This is another in our series of guest blogs, this one is written by Paul Dodd, the founder of ALLGOOD branding agency.
Can you imagine having a company that people LOVE working for and our proud to be a part of?
A company that cares about its impact on the environment, that is committed to sustainability and helping to save the planet. A company that treats people with respect and engenders a culture of personal development and fulfilment.
This is a place that puts sustainable issues at the heart of it’s culture.
A workplace that truly cares about its affect on the planet, its carbon footprint and its dedication to a circular economy. One that communicates deeply to every employee how they can personally have an impact. Even going so far as to incentivise action outside of work.
These brands typically have a lower rate of staff turnover, a happier workforce and they are a beacon of light attracting new talent more easily than their competitors who only focus on profits. In particular the millennial workforce who are well documented to be looking to work for this type of company.
The rise of The Triple Bottom Line.
This is a new era for business.
The industrial age ushered in a complete system of work and education that put profits above everything else. All that mattered was growth, at any cost. Even human life.
Then climate change started happening. And things had to change.
In 1997 John Elkington coined the phrase ‘Triple Bottom Line’ as a dedication to sustainability in business beyond just profits. It’s a bottom line that measures profit, but also measures the organisation’s impact on people and planet. The phrase is a simple way of expressing a brand’s vision and mission to something bigger than money.
Let’s look at Three Ps of The Triple Bottom Line
People
What impact are you having on the people involved in your organisation? How do you treat employees, their families, your suppliers or your clients? A company that is dedicated to the Triple Bottom Line has systems in place that promote equality, fairness, wellbeing, health and opportunities for growth. Your impact along your supply chain is also important, as we’ve seen from the child labour exploitation stories of the past. Some innovative companies around the world are testing out creative ideas such as 6 hour work days, extra holiday days for non-smokers, extra perks for choosing green energy at home and free gym memberships.
Planet
Sustainability is at the heart of a Triple Bottom Line company. They have an unwavering mission to help save the planet and measure the impact they are having. The race to being Zero Carbon or Carbon Neutral is having a positive impact on many companies who are seeing actual growth in profits due to their commitment, rather than the negative impact that is often expected. ‘Being green’ is a company-wide thing that every employee can get behind, from the energy purchasing to the procurement of services, everything has an effect on your carbon footprint. Imagine if every company in the world had this as their primary driver?
Profits
Every company has profits as their ‘bottom line’. But new research is showing huge growth for companies dedicated to sustainability. Going green means more investment opportunities from ‘green investment funds’, a competitive advantage as customers now seek to choose their suppliers based on their green credentials and a more attractive brand in terms of recruitment.
If you haven’t considered your Triple Bottom Line, now is the time to start.
If you would like any further information, please contact Paul Dodd, from ALLGOOD. A company on a mission to use branding for the power of good. Check out their Do Gooder pledge on their website www.allgood.tv or call 0113 8232883.