It may seem difficult to quantify a company’s purpose, but it is not impossible.
The 2022 Purpose Power Index is here, pointing to the 100 most purposeful companies currently operating in the US. The index is published by the marketing and advertising agency StrawberryFrog and first-party data company Dynata and is the result of a survey of the US general population, which looked at more than 200 companies in 50 industries. The index measures a number of different elements of any company: commitment to a purpose beyond profit, improving lives and creating a better society and world, not just for shareholders. This is the third year that the Purpose Power Index ranks companies on these characteristics.
The top companies that made it to this year’s Power Purpose 100 will probably sound familiar to you: Unilever-owned eco-friendly cleaning company Seventh Generation, again, took first place after taking home the top prize last year. The charitable shoe company Toms also finished in second place for the second year in a row. Toms’ placement on this list is somewhat of a surprise, as visionary founder Blake Mycoskie lost control of the company and was forced to sell to creditors in 2019.
Compared to previous indices, this year’s top 20 includes more mainstream, multi-billion dollar companies. This year, 10 companies are new to the top 20 in the Purpose Power Index, including Pfizer, Patagonia and Zoom.
The purpose of a company is not only important for altruistic reasons; as Dynata CEO Gary S. Laben noted during the 2022 Purpose Power announcement during: businesstraverse.com.The Goal of Power Summit 2022 Live Streaming Event on Tuesdays, a sense of purpose also creates economic benefits. Dynata’s audience modeling tool found that 85 million American consumers are motivated by the company’s goal of purchasing goods and services — and 149 million would choose to boycott a company based on its sociopolitical stance on issues. Not only that, but targeting can also help a company attract and retain talent, Scott Goodson, CEO and founder of StrawberryFrog, wrote to businesstraverse.com in February.
It’s clear that the American public is interested in where companies stand – and here’s the top 20 that they believe really make a difference.
