Giving Compass' Take:

• FSG's Purpose Playbook helps companies create purpose by providing leadership action steps and useful resources. 

• Why is it essential for companies to pivot toward purposefulness? 

• Read more on how having a purpose can make an impact.

We’re still learning all the lessons of this pandemic, but one seems very clear: the system (financial, health care, education, employment, social, legal, political) is interconnected and so are its weaknesses. What started as a health crisis quickly evolved into a near shutdown of the global economy. Furloughs became layoffs and millions of families who lost their income (and sometimes their health insurance) now struggle to make mortgage and rent payments and buy food.

It’s becoming clear that this pandemic and our response to it is deepening social inequities that fall across racial, gender, and class divides. For example, it’s easier to shelter-in-place if you have a comfortable home, a job you can perform remotely, reliable Wi-Fi, and a place to video conference undisturbed. Workers who are faced with the choice of losing their job or putting their health at risk by going to work don’t seem to have a fair choice or a fair chance.

As companies begin to plan their recovery in this altered economic landscape, the enlightened will seek opportunities to reimagine the fragile system we witnessed nearly collapse on itself. These companies will do it with a long-term view toward engineering a system that is made more resilient by strengthening all its stakeholders.

But how can companies strengthen their stakeholders? We believe the answer is to embrace purpose.

In late 2018, we started working on a roadmap for companies on their journey to becoming purpose-led. Throughout 2019, we tested and refined the guide, which we call the Purpose Playbook, with business leaders.

The Playbook introduces nine key practices, describes what “good” looks like for each practice, and provides company leaders action steps, examples, and relevant resources to bring a company’s purpose to life and deliver impact.

Read the full article about purpose-led companies by Dane Smith and Bobbi Silten at FSG.