Numerous attacks on leading corporations for “purpose washing” show that the success of a purpose-driven positioning hugely depends on a company’s credibility. Only companies which are perceived as scandal-free as well as honest, authentic, responsible, sustainable, and fit for the future can authentically communicate a corporate purpose and claim to be a “net positive” company. The Purpose Readiness Index ranks companies by their public credibility as purpose ready, partly purpose ready, with critical purpose gaps or lacking a basis for a credible purpose activation.
The survey was conducted together with a professional research institute and represents the informed public. Eligible for participation were respondents aged 18-65 years and located in the market, who regularly informed themselves about the news.
The survey items are based on the latest scientific purpose research, recent brand personality scales as well as media-based trend analysis. The survey is constructed to avoid the typical positive bias that many inhouse brand measurements face.
The results of the Purpose Readiness Index provide a better understanding of whether a company can credibly communicate a purpose in the general public and where there’s room to strategically improve your corporate brand and ESG-related positioning. When a company ranks as (partly) purpose ready, it does not display any severe reputational issues in its public perception which could counteract a successful purpose activation. The lower a company ranks however, the higher the risk that it might be accused of purpose washing when claiming a corporate purpose concept.
In the wake of mega-challenges and trends, such as the climate crisis, digitalization or new work, corporate purpose has turned out to be a strategic success driver for many corporations and especially those which are going through major transformations. A well-defined purpose concept allows corporations to highlight their positive contribution which must be firmly anchored in their business model. Purpose can boost performance, helps a great deal in attracting and retaining talents, enhances your investment case and drives innovation. That being said, the success of a corporate purpose hugely depends on how it is communicated towards all stakeholders, and whether words and actions match.
Please get in contact with us if you’re interested in learning more about the challenges and opportunities that hide behind the numbers of our Purpose Readiness Ranking for your company. We have supported numerous leading companies and brands with the successful development and activation of their corporate purpose and related sustainability, ESG and talent initiatives.
We focused our research on public companies as well as other leading corporations with reasonable awareness in the public which we identified by cross-comparing established brand rankings. Please get in contact with us in case your company is not featured in this year’s Purpose Readiness Index. Based on your needs, we can run a small follow-up survey to help you understand your company’s purpose readiness.
With the purchase of a study or company specific insights, Globeone offers a complimentary one hour online call with our purpose experts. During the call, our experts will walk you through your company’s results, how they were collected, what they mean for your brand and answer any questions you may have. We encourage you to invite any relevant colleagues who are also interested in the topic of purpose.