How your company purpose drives success
Photo by Jamie Street on Unsplash
Ever since the Great Resignation began in 2021, the web is rife with articles asking and answering, “Should I quit my job?”
To prevent your employees from Googling the question, we’ve rounded up some expert strategies.
Today’s agenda:
🧑🏭 Higher purpose = higher retention
🏦 Warren Buffett’s take on the banking crisis
🤖 AI tools for SEO
💼 Briefly — our quick news roundup
⏱️ Up & coming
How a clear company purpose attracts the right talent
A LinkedIn survey of 2,000 U.S. workers in December found that 61% were thinking about quitting in 2023.
🧑💼 Younger workers such as millennials and Gen Z were most likely to quit, with 66% and 72%, respectively, but 55% of Gen X also were considering it.
👉 One key way to zero in on employee retention is to focus on your company’s purpose as the driving force behind all activities.
Executing a purpose-driven strategy
Dr. Curtis Odom, a former Fortune 100 executive who teaches, consults, and coaches from his proven results, recently shared how a clear company purpose will result in the following:
Differentiate you from competitors
Inspire and motivate employees
Build/maintain a strong brand identity
Create a sense of loyalty and commitment
Companies are facing a lot of challenges right now from both internal and external factors.
🥇 Here’s how to make purpose a priority:
Determine whether your purpose has meaning to current employees: Is it why they joined your team? Does it keep them motivated every day? If not…
Redefine your purpose to suit your industry, company size, and culture
Align your values with your purpose
Clearly define the purpose to keep language consistent
Communicate the purpose via meetings, emails, and other channels
When everyone is on the same page about your company’s purpose, Dr. Odom says leadership must make sure all goals and actions align with it — and actively embody it themselves.
🖐️ How much of an impact does your company’s purpose have among employees?
Need a mentor?
Who do you turn to when you’re on top?
According to this CEO, CEOs need mentors, too.
👀 How to find one:
Keep learning and seeking out information
Find someone who’s been in your shoes but is now farther along the journey
Only ask crucial, open-ended questions
Seek to learn from their mistakes
🔑 Key tip: LinkedIn is a great place to network and find the CEO mentor you’re looking for.
Buffett calls for executive accountability
Warren Buffett, investor and CEO of Berkshire Hathaway, called out bank execs, politicians, and the press in the aftermath of the recent bank failures during Berkshire Hathaway's annual shareholder meeting on Saturday.
Buffett said those who led the banks into crisis should be punished and bank CEOs and directors should suffer.
“It teaches the lesson that if you run a bank and you screw it up, you're still a rich guy … and the world goes on. That is not a good lesson to teach people who are holding the behavior of the economy in their hands.”
Warren Buffett
Buffett also criticized how politicians and the press communicated the failures, which confused and scared the public.
🗣️ Quotes from Buffett and Charlie Munger at the meeting:
“When something can do all kinds of things, I get a little bit worried. We won't be able to uninvent it. AI can change everything in the world, except how men think and behave.” - Buffett
“It's so simple to spend less than you earn, and invest shrewdly, and avoid toxic people and toxic activities, and try and keep learning all your life, and do a lot of deferred gratification. If you do all those things, you are almost certain to succeed. If you don't, you're going to need a lot of luck.” - Munger
“You should write your obituary and try and figure out how to live up to it.” - Buffett
How to use AI for SEO
A HubSpot survey found that most marketers (71%) are using generative AI in their content marketing strategies.
To keep up with the competition, your organization may want to do the same.
🤖 AI tools exist that can analyze your website’s performance and offer solutions for how to boost it.
Check out a few of the top tools:
Jasper — plug in the seed words and tone, and Jasper will churn out SEO-optimized emails, blog posts, and more
Surfer SEO — audit your website to find problems with SEO and get weekly SEO insights for content ideas and keywords
SEMrush — find the most relevant keywords for your content, audit your website, and monitor backlinks
AI is coming to Google Docs
And this writer is testing an early beta version.
TL;DR: It’s a handy tool, but not nearly as useful as ChatGPT.
Here’s what it does well (so far):
Draft emails
Draft marketing messages or quick posts
Shorten sentences
Briefly
⌨️ 25 years of Google: Read what AI-related challenges the company is facing after 25 years of dominating search
🏘️ Almanac CEO says remote work is a trend that isn’t going anywhere
📉 The unemployment rate is tied for the lowest since 1969
🧑💻 Digital mortgage platform exec says the future of digital workflows must balance technology with a human touch
Up & Coming
President Biden invited the “big four” congressional leaders to meet today at the White House to discuss the debt limit.
Treasury Secretary Janet Yellen said “financial and economic chaos” will ensue if Congress doesn’t raise or suspend the debt limit before early June.
Also, the latest inflation data comes out tomorrow.