Sharp perspectives. Deep expertise. Cutting-edge innovations. Purposeful Connections is your bi-weekly source for the latest in purpose and ESG. Subscribe here.
From my earliest years leading Cone, I have always loved conducting research to support the strategic development and impact of authentic purpose. Now, I am excited to announce a new, research-backed capability that will help companies better understand the impact of purpose on their employees and across their organizations. Called EPiQ (Employee Purpose iQ), it's the first tool of its kind to uncover where an organization’s purpose is maximized or underutilized among employees. We developed EPiQ in partnership with our colleagues at The Harris Poll to help organizations better understand how purpose is performing across the enterprise. Is it credibly embraced by leadership to build trust? Is it boosting workforce performance? Is it a magnet for talent? Is it motivating to employees? We developed EPiQ to uplevel purpose performance in companies of all sizes, so thousands of organizations will have a better answer to a question we always ask: What is the power of your purpose? Read our section on EPiQ below to learn more.
Return on ESG Strong ESG outcomes result in enhanced financial performance, found recent research from Bain and Ecovadis. In particular, companies that perform well on environmental and diversity, equity, and inclusion commitments have better financial results. Another indicator of better returns? Satisfied employees. Companies with the most satisfied employees had three-year revenue growth five percentage points higher than laggards, and profitability six percentage points higher. // Bain: Do ESG efforts create value?
Capitalism in crisis It's rare that Americans agree on something across generational, racial, gender, and political boundaries. Yet, 80% of Americans are in agreement that our current system of capitalism needs to evolve. This doesn't mean that Americans prefer another system, though. Seventy percent of Americans think capitalism is the best option, despite feeling that it could work better. "Americans of all flavors and stripes hold the triumvirate that is business, government, and individuals accountable for the system’s continued evolution," notes Forbes. // Forbes: Capitalism's crisis of perception
Purpose or profits? New research from The Harris Poll and Carol Cone ON PURPOSE found that half of U.S. employees believe their employer is focused only on making a profit. The Harris Poll/Cone Employee Purpose Engagement Survey also found that nearly 70% of employees believe it's not enough for companies to just make a profit; they have a responsibility to drive positive societal impact. Insights from the study underpin a new diagnostic service from CCOP and The Harris Poll: EPiQ, or Employee Purpose iQ. EPiQ provides companies with a unique score, insights, and recommendations to help organizations maximize their investments in purpose and determine where it is or is not optimized among employees. // 3BL: Half of U.S. employees believe their employer is only focused on profits
Mental health matters May is mental health awareness month, and each year brings a new round of consumer and employee research. Unfortunately and unsurprisingly, Americans' mental health is worsening. Forty-three percent of U.S. employees feel anxious and distressed, according to Transamerica Institute; two-in-five Americans are concerned for their mental health, according to CVS Health; and 34% of employees say their mental health is worse than it was three months ago, according to The Conference Board. Beyond the obvious and direct impacts on individuals' overall wellbeing, poor mental health negatively impacts companies as well. Employees self-reporting poor mental health are less engaged, have a lower sense of belonging, and more likely to do only the bare minimum at work. // Transamerica Institute: Stepping into the future // Health Leaders: CVS Health Survey reveals 4x gap in physician-patient mental health perceptions // The Conference Board: Mental health worsens for 34% of U.S. workers
Listen to the latest episode of Purpose 360 Podcast with Carol Cone here Join Tanya Rodriguez, Senior Human Experience Research Manager (“Cultural Anthropologist”) of Hormel Foods as she speaks about how Hormel uses ethnography to learn directly from consumers, inspire product innovation, and ensure products reflect equity and representation.