When Ellen Kullman, chief executive of DuPont, asked a contract worker on the production line making Kevlar, the fibre used in bulletproof vests, what he was doing, she got an unexpected response: “We’re saving lives.”
The comment underlined her conviction that a sense of purpose was far more effective at hiring, motivating and keeping staff than any corporate brand, vision or mission statement.
She was not the only chief executive at the World Economic Forum last week to use the term “purpose”, as business slowly battles to restore public trust. In making any company more resilient, “the most important thing is to focus on purpose,” said Brian Moynihan, who is wrestling Bank of America into post-crisis shape. “You have to be a purpose-driven organisation,” added Mark Weinberger, head of EY, one of the Big Four professional services groups.