Mission, Vision, and Purpose Statements - What They Are and Why You Need One?

Mission, Vision, and Purpose Statements - What They Are and Why You Need One?

Why do people want to work for your company? You may think that is a silly question, as most people need to work to earn an income. While that is true, the employees of today are looking for more than just a salary and benefits; they want a “why.” Why was your company formed? Who do they serve? What would their impact be if they worked for you? To stand out to potential candidates with the talent pool shrinking, make sure they know your “whys,” by creating and sharing your mission, vision, and purpose statements. Let’s dig into what these statements are and how they differ from each other.  

Why Are These Statements Important to Your Business?

You may wonder what the benefits are of having mission, vision, and purpose statements. Simply put, they provide both your clients, employees, and anyone who may interact with your business the “whys” of the business. They define what the company stands for and the core beliefs and values that are the basis of business decisions.

When creating and introducing these statements, involve current employees in the process. Including them not only helps them feel valued but encourages them to embody the beliefs into the work environment.

Mission Statements

When drafting a mission statement, it should provide a short, clear description of your company’s purpose and goals. Also, include what contributions the company makes to the community and/or world as well as how and why the company chose these goals.

A well-written mission statement would be 50-100 words long and include the following.

•       Describe what product or service you provide to the customers.
•       Explain what you do and how it affects the employees, community, and the world.
•       State clearly the reasons you provide the services that you do. What are the differences that make your company stand out from others in the industry?

Vision Statements

A vision statement is designed to provide a purpose to your leadership team and employees. Make it short, just one to two sentences. It should be aspirational while giving them direction and a reason for what they do and how they fit into the bigger vision of the company.

By providing leadership around the corporate vision, your team will find inspiration and believe in the vision, providing them job satisfaction - more than just a job.

Here are some tips for creating your vision statement.

•       It should be short and easy to remember, as well as something that encourages the entire company to accept the challenge to achieve the goals.  
•       Keep the vision front and center. Include it on your website, post in prominent places, on business cards, stationary, or placed on company apparel.
•       Challenge your team to be accountable to the vision statement and to achieve the goals of the organization.

Purpose Statements

In one sentence a purpose statement is composed to explain the overall reason the company exists. The statement should make clear who the company serves and how it will conduct business to fulfill its mission and achieve its goals. By ensuring your team understands your business and its purpose they will be motivated to achieve the goals and satisfy those you serve.

When writing your purpose statement, include the following components.

•       Know the company why, who you serve, what products or services you offer, and why you are different from others in your industry.
•       Include motivating and inspiring words that represent your company.
•       Request others within the company to make suggestions of what they believe should be included.

Why Should You Share These Statements with Job Seekers?

You may believe that candidates understand what they are getting when they apply for an open position in the company. The job description, position requirements, salary, and benefits information are in the job posting. Today’s applicants are looking for purpose and meaning, too. When you share the vision of the company, it shows them you’ve given thought to what they are looking for, and that in addition to being a successful company that is making money, you have goals and a clear vision for the present and beyond.

As you face a difficult job market, you want to attract the right candidates, those that share your vision and understand your goals. During an interview, do you ask the candidate “Why do you want to work for our company?” Or “What made you apply with us?” If that candidate mentions your mission, vision, and/or purpose statement, you should be interested in hiring them. Why? Because they took an interest in knowing about your company, and they are aligned with your vision and goals.

These statements will also aid in employee retention. If your team knows their purpose, feels connected and engaged with the company’s mission, they are more likely to stick around and come to work every day.

Invest your time to develop mission, vision, and purpose statements, incorporating them into your business, to develop a team that is aligned and ready to contribute to your company’s success.

If you would like to help in creating statements that represent you and your company, schedule a free consultation with Jill at Let’s Build Talent today.