Over the last few weeks, I’ve been sharing how we #measurewhatmatters at Prosper for Purpose. I’ve referenced our quadruple bottom line as people, planet, prosperity and purpose. This week, I write about prosperity.
I chose the word prosperity rather than profit, the term used by most other organizations, because profit is only one part of prosperity. At Prosper, we view the notion of prosperity as inclusive of health, happiness and economic stability — in other words, general well-being. Why? Because an economic-focused view of prosperity will inevitably compete with health and happiness.
Causal effects between economic prosperity, health and happiness have been studied and documented. One famous study that advances the holistic definition of prosperity to which we at Prosper subscribe is the Legatum Prosperity Index, an annual ranking of 142 countries, developed by the Legatum Institute. The ranking is based on a variety of factors including wealth, economic growth, education, health, personal well-being, and quality of life.
Surveys have shown that increases in income do not lead to increases in happiness.
For example, moving up the corporate ladder may lead to an increase in economic wealth, but the longer hours spent working may encroach upon time formerly devoted to exercise and family. In this way, economic success is potentially achieved at the expense of health and happiness. That is not how we want to be prosperous (does anyone?).
To ensure Prosper supports our team’s prosperity, each employee completed a personal development plan (PDP) this summer. The leadership team then reviewed the PDPs with each employee and made a commitment and a plan to move them forward.
Because we also care about our clients being prosperous, we measure that too. From our kick-off session through planning, ideation and implementation, we tie our milestones and measurables to the overarching goals of the organization. In other words, we’re not happy unless our clients are successful. We work by choice with purpose-driven clients in both the business and nonprofit sectors. This means that when our clients do well, their communities prosper.
Finally, we care about the prosperity of our company. We do well by doing good. And the more we prosper, the more good we can do.
Want to help us #domoregood? Tell your favorite Northeast Ohio charity about our new program, the 12 Months of Giving.