triple bottom line
In a business world that measures success by profit, a disruptive approach has slowly emerged. This approach embraces social and environmental factors along with economic ones. It is called a ‘triple bottom line’ and is built on a belief that I embraced when starting Prosper for Purpose–the belief that companies can do well and do good.
The triple bottom line philosophy holds that a company should combine traditional metrics of financial success with those that measure social and environmental impact. It is sometimes referred to as the 3P approach — People, Planet and Profit.
These three metrics are measurable and transparent; indeed, when our company became a Certified B Corporation earlier this year, we shared evidence of our metrics with B Lab, the company that provides the certification.
At Prosper for Purpose, we add a fourth component – Purpose. Less transparent and measurable than people, planet and profit, purpose is, for us, the thread that holds it all together.
Over the next four weeks, I will share how we approach our quadruple bottom line. This week, we look at People.
In addition to being the first component of our quadruple bottom line, People is Prosper’s very first value (you can see all our values here) because, as we say, if you’re not working with the right people, nothing else matters. This value is the lense through which we consider the clients and partners we work with and, perhaps most importantly, the people we invite to join #TeamProsper.
The first half of our mission statement is devoted to our team, “To grow a company dedicated to the development of our people.”
We look to hire incredibly talented people who also happen to be passionate about making a difference and believe that work is a great place to start. It’s that shared philosophy that inspires us to transcend traditional approaches, blending innovation into best practices and throwing in a generous dash of audacity.
This is our culture. Here are just a few of the programs it inspires:
The Prosper for Purpose Work/Life Integration Strategy:
- Our employees can work away from the office when they need to. This ‘need’ may arise from caring for children, travel, or needing a quiet space in which to write, plan or think.
- Team members stay home when they’re ill because sick time is given as needed. Those paid days off do not count against PTO.
- Speaking of PTO, ours starts at three weeks. We also throw in 10 holidays. All of this time out of office is paid for our full-timers.
Training and Personal Development: As a commitment to our value of lifelong learning, we provide ongoing training opportunities to all members of #TeamProsper. From association memberships to access to webinars and conferences, we are committed to the personal and professional growth of our team members.
Future Prosperity: We help employees save for their future through our Future Prosperity retirement program.
Parental Leave: A company that is truly committed to its employees must demonstrate commitment to their families. That is why we added a parental leave policy to our employee handbook earlier this year.
Purpose in Action: Prosper is committed to supporting activities that serve and enhance the communities in which we live and work. Therefore, employees are encouraged to become involved with local community service efforts. Each full-time employee is entitled to three days (24 hours) paid time off per year to volunteer their time to a nonprofit organization of their choice. Each part-time employee is entitled to 1 ½ days (12 hours) paid time off per year to volunteer.
In these ways and many others, Prosper fosters change that cultivates wellness and abundance through relationships rooted in shared vision.
I sought to create the company I wanted to work for. The result of that effort is the team of people I am grateful to work with.
In our next post we continue to #measurewhatmatters with Planet.
Think you might like to work at Prosper for Purpose? Go here for more information.