According to new research, only 52% of top law firms and 44% of leading accountancy firms have established purpose statements, and even fewer manage to implement them effectively.

The ‘Missing Point of Purpose’ study by consultancy Bright Space Communications reveals that only 26% of accountancy firms and 28% of law firms with purpose statements incorporate them into their stakeholder communications. This finding follows separate research showing that many firms fail to clearly articulate their purpose on their websites.

Of firms with a defined purpose, only 9% successfully integrate this across the organisation. “These findings reveal a critical gap in how professional services firms approach purpose,” says Ingrid Brown, principal at Bright Space Communications. “While many recognise the importance of having a purpose statement, most struggle to translate this into meaningful narratives that guide operations and resonate with stakeholders.

Further findings reveal that although 66% of law firms and 42% of accountancy firms have developed ESG strategies, many of these fail to align with their stated purpose. Brown continues: “This represents a significant missed opportunity in an era where corporate clients increasingly demand alignment with their own ESG commitments and talent seeks meaning beyond compensation.”