Valerie Keller and Cheryl Grise of the newly-formed EY Beacon Institute stopped by HuffPost Live at Davos on Saturday to talk about the need for purpose in the workplace.
Grise said millennials entering the workforce today are "looking for more than creating products and services, they're looking for creating products and services for well-being."
"It's about a sense of meaning, too, like, 'what I do matters every day,'" Keller added.
Grise and Keller said a sense of purpose can transform a company, and transformation leads to more success.
"Today you can't stop transforming, you can't. You won't survive in today's environment," Grise said.
Based on their research, Keller and Grise said companies should aim to transform by evaluating their purpose and looking to their employees.
"Can they understand [they're purpose]? Can they articulate it?" Grise said.
Keller said she is seeing more mission statements that don't aim to describe what a company does, but why a company does what it does.
"It can't just be a tag line," Grise said. "You have to really live it."
Below, live updates from the 2015 Davos Annual Meeting: