Profit with a Purpose

Guest Blog – Patricia Glaser Shea of Givful

Employees expect profit with a purpose.

Making a profit is essential for any business that wants to survive. Now, I know what you’re thinking: “Tell me something I don’t know.” But if you’re reading this, you are most likely already immersed in the ever-growing world of corporate social responsibility (CSR). You might be aware of the significant shift in the for-profit world, fueled squarely by employee expectations. A change from focusing solely on a paycheck to the inclusion of a purpose. From an annual review to ongoing conversations. From my 9-to-5 job to the purpose of one’s life’s work.

As Simon Sinek said, “People don’t buy what you do, they buy why you do it. And what you do reflects what you believe.” Consumers want to purchase from brands that align with their values. The same is true of employees. Now more than ever, employees expect their company to invest in the bigger picture, one that includes social good.

Studies show millennials, now the most significant percentage of the workforce, care as much about purpose as they do their paychecks or a company’s profitability. Consumers and employees alike are looking for organizations that provide transparency with brand values and social stances.

How does an organization create a purpose-driven strategy, especially for a for-profit business? Companies may choose to take on formal programs, such as aligning business strategies with Sustainable Development Goals (SDGs). Another approach that many organizations are embracing is bringing meaning to work through shared volunteerism and philanthropy. Technology solutions, such as Givful.com, make it easy for companies to implement a dual-purpose platform that caters to open-choice giving and volunteering while driving home company values.