Want to beat your competitors? Embrace profitable good

Phil-HaidBy Phillip Haid, Co-Founder and CEO of Public, Inc.

Deloitte recently came out with its annual Core Beliefs & Culture survey that polls more than 1,000 executives and employees. The key takeaway was that 82% of respondents working at an organization that has a strong sense of purpose believe the organization will grow. Only 48% of those working for companies without a sense of purpose are hopeful about growth prospects.

Given the strong belief in the connection between purpose and growth, why do so many companies still hold such a narrow definition of purpose? And why do so many still think in charitable terms, framing their community activities separately from their core money-making interests?

Because most companies still believe charitable activity should not be connected to bottom line growth and see it as unseemly to link social purpose and profit.

It’s time to get over that. The world has moved past charity to contemplate more meaningful metrics around social impact. And perhaps most importantly, it no longer makes sense to separate profit and purpose.

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