What's interesting is that leaders from the Deloitte Global report are actually split on whether implementing socially conscious initiatives will improve the bottom line.
Now, if leaders aren't sure that positive social impact will bring home the bacon, why are they all jumping on the socially conscious bandwagon?
Let me go back to something IOOF CEO Renato Mota told me in a recent podcast episode
. He said: "Being a part of something greater than yourself is something people gravitate towards." He also talked about a powerful vision being one that "balances the analytical and numerical with purpose, belief and greater good".
I think Renato's points really encapsulates why purpose beyond profits can be so powerful - it can bring about genuine commitment and passion from your stakeholders, whether they're employees, customers or investors. And that can only lead to good things in the long run.