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25.08.2020 By Renee Austin, Head of Corporate, Current Global

Feeding Your Soul is Good for Business.

Photograph of a can of soda with the brand name Heart & Soul. The can is black, the logo and writing is red with white illustrations.

Companies that benefit from big brand love, loyalty and “we’ve got your back” advocacy are those that have a soul.

Purpose-driven brands are all the rage. And I do believe in the importance of purpose, as do consumers, employees and even investors. It’s proven to help enhance a company’s reputation, culture and bottom line. But there are a few things to keep in mind to ensure your purpose is true to your corporate soul.

When companies approach their purpose work, they typically create a lovely composition of words born from a very thoughtful and intellectual exercise designed to answer the age old question: Why do we exist? A company’s purpose is often lofty and always aspirational.

When we work with companies, we enhance their purpose by helping them dig deeper into their corporate soul. As people, we may live our whole lives without truly knowing what our purpose is. But our soul is more innate. Our soul is our inner self. It drives both our conscious and unconscious. It’s more guttural, intuitive and serves as a decision filter: Does this (person/belief/relationship/act) sit right within my soul?

A corporate soul also feels more instinctual. It’s heart plus head. It manifests in your beliefs, decisions, actions and every experience you create with your stakeholders. It drives emotional connections, loyalty and advocacy. It becomes your social conscience and your compass for good.

Never have businesses been under more pressure to have a soul as COVID-19 put companies under scrutiny. How did companies and executives speak up and step out during a global pandemic that impacted their business, customers and workforce? Some companies focused on recovery while others completely reinvented themselves to meet the world’s needs at an unprecedented time.

Next came social unrest and racial tensions in the U.S., forcing companies to take a hard look at their board of directors, executive ranks, employee population and corporate and marketing practices. Black squares on social media weren’t enough, and companies are still grappling with where and how they can do better to foster diversity and inclusiveness within their businesses.

I predict sustainability will be the next area that triggers some necessary corporate soul searching. There was already a growing urgency for companies to prioritize sustainability in their business practices, but our COVID-19 environment caused an immediate drop in global emissions, changes in consumer habits and norms that benefit the planet, a green recovery and environmental reset on many fronts, and more appreciation of green space that allowed us to safely social distance amidst a period of isolation. Taking responsibility for the health and wellness of our planet is likely the next requirement for refining our corporate souls.

Baring your corporate soul requires four tenets:

We help our clients become change agents for the greater good. Baring your soul can be difficult, but sharing your soul can help transform the world.

Ready for some soul searching? At Current Global, we can help you tap into your corporate soul in a way that drives business results, builds trust, addresses societal issues and builds an emotional connection with your stakeholders.

 

 

 

 

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