When asked what they want most out of life, almost everyone will eventually mention that what they really want is to find purpose and meaning. To know that their life matters and can make a difference.
But it’s more than just wanting to impact the world… it’s also good business. And good for your well being. Here’s how.
It’s good for your career
LinkedIn and Imperative recently did a study on purpose in the global workplace. What they found was that people with purpose reported 64% higher levels of fulfillment in their work, were 50% more likely to be in leadership positions, and 47% more likely to be promoted by their employers.
In addition, Ernst & Young’s research shows that people with purpose are 1.7 times more satisfied in their career and 3 times more likely to stay in their job.
And finally, the Association for Psychological Science finds that on average, purpose can even lead to making more money and having higher net wealth.
The reason? Again, it’s good business! In his book, The Invisible Leader, Zach Mercurio makes the case that not only can purpose transform your life, but that it can transform an organization. Nothing motivates people more than purpose. For example, if a company has a well-defined purpose and mission, it empowers everyone on the team. No longer do you have to coerce people to do their job. Rather, people who find purpose in their work will be self-motivated and more productive. Which leads to greater profits, higher salaries, happier employees, and a better organization.
It’s good for your well-being
But we all know that life is so much more than just work. And finding purpose results in greater happiness and well-being.
For example, people with purpose, on average, have been found to live longer with 15% lower chance of death when compared to their peers. They also sleep better, and are also healthier, have less dementia as they age, and even have better sex. Finding purpose improves just about every measure of your well-being!
The Big Picture
A few years ago, I met Dr. Kathleen Farrell, who while completing her PhD at Harvard University in Human Development and Education, taught the Reflecting on Your Life course at Harvard. I remember the feedback she received from students at Harvard, who said that the reflections course gave them the self-confidence and self-assurance to know that at the end of their life, they wouldn’t regret the choices they made. Isn’t that what it’s all about? Living life to the fullest!
And finally, over at the Stanford Graduate School of Business, Dr. Jennifer Aaker has done some amazing research on purpose, which can be summed up in the video below. Sums it all up. Again, purpose changes everything.