As Generation Z begins to populate workforces, employers will need to pay closer attention to the manner in which they position themselves to the world’s first truly digital native generation of employees. Estimated to currently account for 32% of the global population, this is a generation that values factors such as corporate culture, workplace inclusivity and job security as much as an attractive pay cheque. For employers, and especially for startups, it has never been more critical to articulate vision and mission statements that resonate with these future workforces.
An organisation’s vision and mission statements articulate its purposes, goals and values. “As human beings, it’s in our nature to want to be part of something big. Compelling vision and mission statements articulate how employees… can contribute to that purpose,” says leadership coach and mentor Farzana Suri. A vision statement sets down the organisation’s long-term goals, typically over a 5-10 year period. “A mission statement explains how you will achieve the why; why you are different,” says corporate trainer Greeshma Thampi.
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From General Electric and Microsoft in the US to Tata Sons and Infosys in India, compelling vision and mission statements have played a central role in how these organisations have been received by generations of employees. If well articulated, vision and mission statements have the power to dictate the quality of people an organisation attracts and, importantly, the reputation it builds with multiple stakeholders from customers and shareholders to present and future employees. It follows, therefore, that vision and mission statements should be formed and articulated as early as possible in the life of a company – a factor that many startups often neglect.
Most importantly, they must be defined democratically by the leaders, who will then be the people executing them. At Coastr, the founding team spent a day with our key advisors to develop our vision and mission statements. These were then repeatedly communicated and cascaded down to the wider team. They are also discussed and reviewed periodically to ensure they are still relevant to the direction of the business, as startups can often pivot in their journey- Biswajit Kundu Roy, CEO, Coastr
“For a startup, your first hires will be the people who grow with the company. If your first hires do not believe in your vision, it will inevitably result in friction. Also, these are the individuals who will help shape the company’s culture in the early days and will be critical to setting the right tone of leadership as you scale. At Coastr, I worked very hard quite early on with the founding team to not only establish our vision and mission statements but also what our cultural values would be. These statements then became the framework for us to assess cultural alignment when recruiting new people,” says Biswajit Kundu Roy, CEO of Coastr, a cloud-based vehicle management platform for small car rental companies.
This is particularly pertinent for Generation Z employees, who are entering the workforce in the wake of the Covid-19 pandemic. Large-scale salary cuts and layoffs became par for the course during the pandemic and continue to affect several sectors, especially new-age sectors that are dominated by startups. Unlike millennials, Generation Z employees are therefore much more focused on job security, steering them towards larger/ established organisations where employee welfare is an intrinsic part of their vision and mission.
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“An organisation’s vision and mission go beyond mere words… It gives the organisation a roadmap in terms of growth and expansion. Research has found that employees are more engaged with the organisation when they are aligned to the vision and that they will go the extra mile if they are able to connect with the purpose,” says Thampi. She cites Amazon, one of the world’s largest employers, which has 14 core leadership principles that are used to make hiring decisions. Topping that list are qualities such as customer obsession, ownership and the ability to invent and simplify.
Vision and mission statements are very personal to the organisation in question and often require a few iterations, Coastr’s Roy says. “Most importantly, they must be defined democratically by the leaders, who will then be the people executing them. At Coastr, the founding team spent a day with our key advisors to develop our vision and mission statements. These were then repeatedly communicated and cascaded down to the wider team. They are also discussed and reviewed periodically to ensure they are still relevant to the direction of the business, as startups can often pivot in their journey,” he adds. Coastr’s initial vision was to ‘redefine the car rental experience’. The Scottish company’s vision has since evolved to ‘decarbonise the mobility industry by enabling shared mobility’.
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Suri has created a simple acronym that she believes encapsulates the ideation process – HEART. “The statements must be Humble, Empathetic, Adaptable, Remarkable, and indicate Transparency. Avoid being too generic; rather, think of what you are doing differently and what value you are truly bringing to the table. Importantly, make sure your vision and mission statements answer these three questions – what are you doing? Who are you selling to? Why are you doing this?” she says. She explains that this exercise will help you create strong vision and mission statements that resonate with existing and potential hires.
An organisation’s vision and mission go beyond mere words… It gives the organisation a roadmap in terms of growth and expansion. Research has found that employees are more engaged with the organisation when they are aligned with the vision and that they will go the extra mile if they are able to connect with the purpose- Corporate Trainer Greeshma Thampi
Thampi offers another approach, in the form of Simon Sinek’s Golden Circle Theory. She says that most successful companies think beyond the immediate benefits of their products and services. In fact, instead of explaining what they offer to their customers, the real game-changers begin by examining the how and the why of their business. And so, the first question businesses should be asking themselves is ‘why’ they exist, followed by ‘how’ they intend to achieve their objective. This, in turn, will clarify ‘what’ the organisation creates, in terms of its products and services. Following this model, Thampi says, ensures consistency in the brand’s messaging, gives clear direction in terms of its growth and evolution and also helps the organisation to stand out from its competitors.
Experts agree that while drafting strong vision and mission statements is important, it is only half the job done. To truly create their desired impact, these must be disseminated across the organisation – from the corner office to the person manning the reception desk, as Suri puts it. “An organisation’s vision, mission and cultural values have to be repeated many times before they become embedded. Establishing a well-defined performance management process is key to embedding your company objectives and, thereby, your vision for the company,” says Roy.
