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A fullled employee—one who feels they are helping address soci- etal issues—tends to bring more to the ofce or shop oor in terms of productivity and creativity. "Many employees—and not just millennials—want more than just a paycheque," Schaafsma says. Relationships with stake- holders also can be enhanced through social purpose, creating advocates for a business or brand, generating loyalty and fostering new partnership opportunities. Social purpose also builds social capital. Communities with strong social bonds are healthier and companies that contribute to community health also create "a strong ripple effect for this busi- ness," Schaafsma says. Then there's enhanced nancial performance. A 2015 study by the Harvard Business Review demonstrated that over a three-year period 42 per cent of non-purpose led companies showed a drop in revenue versus 58 per cent of purpose-led companies that showed positive growth. And along with improved nancial performance, companies that build the trust that inevitably ows from a corporate culture grounded in social purpose enjoy easier access and often lower costs of capital. "That was surprising me but we are seeing more and more investors looking for companies that embody social purpose," Schaafsma says. Another less obvious benet of social purpose is its tendency to inspire innovation. As UWLM articulates in its business case: "Social purpose sets the param- eters on how a company wishes to operate and grow, which encour- ages staff to be innovative and think outside the box to realize those broader aims." But how does a company get from A to B, from a philosophy focused on prot and shareholder return to one of social purpose that not only builds a stronger company, but also better engages employees, the community, s takeholders and partners in addressing society's social and environmental challenges? It starts with deciding to make a corporate shift followed by education and training across the company and identifying what your social purpose is. "Mak- ing this shift doesn't happen overnight. It takes leadership, commitment and support." Last June, UWLM signed a memoran- dum of understanding with the City of Vancouver that is aimed at engaging local governments to mobilize businesses to embrace social purpose within their jurisdictions. "As the City of Vancouver grows and attracts more busi- ness—including head ofces and startups, we strive to evolve and strategize to embed social purpose from the start. We are working to build in a sense of responsibility and work toward building resilient communities. If a community is thriving, we all thrive," said Sadhu Johnston, city manager, City of Vancouver. Schaafsma is excited about the role UWLM is playing in shifting businesses toward social purpose, and sees the potential for new solutions to social issues that have evaded answers so far. "And this isn't just altruism, it's also good for business," Schaafsma says. ■ Interested in learning more? Contact socialpurpose@uwlm.ca Created by BCBusiness in partnership with United Way of the Lower Mainland 80 70 60 50 40 30 20 10 0 76% 53% 45% 45% 57% 44% 73% 44% 76% 44% Customers want more from brands. According to Edelman's 2016 Trust Barometer, 80 per cent of people surveyed globally believe that companies can play a leading role in solving society's problems while still making profits. And there is a large consumer market for companies with a purpose that favours environmental and social contributions to the world. FOR A COMPANY THAT ACTIVELY SUPPORTS A GOOD CAUSE % THAT WILL SUPPORT FOR A COMPANY THAT DOES NOT ACTIVELY SUPPORT A GOOD CAUSE % THAT WILL NOT SUPPORT SHARE POSITIVE OPINIONS AND EXPERIENCES BUY ITS PRODUCTS AND SERVICES RECOMMEND ITS PRODUCTS AND SERVICES WANT TO WORK FOR THE COMPANY INVEST IN IT

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