Now its Time To Redefine “Success” to include “Significance” by Focusing on People and Planet in addition to Profits.

These days, everyone’s trying to define “the new normal.”  We see it in business journals; we hear it in executive forums: How has the recession changed the rules of business? Have my customers’ expectations shifted?  Are my employees looking for jobs elsewhere? How can we avoid missteps from the past?

We’re faced with a choice. We can avoid, and hope things go back the way they were. We can adapt, which may only guarantee survival. Or we can innovate, and elevate the interconnected relationship between Profits, People and Planet.  As futurist Joel Barker said, “Our past success will guarantee nothing in the future.  We must challenge old rules and paradigms, and create a new path to the future.”

Up until now success was defined by profit, return on investment or market share. Recent studies from Gallup and IBM clearly show economic success, employee engagement, and community stewardship are interconnected to one another.  Notice these statistics on employee engagement, alone

•       Disengaged employees are twice as likely to experience depression & heart attacks as engaged employees.

•       People with quality friendships are 7 times more engaged in their work.

•       Total shareholder return is 20% higher in companies with high employee engagement versus companies with low engagement. 

Many are redefining success.  Profit is critical for every business—it is the fuel, which enables our companies to operate and grow.  A car needs fuel to run just like a business.  But does the car exist for gasoline?  No.  Nor do our businesses exist for profit.  The purpose of a business is to provide a product or service people need or want.

Consider what a growing number of companies are doing by focusing on profit AND two other worthy goal areas—People and Planet.  We propose incorporating this broader approach by using a “Triple Bottom Line ScorecardÔ” of Profits, People, and Planet.  When we redefine success to include the culture and well being of our employees, relationships with customers and vendors and our stewardship of our communities and planet, we build companies that create a significant, sustainable impact. What would it take for all of us to create such organizations of transformation, which produce meaningful work, sustainability, business and social responsibility and work-life balance?

Business, more so than any other social institution (religious, political, civic), is the driving force for advancing and evolving human behavior.  The Success to Significance (S2S) journey requires a willingness to change, openness to new ideas and models, commitment, discipline, and perseverance.  Once on this journey, we’ll develop new skills, inspire others, and create significant impacts with and for our people, customers, community, and the planet at large.  Together, we can take the new normal and build something successful and significant. 

Dean Newlund and Charles Tombazian will talk about Success to Significance and their Triple Bottom Line Scorecard strategies on October 5^th at Phoenix Score.  Dean can be reached through www.missionfacilitators.com