Are you looking to differentiate your business in a crowded market? Do you want to attract and retain customers in the right way? Then you need to intentionally create a purpose-driven company that matches what buyers care about as they vote with their wallets.
Leading with purpose is about committing to environmental, social, and governance (ESG) alongside business objectives. Examples include:
- Environmental: carbon emissions, water and energy usage, waste generation, pollution levels, climate change risk, and biodiversity impact.
- Social: employee health and safety, diversity and inclusion, labor practices, human rights, and community relations.
- Governance: board composition, executive compensation, ethics and compliance, risk management, and shareholder rights.
Too often, company leaders think they must choose between focusing on corporate responsibility versus financial performance. Yet, “both/and” mindset is achievable and essential for long-term success. (Check out Both/And thinking to solve the toughest problems at scale on DoingCXRight podcast ep. 49.)