You attract the best people, ones that are motivated by your mission. That means an engaged workforce. People are inspired to perform above and beyond, to bring themselves more fully into their work. Fulfilling work, where we spend so much of our days, helps us have a fulfilling life.
You reduce the churn of employee departures. You avoid money and knowledge lost due to increased turnover and the loss of valued employees It’s a renewing wheel where you retain valuable employees in the older age range with their wealth of experience and promising young performers too, and bring in even more engaged people into your workforce, and potentially even new customers as engaged employees become brand ambassadors.
You thrive with a higher purpose. What helps you get through those challenging times is a bigger picture, a greater contribution that you are willing to make. So you move through obstacles more easily, you stay motivated to move through them, and you don’t waste a lot of time and energy wishing things were different.
You avoid commoditization. For people aligned with your vision of impact, a purchase from your company becomes a moral and ethical decision, not just a cost comparison.
When you don’t invest in impact, you remain trapped in the profit economy, which is dying along with the companies in it, at a faster and faster rate. A move to the impact economy, with a pivot in your company to focus on impact, helps you be sustainable.
You nurture a company culture that helps people flourish. We all want to contribute to something bigger than ourselves. We don’t want to just be a cog in a wheel that churns out products and services. We want to know that what we do matters. With impact in mind, we elevate day-to-day work to this enhanced level of contribution and creativity. We work together to achieve that.
You create value for all stakeholders. This happens at multiple levels: financial, employees, suppliers, investors, and your community.
Your company has enhanced market valuation. Your financial performance is directly related to impact. Even if you’re not building to sell, increased market valuation can give you leverage with investors.