A chief purpose officer can help bridge the gap between intention and purpose action.
A recent EY Beacon Institute and Harvard Business Review study that surveyed 474 executives found that an overwhelming number of business leaders believe that purpose is a transformative lever. Of those, 85 percent strongly agree that they are more likely to recommend a company with strong purpose, while 84 percent strongly agree that business transformation efforts will have greater success if integrated with purpose. In reality, the follow-through with those beliefs hasn’t exactly happened. Only 46 percent of those surveyed think that their organization has a strong sense of purpose.
This disconnect is a clear indication that a CPO is needed to bridge the gap between intention and action for purpose. Working with the CEO and COO, the CPO role acts as a catalyzing force in internal alignment, creating “invertising” campaigns to mobilize employees and effectively explain the strategic purpose of the company top-down and bottom-up.