organizations.

1. Clearly define an actionable purpose.

 

Shaji Mathew, Group Head of Human Resource Development at Infosys, emphasises the importance of a well-defined and actionable purpose. He believes that the best-performing companies are guided by a purpose that extends beyond just business interests.

The Infosys purpose – To amplify human potential and create the next opportunity for people, businesses, and communities – actively includes the well-being of our employees,” he shares.

Shaji Mathew, Group Head of Human Resource Development at Infosys

Infosys has also embraced the rapid pace of change brought on by artificial intelligence (AI). Through an AI-first talent strategy, the company equips employees with the skills necessary to thrive in an AI-driven world. “We are continuously investing in redesigning our jobs and platforms to support this agenda,” Mathew explains.

Purpose, however at Infosys extends beyond professional advancement. Corporate Social Responsibility (CSR) is a way of living the company’s purpose and to be a values-driven employer. For instance, their recent employee-driven volunteering initiative resulted in the creation of over 200,000 seed balls for reforestation across more than 20 locations in India. Mathew highlights the dual benefit of this initiative: “This is a win-win, enabling us to create positive social outcomes while providing employees with avenues to realize their personal purpose.”

2. Communicate and evaluate purpose-driven behaviours

To make purpose a tangible part of the workplace, organizations must ensure that their values are woven into the cultural fabric. Ruzbeh Irani, President of Group HR at Mahindra Group, provides a roadmap for this alignment.

The mission, vision, and values of an organization come to life only when they are truly embraced by its people,” Ruzbeh emphasizes.

Ruzbeh Irani, President of Group HR at Mahindra Group

At Mahindra, the RISE philosophy unites employees under a shared sense of purpose, serving as a foundation for attracting, retaining, and engaging top talent. He also points out the importance of effective communication in aligning employee values with organizational purpose. “A clearly communicated mission statement helps employees understand the organization’s purpose and their role in it,” he says.

Mahindra Group has taken this alignment a step further by embedding values into performance evaluations. “Acknowledging and rewarding employees for behaviors that align with the mission motivates individuals and reinforces the desired culture,” Ruzbeh explains.

3. Address challenges through transparent leadership

Creating and reinforcing alignment between individual values and corporate mission is not without its challenges. Resistance to change, fragmented goals, and external pressures can derail efforts.Biplob Banerjee, CHRO at Emami Ltd., offers practical solutions for overcoming these hurdles.

Leaders must lead from the front, like Kapil Dev in ’83 or Indra Nooyi in the corporate world, to model purpose-driven behavior effectively,” Biplob asserts. He emphasizes the importance of a daily commitment to purpose, likening it to an army drill that requires discipline and consistency. At Emami, this commitment is evident in transparent communication, diversity-focused policies, and hiring practices that prioritize alignment with organizational values. Biplob emphasizes, “When top leadership drives and spends time on aligning purpose, it sets the tone for the entire organization.

Transparency is another cornerstone of purpose-driven work. Biplob shares that simple, accessible processes allow employees to engage with the mission, making it a part of their everyday lives. He highlights mentorship as a key strategy for overcoming shortcomings or building on strengths, drawing parallels to IPL teams that utilize specialized coaches to unlock their full potential.

4. Embed purpose in everyday operations for long-term impact

Purpose is no longer a “nice-to-have” in the workplace—it’s a strategic imperative for growth, innovation and higher levels of employee engagement.

Infosys exemplifies how purpose-driven decision-making can create meaningful outcomes. By integrating CSR initiatives with their mission, the company empowers employees to contribute to larger societal goals, fostering a sense of pride and fulfillment. It also ties in withBCG’s latest research findings which report that 85% of India’s CXOs surveyed believe that ESG initiatives are essential or very important in driving HR strategies and aligning organizational culture with broader societal goals.

Ruzbeh also aptly sums up the role of leadership in this journey: “Leaders and managers must embody the values and demonstrate alignment in their daily actions. This sets a standard for behavior within the organization and reinforces the importance of alignment in building a culture that is truly inclusive and progressive.”

Biplob echoes this sentiment, pointing out that purpose-driven work is a journey rather than a destination. It’s not a one-time exercise; but an ongoing process of reflection and adaptation.

The roadmap to purpose-driven work is clear:define purpose, evaluate alignment in behaviours, address challenges, and embed purpose into everyday operations. Organizations that embrace this path will not only achieve business success but also create a meaningful impact for employees and communities alike.

With a purpose-first approach, organizations can redefine success—making it about more than profit, fostering well-being, growth, and long-term resilience for all stakeholders.

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