Money ! Money ! Money ! The obsession of all managers, company owners, speculators ! Profit & loss. The bottom line ! The obsession of all controllers and finance managers !
Profit is the driving force of the market economy. Some consider it as the final purpose of business and life. Some see it as a measurement tool of business and economy effectiveness. But whatever your opinion about it, times are changing. The P&L bottom line is no more the only one !
Look at the success stories of these last 20 years: Google, Facebook, AirBnB,… these businesses grew dramatically because their purpose was to bring new social models. The money making model followed. Actually, they made some years to make money. They looked at the second bottom line: the Societal bottom line. They introduced new paradigms changing people behaviors everywhere. A number of green companies are putting society first while making profit. B Corps for example, are for-profit companies certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency (https://www.bcorporation.net/what-are-b-corps)
Once these companies succeed , they also put employees first. They understood that, to keep employees loyal in a war for talent, they need to make their life at work happy and secure. Sometimes called “new paternalism”, this is also reinforcing the market and economic performance of corporations. They care for the Social bottom line. Read Richard Branson about it: http://www.inc.com/oscar-raymundo/richard-branson-companies-should-put-employees-first.html
Think about the triple bottom line like this:
- money is the consequence of business performance
- performance comes from innovation and employee engagement
- innovation comes out a strong motivation to change the society
- employee engagement leads to customer satisfaction, hence business performance
So, don’t loose a minute: Care for your triple bottom line NOW