We are living in uncertain times. Now, more than ever, companies are hyper-focused on catalyzing and sustaining growth. Growth that is usually translated ultimately in numbers hit, and triggered by the strategic plans strenuously put into place. But this may well be a time wherein “purpose” may prove to be just as essential. Why?
It has been said that purpose-driven employees are your strongest brand ambassadors. They believe that their job matters and their work would make a difference in the world. Purpose builds inspiration, instigates pride, fuels creativity, and anchors employees to actively and happily engage for the good of a common goal. And who doesn’t want motivated employees in synergy?
Thankfully, organizations are starting to put purpose back in the forefront.
The Purpose Pot – Walking the Talk
While the intent is very much there, the biggest struggle for most organizations is to find resources for passion projects they would want to commit to. At times, this proves to even be the deterrent, and sadly, plans are set aside and eventually, even forgotten. But not for us at LIVESciences. We have taken the road less traveled, beyond discussions and decided to intentionally and collectively establish our “Purpose Pot.”
How does that work in practice? Simply put, We have agreed to fill the “pot” with a percentage of our annual profits. Funds raised are then allocated to projects that have gained mutual consent amongst members to act upon.
To which initiatives does the “Pot” go?
As inclusiveness is encouraged, anyone can propose where investments can be allocated, but should be well explained and should thoroughly expound the what, why, and how behind it.
What – What is the initiative? What is the change you would want to make?
Why – Why does the world need this project – what is the value it generates and for whom ? What problem is it solving? What opportunity is it offering? Why is it personally important to you? Why is it important for the company? What does it have to do with our company’s purpose? Where do you see an alignment with the criteria we defined as important for us for a purpose project?
How – How can this idea grow? Into what? Who else might be interested in this idea and why? Who else is doing it and how – potential competition and collaborations/synergies?
Acquiring the unanimous decision of all participants may prove to be challenging, as purpose may have a subjective definition. But the conversations made during the evaluation and selection stage, also act as a platform for the team to discover more about ourselves, individually and collectively, and LIVEsciences as a whole. It helps us to realign subconsciously, time and time again, with the bigger vision to catalyze the movements of life.
Some criterias we have set for ourselves in determining how we allocate our purpose funds: