Purpose: The New Competitive Advantage

PURPOSE: the new competitive advantage.


Consider these facts. Throughout our lifetime, we spend an average of 92,000 hours at work. That’s a lot of time to spend doing something you don’t believe in, so the best employees are making value-based decisions on where to work.


It’s less and less about money, according to the HBR, 9 out of 10 people are willing to earn less money to do more meaningful work. Studies also show that purpose-driven employees are more likely to be “high performers” and experience higher levels of fulfillment in their work.


The latest generation of companies inherently understands why purpose is a must-have to remain competitive, outperform competitors and attract and retain the best people. There’s evidence that purpose-driven companies outperform the market According to an Accenture study, two-thirds (63%) of consumers surveyed would prefer to buy products from companies whose purpose reflects their values, and avoid companies that don’t.  Studies show that people with a sense of meaning have a 15% lower risk of death, regardless of age.


So, although I may earn less, I feel more fulfilled, perform better and sell more, while living longer! All by doing something I believe in.

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I have learnt to recognise opportunities to step beyond my comfort zone in the pursuit of things that bring me true fulfilment – it was a small tweak that has ended up making a significant difference. We now speak on a regular basis and Simon has become the voice which says “you can do this”.

Keith Banwaitt