The world of business is changing, and that change is being driven by a fundamental shift in our expectations of the companies we buy from and work for.
There is a growing demand from society, business leaders and international governing bodies for businesses to fulfil a greater purpose in society.
Consider the following stats and their effect on the fundamentals of business success, which are attracting customers, motivating staff and attracting talent.
Some 84% of consumers believe that firms should do more for society (Ipsos Mori); 86% of workers believe it is important that their employer is responsible to society (Ipsos Mori); while 75% of millennials say they would take a pay cut to work for a more responsible company (Cone Millennial Cause Group).
The good news is that the UK business community is leading the way in delivering ‘Business for Good’.
This is something we should all be proud of. In my opinion there is no better example of this than the WildHearts GEL (Global Entrepreneurial Leaders) Summit.
Last month, hundreds of business leaders gathered at Barclays HQ in Canary Wharf to learn from global thought-leaders and to share their own experiences on how best to deliver positive social impact.
The GEL Summit was also watched by thousands of WildHearts customers and supporters globally via live stream.
The message of the GEL is simple yet profound; business has the talent, energy and resources to create ‘value’ in the widest sense. Value for stakeholders, staff and society. This is not a naïve wish; it is business critical.
Our changing attitudes and the pressing challenges the world faces present an existential threat to ‘business as usual’.
However, it also presents an equally significant opportunity. The brands that embrace it and find an authentic way to deliver wider value for the world will be the ones that thrive and remain relevant. What we now expect from businesses has changed and so too has what we demand from those who lead them.
Imagine a world where our most respected business leaders were creators of wealth in the widest sense; reducing poverty, championing social mobility, protecting the environment.
WildHearts Office customers create significant global social impact every year. Find out how your organisation could transform essential business supply overheads into local and global impact: https://t.co/kHkY27waxW
— WildHearts (@WildHeartsGroup) October 13, 2018
Imagine if, as a result, those leaders were also rewarded with commercial success in equal measure.
That is the future opportunity that leaders at the WildHearts GEL Summit gathered to embrace. It is that world, created by enlightened business leaders who hold themselves to a higher standard, that I want my young sons to grow up in.
To find out more about WildHearts and the Global Entrepreneurial Leaders Summit, visit wildheartsgroup.com.