Purpose-driven companies must take action to ensure they’re living up to their commitments. Here are three things purpose-driven companies do to continue on their path to improve their triple bottom line. As a B Corp, Steelhead is consistently taking action to stay purpose driven. We’ve found that purpose-driven companies do three things consistently. They tie activities to values, they measure the right indicators and they engage each employee in their purpose.
Tie Activities and Values Together
Purpose-driven companies tie their activities directly to their values. Purpose-driven companies are often driven by ‘something more’ and this drives them to start thinking about business differently. Many purpose-driven companies already have core values or a mission statement that ties their business to a broader good, but, savvy companies use their existing values to power purpose-driven activities.
For Steelhead, company values play a role in everything we do. Steelhead values like “Service” and “Sustainability” directly impact our purpose-driven activities. Service leads directly to activities like Give Happy, while sustainability was a core reason we pursued B Corp certification. Companies with values can find activities that directly correlate to purpose-driven rationale. We recommend that companies use their mission statement or values as a starting point to figure out what their bigger purpose should be.
Track Purpose Driven Metrics
Purpose-driven companies track critical metrics and have standards for success. For Steelhead, we use the B Impact Assessment to measure our key performance indicators. We monitor diversity in our workforce, resources like energy and waste, as well as supplier engagement metrics. This helps us live up to our ethos and make sure we’re moving the needle on purpose-focused items.
Purpose-driven companies understand what they need to measure to start improving and making a significant impact. Regardless of industry, we believe that companies should be measuring employee engagement, retention, and diversity. Each company also has a role in managing global climate change. Measuring energy and other resources is the first step in making reductions.
Measurement can naturally sync with goals or other improvement milestones. We’ve found that by measuring consistently and making small strides, we’ve moved the needle in a big way.
Purpose-driven companies get each employee involved in sustainable practices. We understand that a purpose-driven ethos only works when it’s instilled by management and expected of employees. For example, at Steelhead, each Steelheader is held accountable for values and measured against purpose-driven activities. By incorporating values into regular employee activities and performance reviews, we ensure that our purpose-driven work is ingrained in everything we do.
Companies that preach purpose but don’t embed it in activities aren’t as successful in reaching goals or milestones. At Steelhead, all employees are trained in values and what it means to be a B Corp. Each employee understands how their job relates directly to certification and the steps they’re taking to keep Steelhead on its path to continuous improvement.
When companies live out their values, measure crucial indicators and engage employees, they can fully live out their purpose. Purpose-driven companies are unique in a capitalist-focused society. We believe that purpose-driven companies are the future and we’re proud to lead as one.