Yum Restaurants International (Thailand)

Sudawan Ariyasap

Companies that have social purpose to lead how they operate not only enhance positive brand recognition, increase customer loyalty but also attract top talent, foster employee engagement and boost employee morale which are instrumental in achieving increased business profitability and long-term success. A business that follows their social purpose demonstrates social accountability for itself, its stakeholders, and society by being conscious of the kind of impact they have on the society and practicing corporate social responsibility, so-called corporate citizenship, to enhance society and the planet.

Social purpose is the reason a company exists, which is beyond product or service. It is the company’s strategy on delivering value and meaning for key stakeholders whether it be customers, employees, society or others. A number of customers who are aware that companies that have social purpose operate in accordance with their social purpose are willing to pay a premium for products. Social purpose is also the greatest driver of workplace success. Companies that have been cultivating social purpose have seen real and undeniable results.

According to Harvard Business School, 93% of employees believe companies must lead with purpose. Nearly 70% of employees say they wouldn’t work for a company without a strong purpose. 92% of employees who work at a company with a strong sense of purpose say they would be more likely to recommend their employer to those in their network who are looking for a job. 90% of employees who work at companies with a strong sense of purpose say they’re more inspired, motivated and loyal.

"As social purpose is the reason a company exists and it is the company’s strategy, it needs to be real from the within, not just a part of external communication plans to build brand reputation and attract customers."

Employees are more engaged when they feel their work is meaningful and having a real positive impact on the society. They want to contribute to something bigger than themselves, and social purpose empowers employees to make a difference to the society by leveraging the resources at their disposal to do good. Even a small investment in social purpose programs can bring about significant improvements in employee engagement and productivity.

As social purpose is the reason a company exists and it is the company’s strategy, it needs to be real from the within, not just a part of external communication plans to build brand reputation and attract customers. It's therefore important that HR professionals play a vital role in identifying and articulating the company’s social purpose, communicating the importance of social purpose to employees, promoting an environment that supports social purpose, collaborating with executives to develop policies and practices that embed social purpose and integrate social purpose into all business processes to ensure social purpose truly leads how the company operates.

HR professionals are also responsible for developing and implementing social purpose programs, acting as catalysts for employee engagement by facilitating opportunities for employees to contribute their skills and resources to social purpose programs, creating platforms for employees to participate in social purpose activities such as partnering with non-profit organizations and implementing sustainability initiatives, and working closely with the communication team to consistently communicate the company’s social purpose and its programs internally and externally. With this inside-out social purpose approach, HR can foster a sense of purpose, pride, and social impact within the workforce, while driving business results and positive impacts to the society.