The business of business is... purpose
Korn Ferry Institute’s Signe Spencer and Guangrong Dai explain how the way organizations frame their purpose can impact their performance.
Happier. Healthier. Wiser. Not only does fulfilling a purpose impact job performance, it can also boost one’s entire well-being.?
In its latest report, What is Your Purpose?, the Korn Ferry Institute looks at how having a purpose in life, whether big or small, can have a significant impact on your health. Indeed, Purpose IP, developed by KFI, shows that a strong sense of purpose correlates with work engagement and organizational commitment. Furthermore, biomedical research confirms that having a purpose allows an individual to live longer and live better—and thus, bring their best self at work.
This is because purpose supports hope, resilience, and intrinsic motivation. As Korn Ferry research shows, people who have a strong purpose are better able to achieve success in an uncertain world. They can better weather storms, cope with stress, and rise above difficult times. Purpose is a constant in a fast-changing environment—a core principle to inform choices.
When people are allowed the opportunity to fulfil their personal purpose, they can be deliberate about what they do and how they do it in a way that expresses their values. They can recognize their unique talents and use them for greater impact. And when people live their purposes, the feeling of self-fulfillment never dries out.