The Importance of Purpose

By Nawal Es-sdiqui Industry Insights Comments Off on The Importance of Purpose

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Last year S4M took a new approach on how we wanted to help our different communities across the globe. Whether it be helping to remove carbon emissions through our partnership with Ecotree or donating revenue to help hospitals fight COVID-19 in France, we are looking at how we can give back. Partnering with Givsly in the US, we have begun to shift the way we think about how we are spending time with our clients, realizing that outside of the traditional lunches and happy hours, we can provide an experience that has a real purpose and is socially impactful. 

Givsly is a for-purpose company that helps businesses rethink the way that they can create social impact and give back to their communities. Through their initiatives, they create opportunities for people to connect in exchange for donations to nonprofits they care about and develop turn-key events that companies can sponsor to create more purposeful experiences. 

Our CRO, North America, Ed Silhan sat down with Givsly for their For-Purpose Experience podcast recently to share why we are taking these steps.  

Ed, along with Givsly CEO Chad Hickey, Rob DeSalvo, SVP of National Sales and Content Solutions at Undertone, Nicole Adams, Program Manager at SuitUp, and Nikkya Hargrove, Director of Programs at Harboring Hearts, discussed how corporations are rethinking employee and client engagement and how they give back to the community. 

Three key themes seemed to emerge during the conversation. 

Younger generations are often driving this shift

As more college grads enter into employment, we are seeing the workforce skew younger, especially in the advertising and media sector. In 2020 GenZ and Millennials are noted to make up a majority of the workforce with GenZ expected to represent 75% of it by 2030.* 

We are finding that younger generations are seeking to have a more meaningful purpose and are striving to interact with their communities in a way that helps. According to Mackenzie Corporation, 77% of Millennials and GenZ involve themselves with a charity or good cause and they are now expecting that their companies address these social and environmental issues too.** With 10%-20% of GenZ employees reporting that they’d even be willing to take a pay cut in order to be able to work towards a cause they care about.

The demand from these employees is helping to drive the involvement of companies with CSR efforts and to shift the concept from  a ‘once a year volunteer day’ mindset to something that is becoming embedded into overall company culture and values.

Buy-in from leadership is key for success 

With the demand from their employees to promote social responsibility and get involved in socially impactful programs, 

Although we’re seeing that younger employees are leading the charge, it ultimately requires the senior management team sign-on in order for the programs to be implemented within the organization.  Recently, leadership teams are looking for ways in which to support  their communities and employees as well,helping to work with them to identify the right  opportunities  for their business. Building a responsible and sustainable business is crucial for the success of that business.

Having an executive champion helps to really embed the social responsibility programs within the company culture and really adds to the value of these initiatives among teams and encourages staff involvement. 

Purpose can help build deeper bonds with employees and clients 

We’re seeing that  people across the board are looking to interact with companies, whether it  be as an employee, client or as a consumer, that are socially responsible. 

88% of consumers want the brands they support and engage with to have CSR initiatives, some even stating they’d go so far to boycott a brand that supports a social issue/cause that conflicts with their own.***

For employees and clients, the sentiment is the same. Companies that have implemented volunteer programs have noticed that providing an environment where co-workers and partners can engage in meaningful activities has helped to build deeper relationships. 

We’re all striving to do good and make our communities a better place. When the corporations we engage with everyday help to make that possible it encourages us all to take part in having a  positive social impact.  

Tune into here to listen to the whole podcast. 

*Forbes

**Mackenzie Corporation

*** Cone Communications

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