Key Takeaways
Over 90% of businesses with well-defined mission statements achieve growth and profits that meet or surpass their industry’s average.
In organizations with robust mission statements, 63% of staff feel motivated, in contrast to just 31% in companies without such statements.
Millennials are 5.3 times more likely to remain with an employer if they feel a profound connection to the company’s mission and purpose.
A mere 28% of survey participants feel a deep connection to their company’s purpose, indicating a significant engagement gap.
Among Fortune 500 companies, 36% prominently feature either ‘customer’ or ‘customers’ in their mission statements.
General Mission Statement Statistics
Over 90% of businesses with well-defined mission statements achieve growth and profits that meet or surpass their industry’s average.
In organizations with robust mission statements, 63% of staff feel motivated, in contrast to just 31% in companies without such statements.
Furthermore, 65% of employees at firms with strong mission statements express a passion for their work, compared to only 32% at other workplaces.
84% of millennials prioritize finding meaning in their daily work, and 83% of Gen Z carefully weigh a company’s mission before applying for a job.
A mere 28% of survey participants feel a deep connection to their company’s purpose, highlighting a significant engagement gap.
Millennials are 5.3 times more likely to remain with an employer if they feel a profound connection to the company’s mission and purpose.
For non-millennials, the likelihood of staying with a company increases by 2.3 times when they are strongly connected to the employer’s mission and purpose.
Fortune 500 Mission Statements Stats
36% of Fortune 500 companies, numbering 182, prominently feature either ‘customer’ or ‘customers’ in their mission statements.
The term ‘people’, which is often synonymous with ‘customers’ in these cases, appears 76 times across the mission statements, making up 15% of them.
This indicates that a total of 258 Fortune 500 companies, or just over 51%, explicitly refer to their customers in their mission statements.
The concept of ‘value’, in the sense of providing it, is mentioned by 88 of these corporations, representing 14% of the Fortune 500.
A mere 16 companies, amounting to only 3.2%, incorporate their company values directly into their mission statements.
The term ‘quality’ is used by 68 companies (or 13.2%), with a notable 7 opting for the phrase ‘high-quality’.
‘Solution’ or ‘solutions’ find a place in the mission statements of 63 different companies, which accounts for 12.6% of the Fortune 500.
The words ‘financial’ or ‘financially’ are chosen by 48 companies for their mission statements, making up 9.6% of the group.
‘Service’ or ‘services’ are terms used by 125 companies, capturing 25% of Fortune 500 companies’ mission statements.
An additional 94 companies, or 18.8%, include ‘product’ or ‘products’ in their mission statements.
Summing up, there are 219 companies in the Fortune 500 that mention their products and services, which is 43.8% of the total.
To project a global presence, 96 companies, or 19.2%, use terms like ‘world’, ‘world-wide’, or ‘world-class’ in their mission statements.
Law Firm Mission Statement Statistics
94% of law practices specifically highlight their client focus in their mission statements, demonstrating a strong client-oriented approach.
Within the 94% of client-mentioning law firms, 88% opt for the term ‘client’, while 6% prefer ‘people’.
41% of law practices include their complete name in their mission statements, with a further 2% choosing a shortened version of their name.
20% of legal firms make a point of including a specific geographical location in their mission statements, be it a city, state, or country.
Additionally, 14% use terms like ‘community’ or ‘communities’, highlighting their commitment to particular regions or locales.
A mere 4% of legal firms incorporate the word ‘justice’ into their mission statements.
Just 6% of law firms reference their service costs in their mission statements, suggesting affordability or cost-effectiveness.
19% of law firms underscore the caliber of their services, often using phrases like ‘high’, ‘highest’, or ‘top’ quality in their mission statements.
A focused 10% of law firms promise ‘results’, indicating their dedication to their clients’ objectives.
Over half, 54%, of law practices use the term ‘legal’, followed immediately by words like services, counsel, representation, guidance, needs, expertise, skills, or advice.
School Mission Statements Statistics
In 35% of school mission statements analyzed, terms such as ‘learn’, ‘leaning’, or ‘learners’ are prominently featured.
Approximately 23% of mission statements include variants of ‘develop’, like ‘development’ or ‘developing’.
Words related to intellect, namely ‘intellectual’, ‘intellect’, or ‘intellectually’, are found in 9% of the mission statements reviewed.
A focus on the emotional aspect is evident in 5% of statements, where the word ’emotional’ is specifically used.
The concept of growth, denoted by ‘grow’ or ‘growth’, is highlighted in 6% of the analyzed statements.
Terms signifying success – ‘success’, ‘successful’, or ‘successfully’ – are noted in 13% of mission statements.
The terms ‘student’ or ‘students’ hold a prominent place, appearing in 39% of the school mission statements analyzed.
The notion of ‘potential’ finds its way into 9% of the statements.
References to academia, using words like ‘academic’, ‘academics’, or ‘academy’, are seen in 19% of the statements.
Creativity, indicated by the word ‘creative’, is mentioned in 8% of the analyzed mission statements.
The term ‘knowledge’ makes an appearance in 7% of the school mission statements.
The concepts of responsibility, using ‘responsible’ or ‘responsibility’, are mentioned in 15% of the time.
The word ‘environment’ is included in 25% of the analyzed statements.
Leadership qualities, referred to as ‘leaders’ or ‘leadership’, are highlighted in 13% of the statements.
Sources:
- Harvard Business Review
- PWC
- Original Research