After positive responses on earlier posts, here goes another! In this post you’ll find some thought starters and a concrete question to get in touch on one of our internal projects (called project Icarus) where we will need some help.
As some of you will know, our firm name, Purpose+, was derived from the idea that companies should embed both Purpose and Profit in the heart of their value chain. Why do we think this is necessary? Here are a few reasons:
- Doing good usually works well for a company’s bottom line. The majority of studies (53%) documenting CSR activities in firms show good a positive relationship to performance, only a few (5% show a negative correlation). More on this here.
- Large firms today typically have relatively low rates of people engagement, with estimates varying between 13-30% engaged. When it comes to increasing engagement levels, ‘post-materialistic’ aspects like ‘doing good’ (purpose) and experiencing positive states of being (well-being) at work seem critical. Feel free to contact us for more on this.
- Companies are more valued on ‘intangibles’ now than ever before. Where the value (S&P 500) of a company in 1975 was just 17% related to intangible assets, that number is estimated to be 80% today. Doing good, building something positive and having people believe in your mission has become more critical for survival. More on this here.
One of the most critical steps for Purpose+ in the coming year is to create a Purpose dashboard for organisations that aligns with the ‘world’s KPIs’. It’s aim is nothing less than simplifying the concept of ‘purpose’ for organisations globally, moving it from the abstract realm into the tangible realm.
My question to you is the following: if you know well-working examples of this – we would love to pick your brain on this, so you can help us design the ultimate dashboard and metrics.
My wishes for a thought-filled and productive day,