When we think about measuring our health, we know that it is always sensible to look at several indicators or factors. By understanding the whole system, we can tell how well or not our bodies are functioning.
The same is true for companies. How they generate value is much broader than financial or budgetary performance. To successfully manage reputation, some companies look past shorter-term incremental results and hold themselves accountable for describing the impact they make across a Triple Bottom Line.
The concept of a Triple Bottom Line is certainly not new. It is a way of measuring impact beyond just profit. It includes the effects on society, individuals and our planet. It is considered by many, including Warren Buffet, as being fundamental to measuring overall performance and creating a character beyond worshipping at the altar of money.
We all intuitively understand the value of good health, but those who need more data only need to look at the available research. The Human Capital Institute and McKinsey have studied the characteristics that make some businesses more successful than others.
The qualities that make up High Performing Systems (HPOs) and the Organisational Health Index (OHI) demonstrate that the returns are clear and significant. With improvements of between 59% – 73% EBITDA and 21% yearly growth rate, the facts back up the intuitive understanding we all have about the power of good health.
However, with all the volatility and ambiguity surrounding us, it’s not easy to navigate ‘the how’ of making a positive difference. Many organisations don’t have the time or deep pockets for large consulting projects.
It is why we at Be Future Ready Today are dedicating ourselves to empowering ‘the how’ and simplifying our World of Work. By applying our formula of outlier expertise + cognitive and behavioural science + self-enabling toolkits, we help leaders and practitioners empower internal capabilities by making ‘the how’ possible.
Aligning everything we do with the triple bottom line means we move beyond what some may consider fluffy or sentimental. We combine fact with intuition and the essential ingredient of accountability for those who are motivated by something more significant than personal ambition.
Our Organisational Health Scan provides a solid foundation and rigour for clearly understanding the current state. Like the human equivalent of a Cat Scan, it allows internal groups to evaluate their system quickly and effectively by identifying real risks, blockages, and prospects. Meaning they gain control of today and feel confident about connecting the business results to future success.
For some, it may seem idealist in a world that can emphasise profit or money over purpose. The companies whose leaders have the resolve have shown that doing well by doing good is entirely possible.
Contact us for more information on how we can help you improve your Triple Bottom Line.