Conscious Capitalism is Changing How We Do Business

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Doing Well by Doing Good

Extensive research over the past several years has shown that purpose-driven companies have higher levels of innovation, profitability, and employee retention. The pandemic has accelerated consumer and employee expectations about the role of businesses in helping to create a healthier, more ethical, and equitable world.

The age of conscious capitalism is here. In 2019, 181 CEO's from the world's largest corporations signed a manifesto pledging to operate their businesses in a more socially responsible manner and acknowledging that companies need to have a purpose beyond profit. 

Consumers expect businesses to benefit society as well as stakeholders, and employees (especially Millennials and GenZ’s) want a greater sense of meaning and fulfillment in their work. When companies prioritize purpose it not only becomes an authentic differentiator but an intrinsic motivator for customers, investors, and employees.

Market Opportunity & Employee Engagement

  • 86% of people expect brands to “play their part in solving big challenges like climate change or social justice.”

  • Millennials will make up 75% of the workforce by 2025 and 75% say they would choose to work for a responsible company, even for less money.

  • Purpose-driven companies report 30% higher levels of innovation and outperform the market by 5%–7% per year. 

  • Purpose-driven companies had 40% higher levels of workforce retention compared to industry averages.

"MATURE COMPANIES FAIL BECAUSE THEY FORGET WHY THEY WERE BORN."
- Simon Sinek

Beyond the Why Statement

To Inspirada, a brand’s purpose is more than just a “why” statement. It is a narrative in the minds of your employees and your customers about how your company operates and lives in the world. Inspirada Creative works with marketing teams and diverse artists, speakers, and entrepreneurs to uncover or rediscover the passion that fuels them and help them articulate their purpose beyond profits.

By helping companies define and activate purpose, we’re able to amplify their positive impact, create a platform for diverse stories, ideas, and voices, and shape a narrative that redefines the way we do business.

From the Top-Down, and Inside-Out

Having a clear purpose starts at the CEO and leadership level and permeates throughout the organization.  That's why we begin every project with 1:1 interviews with leadership to uncover what drives them. From there, we’re able to start building a messaging framework that clearly articulates the brand’s mission, vision, values, and positioning. We then activate and integrate that purpose through authentic stories that inspire positive action at the individual, corporate, cultural, and societal levels.

"The link between purpose and profitability is present only if senior management has been successful in diffusing that sense of purpose further down in the organization, especially in middle management, and in providing strategic clarity throughout the organization on how to achieve that purpose." - Harvard Business Review, Aug. 2019

Consumers are more likely to trust, purchase from, and advocate for companies that align with their values and vision for the world. The age of conscious capitalism is well underway. Companies looking to increase retention, performance, and innovation among employees must create a culture that prioritizes purpose.

How will your company rise to the occasion?