Purpose Through Profits
Why would a company encourage its employees to give their time and skills to the community for free? Because they believe in the connection between engaging with the community and gaining a business advantage. While the process may be more indirect, this concept of using available resources and profits to benefit the greater community, also known as the Double Bottom Line, is gaining increasing traction. Companies across the nation are realizing the tangible and intangible benefits of embracing it and using the Double Bottom Line to improve life for employees, the areas in which they live and work, and the business.
The Double Bottom Line, commonly shortened to DBL, is a method of measuring a company’s financial and social success. It starts with the conventional bottom line, or the final sum at the end of a balance sheet measuring a company’s profits and losses. Companies who embrace the Double Bottom Line use the profits to achieve a greater social and community purpose, which is measured in the second bottom line.
Like any business, the goal is to make a profit. But by guiding the company so it behaves responsibly and with intentionality, businesses are reaping positive tangible and intangible returns.