The good news is, it’s being talked about. Companies around the world are becoming more articulate about what drives them – beyond just profits. But, that’s also the bad news. The more businesses talk about purpose, the more it begins to sound like just another corporate buzzword – particularly if talk and actions don’t align.

Over my 28 years in professional services, I’ve had the privilege of seeing the best of the best up close. I believe exceptional organizations create a culture of purpose, and that requires three critical steps: Define. Communicate. Embed.

Define the organization’s purpose.
Businesses must understand the essence of why they exist and be able to clearly articulate it. These days it seems more companies are moving in this direction. According to a new report released by Deloitte’s U.S. member firm, Global Fortune 500 companies are increasingly integrating social impact into their business strategies, which I have no doubt will help drive their sense of purpose. I would just challenge these businesses to broaden their definition of impact to include not only the impact they make through corporate responsibility commitments, but also the impact on their clients and employees.

As far as the process for defining a purpose, it’s important to take an inclusive approach. Senior leaders should be soliciting input from across the organization to ensure they identify a purpose that’s credible for their company. The more it aligns with who they are and what they do, the more meaningful it will be.

Tell it, show it and don’t be afraid to repeat it.
Once a company has defined its purpose, it’s time to start talking about it… a lot. At any given moment, business professionals are being inundated with multiple messages vying for their attention. Give them a reason to tune into yours.

Tell the story – Showcase the business case for building a culture of purpose and give tangible ideas for how people within your organization can help bring it to life.

Tell it again – I never mind repeating myself, especially when it comes to important messages like purpose. Rarely does a message stick on the first go round – as I’ve learned only too well from my 11 year old son!

Show it – Words will only get you so far. It’s important to consistently share examples of what people are doing throughout the organization to live the purpose.

Lead by example – Assume purpose begins with you, whether you’re the CEO or it’s your first job after graduation.

Embed purpose into everything you do.
Ideally, every employee should be considering how he or she can bring purpose to every interaction. It’s critical to have a framework in place to encourage that behavior. One way is to incorporate purpose into employee performance plans and leadership appraisals. Is it an additional effort? Yes. Will it have an immediate impact on your bottom line? Probably not. But, when it comes to building a culture of purpose, it’s not only about direct ROI, it’s about the ripple effect.

I remember reading a letter in the midst of the banking crisis from a client who was involved with the difficult task of closing failing banks. The client praised a member of the Deloitte account team for his “humanity” when dealing with bank employees who had, in many cases, just lost their jobs. Not something measureable on the bottom line, but extremely impactful.

This story also highlights another important point about corporate purpose – it must be attributable. In the case of Deloitte, our purpose is to make an impact that matters. It’s a commitment we take seriously, but ultimately, our effectiveness depends on how our efforts are received. Making an impact that matters is something only others can attribute to us.

So, if you’ve been tuning out every time the word “purpose” comes up, I encourage you to tune back in and adjust your approach by defining, communicating and embedding.