We research how purpose drives business success. And our data is clear: purposeful companies consistently score higher on all relevant business metrics. Learn more in Purpose Index™ 2024.
A window of opportunity
Purpose in 2024
It’s never too late to start acting on what the data is telling us. In 2024, we see a highly favorable landscape for investing in purpose-driven strategies thanks to a number of macro factors.
Explore how purpose creates business impact in Purpose Index™ 2024.
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—People expect businesses to solve more than one issue. They care about the environment and their health, while also needing good value for money. Provide all and you’re in a sweet spot.
01 Customers demand it
Consumers increasingly prioritize brands that align with their values and contribute positively to society. Purpose-driven strategies resonate with the growing demand for socially responsible and ethical business practices.
A 2023 survey found that consumers are willing to pay a premium of 12% on average for minimized environmental impact, and the most concerned consumers will pay significantly more depending on the product.
02 Employees want nothing less
The workforce, particularly younger generations, values working for companies with a clear sense of purpose. Adopting purpose-driven strategies will aid talent acquisition, foster a positive work culture, and retain engaged employees.
A 2023 survey highlighted that more than half of younger employees are reevaluating the purpose of their careers, with 56% expressing a desire to contribute more to society post-pandemic.
03 Resilience in downturns
Well-known analysis of the stock market has revealed that companies that use progressive strategies and stay closely connected to customer needs can ride a positive momentum during and after a financial downturn.
Companies that have a clear direction to lean on and can deploy a deliberate combination of defensive and offensive moves has the highest probability—37%—of pulling ahead of the competition coming out of a market downturn.
04 Investors put a premium on it
Investors are increasingly considering environmental, social, and governance (ESG) factors in their decision-making. Companies with strong purpose-driven strategies will attract more investors who prioritize sustainable and responsible business practices.
No less than 89% of investors take ESG factors into account in their investment decisions, highlighting the growing importance of ESG in investment strategies.
05 Staying ahead of regulation
Governments and regulatory bodies are increasingly emphasizing sustainability and corporate responsibility. Investing in purpose-driven initiatives positions businesses to meet evolving regulatory requirements and stay ahead of potential legal and compliance changes.
