Our “true north” is said to be the internal compass that acts as a guide towards success and achievement. It is your orienting point – your fixed point in a spinning world, that helps you stay on track as a leader. As we face uncertainty and paradigm shifts never experience or faced before personally or in business. In these stressful, surreal times, it is understandable for directors to fixate on the urgent business priorities at the expense of the more intangible or personal considerations. How important is it to ensure we and those in our organisations think about purpose?
The Rush Memory & Aging project, which began in 1997, finds that when comparing patients who say they have a personal sense of purpose with those who say they don’t, the former are:
What is seen in personal experience of purpose can also be said of purpose in a business setting. Purpose can be an important contributor to employee experience, which in turn is linked to higher levels of employee engagement, stronger organisational commitment, and increased feelings of well-being. People who find their individual purpose congruent with their jobs tend to get more meaning from their roles, making them more productive and more likely to outperform their peers. McKinsey research finds a positive correlation between the purposefulness of employees and their company’s EBITDA margin. In boardrooms real and virtual, frantic questions have the floor. How long will this last? How will we pay furloughed workers? What are our peers doing? What should we do first? In moments of crisis, the default expectation is that businesses will hunker down and focus on bottom-line fundamentals. But in this crisis, stakeholder needs are already so acute that the opportunity for businesses to make an indelible mark with human support, empathy, and purpose is greater than it has ever been.
Finally, decisions about purpose may be some of the more difficult decisions of your career. There will be a cacophony of opinions; adjudicating them will take discipline and conviction. There may be thinner evidence to guide your actions than you would like. Don’t let yourself be rushed. Establish a fact base to help you weigh trade-offs and mitigate risks. Above all, don’t settle for “generic” on purpose. You do have a “true north” to discover, and unique impact to deliver. Each company’s role stretches far beyond the confines of your employees and customers. Our suppliers will look for guidance, peers will look for inspiration. And society will hold us as directors accountable for leaving the world a better place than it was when we started.
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Your post 'Is Purpose a Business & Personal True North?' presents a thought-provoking exploration of how purpose serves as a guiding principle in both professional and personal life. The way you seamlessly blend business strategy with personal growth is insightful and inspiring. It's a powerful reminder of how aligning with purpose can drive success and fulfillment in every aspect of life.
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AuthorMark Huddleston is MD, Non-Exec, Skills, Employability & Productivity Advocate. Providing support to regional / local government and SME's Archives
June 2025
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