Here is another valuable Management Tip of the Day from Harvard Business Review. To sign up for a free subscription to any/all HBR newsletters, please click here.

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Struggling companies have a hard time keeping employees engaged because leaders are often more focused on cost-cutting and shifting strategy. But there’s a way to revitalize a business while simultaneously energizing its people: create a shared culture of purpose. When a company communicates its purpose (a pledge to do the right thing) and demonstrates a strong commitment to it, the company becomes a force for good and a creator of value for all stakeholders, especially employees. Think about any social initiatives you could pursue that align with your mission—something that would both inspire employees and improve results. For example, American Standard, the 136-year-old sanitation company, was able to get back on its feet after bankruptcy partly by launching a campaign to help combat disease in the developing world. By emphasizing your purpose, you can help your company by helping to build a better world.

Adapted from “A Company’s Good Deeds Can Energize Employees” by Christoph Lueneburger.

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