A purpose that’s our purpose

But setting our purpose by getting to the bottom of why UBS exists as a firm today, and what our ambitions for the future are, was no small job. It took months of asking a lot of questions to a lot of people, of listening to their answers and of reflecting on the feedback. Only then could we come up with a purpose statement that reflects who we are and represents our aspirations.

Matthias Schacke, Head Talent and Recruiting, and Hasmita Mistry, Head Brand Strategy, told us more about the journey to becoming a purpose-driven organization. 

“Our purpose is a north star,” explained Matthias. “It stands for why we do what we do. It guides us in deploying our strategic priorities, and it helps us to decide where to grow and which opportunities to capture. Our purpose helps us and our clients to develop the future of UBS.”  

Having this direction sets out a clear path in front of us, as well as setting the firm apart from the crowd.

The demands of our employees, our clients, investors and society are changing and evolving. What matters to them more and more is that a company shares their values, is authentic, and focused on the value they provide on what matters most, now and in the future. 

Whereas Connecting is about enabling real and relevant connectivity with our clients from across the organization, Reimagining is about being forward thinking. The two parts of the UBS purpose statement work meaningfully as individual sentences, but equally together, showing powerful opportunities and unlocking the full potential of the organization.  

“It’s more than a statement, and certainly not a marketing slogan,” added Hasmita. “A purpose-led organization uses its purpose statement as a roadmap to keep it on the right path.”  

It’s more than a statement, and certainly not a marketing slogan.

A purpose holds us as individuals and as an organization accountable, authentic and reflective on our strengths and direction. But the only way for it to truly have an impact, and to achieve our vision to convene THE global ecosystem for investing – where thought leadership is impactful, people and ideas are connected, and opportunities are brought to life – is for everyone to embrace and live it, every day.

“Our purpose has to be present in each employee’s day-to-day work and be translated through into every decision we make, and across our entire chain and business practices,” said Hasmita. “Our clients, our investors and all of our stakeholders should feel the value in what they experience, and the difference our purpose makes to enhance the way our business runs and on timely decisions being made should be clear, too.“

“Finding our purpose was a journey of discovery. It’s not something that we created or pulled out of thin air. Every company has a reason for being, but it’s not always clearly identified, or articulated. And that’s what UBS had to do: find that reason, articulate it, and make it front and center, so we could tell employees, clients and the world why we do what we do, and ultimately, why it matters,” said Hasmita.

With only one shot to get it right, we dug deep making sure to look at all angles – from what we’re good at, to what our firm’s value and role is towards all our stakeholders, clients and in society. 

“A core team, together with more than 3,000 employees we called a ‘discovery squad’, who represented the diversity of UBS’s people, explored, listened and answered some of the fundamental questions,” explained Matthias. “We involved all employees throughout the journey, including members of the Group Executive Board and the Board of Directors, as well as thought leaders and clients. Themes including client centricity, our culture and three keys were frontrunners in discussions, and it became clear what was important to everyone.”

With the statement in place, thoughts turned to implementation and showing how the words work in practice. Becoming a purpose-led organization is a multi-year journey that will build confidence, empowerment and competence around our purpose – and success will come through taking people both inside and outside of the firm on the journey.

‘’Our purpose implementation program is keeping up the momentum over the coming years, with the goal of empowering our employees in a purpose-driven organization to drive our client promise, focus on the strategic imperatives and strengthen our culture,’’ said Matthias. “Ultimately, our purpose should be deeply embedded in our culture and leadership behaviors, making sure we create powerful business results from new products and services, deliver on the client experience and ensuring that UBS is globally recognized as one of the most attractive employers.’’ 

To help us fully embed our purpose, we have more than 600 purpose champions. They are viewed as role models and ambassadors showing the value of what happens when we talk, live and breathe purpose right across our firm. And, they help us roll out purpose-driven initiatives within the business and spot opportunities for growth.

“Shared values, as well as giving people space to connect in their own way with their purpose and the firms purpose, are important when it comes to linking the two,” said Hasmita. “Being authentic as a firm and as an individual is key to making sure this happens, and we need to help people connect to their individual purpose in areas where it might still be unclear to bring the best out of the workforce and client base.” 

Looking to the future, we’ll roll out leadership training, learning resources and support with personal purpose journeys to help people link their individual purpose to the UBS purpose. We’ll also look to identify processes and business models in which we can (and should) embed our purpose, with the goal of making more purpose-based decisions.

In time, and thanks to the efforts during the creation of the purpose statement, our purpose will become so obvious and such a part of who we are that there won’t be an option to hide from it. 

“It needs to be everywhere, but it doesn’t always have to be an explicit statement which people see,” said Matthias. “Over time, our purpose should come out naturally in the conversations we have with colleagues and clients.” 

Ultimately, our purpose should be deeply embedded in our culture and leadership behaviors, making sure we create powerful business results from new products and services, the client experience and that UBS is globally recognized as one of the most attractive employers.