{"id":1376,"date":"2025-02-27T11:14:45","date_gmt":"2025-02-27T00:14:45","guid":{"rendered":"https:\/\/www.biworldwide.com\/en-au\/?post_type=case-study&p=1376"},"modified":"2025-04-03T15:01:28","modified_gmt":"2025-04-03T04:01:28","slug":"a-purpose-worth-banking-on","status":"publish","type":"case-study","link":"https:\/\/www.biworldwide.com\/en-au\/our-work\/case-study\/a-purpose-worth-banking-on\/","title":{"rendered":"A purpose worth banking on"},"content":{"rendered":"
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Most business understand the value of knowing “their WHY” and most leaders realize that having a clear purpose ignites passion, sharpens focus, and drives results. But over and over, we see companies leaving their real value on the table.<\/p>\n\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

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Results<\/h2>\n\n\n\n

Connecting employees to a bigger purpose ignites passion, sharpens focus, and drives results. This recognition strategy put the company’s purpose in the spotlight and saved $10.4 million in turnover-related costs.<\/p>\n<\/div>\n\n\n\n

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Industry<\/h2>\n\n\n\n

Financial services<\/p>\n<\/div>\n\n\n\n

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Problem space<\/h2>\n\n\n\n

Employee engagement<\/p>\n<\/div>\n\n\n\n

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Services<\/h2>\n\n\n\n

Recognition<\/p>\n\n\n\n

Rewards<\/p>\n\n\n\n

Communications<\/p>\n<\/div>\n\n\n\n

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Technology<\/h2>\n\n\n\n

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Live your purpose<\/h2>\n\n\n\n

Most businesses understand the value of knowing \u201ctheir WHY\u201d and most leaders realize that having a clear purpose ignites passion, sharpens focus, and drives results. But over and over, we see companies leaving their real value on the table.<\/p>\n\n\n\n

When we started working with a large financial services company, we discovered they had a strong, inspiring statement of purpose: \u201cLighting the Way to Financial Well-Being.\u201d This company is passionate about helping clients, teammates and communities achieve financial confidence, with a personal touch.<\/p>\n\n\n\n

But they wanted to know if this passion was resonating with employees. Was it shaping their behavior? Was it producing results?<\/p>\n\n\n\n

To find out, we interviewed employees from different parts of the company and asked each one what \u201cLighting the Way to Financial Well-Being\u201d meant to them. Did they know this was the company\u2019s purpose? Did they know how to bring it to life in their day-to-day interactions? Was their performance being measured against it?<\/p>\n\n\n\n

What we found was a disconnect between the visionary purpose statement and the boots-on-the-ground work. Not everyone knew how to activate the company\u2019s purpose, so very few employees were. And without purpose, employees can feel disillusioned, distracted, bored, replaceable\u2014all the things that eventually lead to looking for a job somewhere else.<\/p>\n<\/div>\n<\/div>\n\n\n\n

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Ignite passion and sharpen focus<\/h2>\n\n\n\n

BIW proposed a recognition strategy that would put our client\u2019s purpose in the spotlight.<\/p>\n\n\n\n

The goal was two-fold:<\/p>\n\n\n\n