The emerging role of finance in purpose-led organizations

In this episode of The Better Finance Podcast, Kris Pederson, EY Americas Governance Leader, joins podcast host Myles Corson to discuss strategic and purpose-led transformation and the importance it has in communicating long-term value.

Key takeaways

• Successful organizations have a unique purpose that gives focus and meaning to everything they do. That purpose is well articulated, aligned, and activated within the organizations.
• Purposeful companies hire and retain the best employees. A 2013 study shows that employees are three times more likely to stay with a purpose-led organization.
• Purposeful companies attract, satisfy and engage customers better. EY research shows that 72% of customers would recommend a company with purpose and 89% of customers believe a purpose-driven company will deliver the highest quality products and services.
• Corporate purpose supports the communication of the long-term value particularly with intangible strategic assets such as loyalty, trust, brand, employee engagement, sustainable resourcing and manufacturing and green environmental programs.
• The finance function is at the center of measuring and reporting long-term value.