In today's rapidly evolving business landscape, purpose has emerged as a powerful driving force behind successful organisations. It is no longer enough for leaders to possess technical expertise and industry experience; hiring candidates who share your company's purpose and vision has become a critical factor in driving business performance. This blog explores the reasons why purpose has become a focal point in the hiring process, the impact of purpose-driven leaders on business performance, and the combined power of diverse experience, soft skills, and shared purpose in building high-performing teams.

Why has purpose become such a focal point in the hiring process?

Today's workforce seeks meaning and fulfilment in their professional lives. A sense of purpose serves as a powerful motivator, driving individuals to go above and beyond and fostering a deep sense of commitment to their organisation's mission. This shift in employee expectations has forced businesses to prioritise purpose in the hiring process.

Candidates who align with your company's purpose are more likely to be engaged, motivated, and committed to the organisation's goals. They bring a genuine passion for the work they do, which translates into higher levels of job satisfaction and productivity. According to a study conducted by Deloitte, 73% of employees who say they work for a purpose-driven organisation are engaged, compared to just 23% of those who don't feel a sense of purpose.

Of course, simply hiring staff aligned with your company’s purpose isn’t enough. The leadership team must fully embody the organisation's mission, leading from the front in demonstrating their commitment to the cause through their decisions, actions and culture.

How do leaders who share your company's purpose impact business performance?

Purpose-driven leaders have a profound impact on business performance and overall organisational success. When leaders embody the company's purpose, they inspire and motivate their teams to reach higher levels of achievement. Their passion is contagious, creating a culture of commitment and excellence.

Furthermore, purpose-driven leaders excel at attracting and retaining high-performing talent. In a highly competitive job market, candidates are increasingly seeking out organisations that align with their values and purpose. A strong purpose can act as a powerful magnet, attracting like-minded individuals who are driven by a shared mission. This not only enhances the quality of the talent pool but also increases employee retention rates. A survey by LinkedIn found that 71% of professionals would be willing to take a pay cut to work for a company with a mission they believe in.

Additionally, purpose-driven leaders foster a customer-centric mindset within their organisations. By connecting the company's purpose with the needs and aspirations of customers, they create products and services that resonate deeply with the target audience. This alignment results in stronger customer loyalty, higher satisfaction levels, and increased market share. In fact, a study by Ernst & Young revealed that purpose-driven companies outperform their peers in the stock market by a factor of 10 over a 15-year period.

Why is a combination of diverse experience, soft skills, and shared purpose more powerful?

While hard skills and industry experience are undoubtedly important, they are no longer sufficient on their own. The complex challenges faced by businesses today require leaders who can adapt, innovate, and collaborate effectively. A combination of diverse experience, soft skills, and shared purpose is what sets leaders apart and drives extraordinary results.

Diverse experience brings a fresh perspective to problem-solving. Leaders with varied backgrounds and experiences are more likely to think creatively, challenge assumptions, and identify unique opportunities for growth. This diversity of thought leads to greater innovation and adaptability, enabling organisations to thrive in a rapidly changing environment.

Soft skills, such as emotional intelligence, communication, and collaboration, are critical in building strong relationships, motivating teams, and driving effective decision-making. Leaders who possess these skills can navigate complex interpersonal dynamics, inspire trust and respect, and foster a culture of collaboration and high performance.

When combined with a shared purpose, diverse experience and soft skills take on even greater significance. When leaders and team members share a common purpose, it creates a sense of unity and cohesion that fuels collaboration and drives everyone towards a common goal. This shared purpose acts as a guiding force, aligning individual efforts and fostering a sense of belonging and collective responsibility.

Consider the example of Patagonia, a renowned outdoor clothing and gear company. Their purpose stated as "Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis," attracts individuals who are passionate about sustainability and environmental conservation. By hiring leaders who share this purpose, Patagonia has built a team of like-minded individuals dedicated to their mission. This shared purpose not only strengthens the company's culture but also drives innovation in sustainable practices, leading to remarkable business success.

Furthermore, a combination of diverse experience, soft skills, and shared purpose enables leaders to navigate complex and uncertain times with resilience and agility. The ability to adapt to changing market dynamics, embrace new technologies, and effectively lead diverse teams has become paramount in today's business landscape. Leaders who possess a deep sense of purpose and a diverse set of skills are better equipped to face these challenges head-on, make informed decisions, and guide their organisations towards sustainable growth.

It's important to note that this upholds the importance of hard skills and industry experience. These attributes still hold value and provide a foundation of expertise. However, in an era of disruption and rapid innovation, organisations must prioritise purpose-driven leaders who can leverage their diverse experiences and soft skills to navigate uncertainty, drive innovation, and create sustainable competitive advantages.

Purpose rightfully needs to be a focal point in the hiring process.

Leaders who share your company's purpose and vision have a significant impact on business performance, inspiring and motivating teams, attracting top talent, and fostering a customer-centric mindset. When combined with diverse experience and soft skills, shared purpose becomes even more powerful, driving innovation, collaboration, and adaptability. As organisations strive to thrive in an ever-changing business landscape, purpose-driven leaders are the catalysts for success. By prioritising purpose in the hiring process, businesses can build high-performing teams that are capable of achieving extraordinary results.

At ELR Executive we have over 20 years of experience helping FMCG and Food and Beverage organisations identify and attract the right talent to help achieve better business outcomes. If you'd like to learn more about how we can help you help build purpose into your candidate screening and interview process, speak to us today.