At the beginning of July, I taught my last class of the academic year. For this group of students, this was their last class before graduating and, for many, the final university lecture they would attend. Under normal circumstances, the last lecture would be filled with excitement and anticipation about the future. But the Covid-19 pandemic has significantly reset expectations. For many young people, employment prospects are challenging, inequality more pronounced and social connections that form the basis of emotional and mental strength significantly atrophied. Hope has been replaced by angst, uncertainty and worry about the future. As the pandemic has extended from months to years, its impact is often reduced to a collection of statistics – number of infections, vaccinations rates, death toll and so on. These numbers provide only a partial snapshot of the pandemic’s impact. It will be years before we understand the full magnitude of how it has affected us physically, emotionally, economically and mentally, and the toll on our young people is especially worrying. Even before the pandemic, many of our young people were not doing well . In a 2016 survey that included university students in Hong Kong, Macau and mainland China, researchers reported that the overall prevalence of depression in their sample was 28.9 per cent. The prevalence of depression, however, increased to 41 per cent when considering only university students in Hong Kong, significantly higher than their peers in Macau or mainland China. Unfortunately, these numbers were not surprising to me as I have witnessed such pessimism when interacting with my own students. Much of this pessimism is shaped by the competitive environment young people have faced most of their lives. From primary school, they are encouraged to study diligently to attend a reputable secondary school . In secondary school, they are exhorted to study even more diligently to enter an elite university, which is characterised as a gateway to good employment and a bright future. The job market is incredibly competitive. On average, entry-level wages for university graduates in Hong Kong are slumping. Furthermore, given the high cost of Hong Kong housing, unless a young person receives assistance from their family, decades of savings are required to afford a down payment on a home. Competition has increased, but for most the prospects of a better life have not. Students have been told to delay gratification for the expectation of a brighter future that grows increasingly distant . Consequently, past and present sacrifices decrease in value as the deferred future looks less attractive. From university admissions to employment to housing, many aspects of the unfolding present have become much more competitive but not necessarily fairer. Thus, for many young people, dissatisfaction about the past and worry about the future results in increased pessimism and worse mental health in the present. The pandemic has prompted significant reflection for individuals and organisations. Even before the pandemic, there was significant debate about the purpose of business beyond solely maximising profits. Increasingly, there is a push for businesses to focus on purpose as well as profit and stakeholders rather than just shareholders. The pandemic has clearly demonstrated that complex, global problems such as a health crisis, climate change or severe inequality cannot be addressed by any single government. Such issues, all of which affect the future of our young people, require the public and private sectors to work together. Re-evaluating the purpose of business, however, is only part of the solution to provide hope for young people. There also needs to be a concerted effort to provide meaningful work . Research has shown that when individuals feel purpose in what they do, they have higher rates of satisfaction and motivation. German philosopher Immanuel Kant understood this concept centuries ago. He wrote: “Life is the faculty of spontaneous activity, the awareness of all our human powers. Occupation gives us this awareness. ... Without occupation man cannot live happily.” We have an obligation to put forth rationales and business models that move us beyond focusing only on profit so we can craft a better life for future generations. In the past few years, I have been grateful to work with some of the world’s leading organisations as they consider how to cultivate deeper purpose and align that with employees’ individual purpose to create more meaning at work. These engagements are not motivated by misguided idealism as organisations realise doing this makes good business sense. There is increasing evidence that focusing on purpose beyond profit allows organisations to attract and retain talent, develop deeper relationships with customers, provide more meaningful work and deliver superior performance in the long run. A recent Edelman survey found that more people trusted their employer to do the right thing than NGOs, government and the media. Business now serves a critical role in fostering hope and opportunity for society, especially for the future of our young people. As philosopher David Gauthier once wrote, “an essentially just society must be strengthened through the development of the affection and interests of the young”. As we emerge from the pandemic, we must not assume that returning to pre-pandemic life is the goal. Instead, using the lessons of the pandemic, our shared business of hope is to create an aspirational future that is more just and meaningful for the next generation. David S. Lee is a principal lecturer at the University of Hong Kong Business School and the first business academic to receive a University Grants Committee Teaching Award, the highest university teaching honour in Hong Kong