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People, Purpose, Planet & Profit: Sustainable Business

Matt Phelan | 6th August 2020

Today I was joined by Alex Edmans, Professor of Finance, London Business School and B Corp UK advocates Jenny Kitchen, CEO Yoyo & Galahad Clark, Founder Vivobarefoot to understand why more organisations are embracing a new sustainable model that places #people#purpose & our #planet alongside #profit

HERE’S MY KEY TAKEAWAYS

  • Purpose is not just an optional extra or a luxury, but is fundamental to a business’s long term success.
  • The evidence shows is that it pays to keep your employees happy, in good times and bad, and is equally important across all industries
  • Alex’s study of 28 years of data found that organisations with high levels of employee happiness outperform their peers by 2.3% to 3.8% per year in long-run stock returns – 89% to 184% cumulative – even after controlling for other factors that drive returns.
  • Moreover, the results suggest that it’s employee happiness that causes good performance, rather than good performance allowing a firm to invest in employee happiness.
  • The global pandemic is forcing everyone to rethink how they live their lives and it’s critical to remember that organisation’s who stick by their values will see the long-term benefits. 
  • The method of measuring a nation’s success purely based on GDP or an organisation purely by their profit is broken. Global and business leaders must embrace a new concept of conscious citizenship that places people, purpose and our planet alongside profit

WATCH ON CATCH UP

You can watch the full 40 minute session here.

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