When does a company need to integrate a social purpose to their existence? As soon as the company is formed? When there are 40-50 full time employees? How about 100-200 or 500+ employees?
It’s a question to definitely ponder upon for the company’s founder(s), board or management team/employees. John Wood states in his book, Purpose, Incorporated: Turning Cause Into Your Competitive Advantage that “business leaders saw purpose not as a nice thing to do but as a must-do-a key competitive advantage that could enhance enterprise value.” A company which is profit centered and also has a bigger social purpose will not only attract the best talent but can keep them engaged and happy. When you know the company you are working for is growing and also making a impact in the community, nation and globally then it definitely makes you feel proud.
From my point of view if you are about to launch your venture, think about integrating some social mission into your company’s mission/vision. Even a small team of 3-6 people can make a difference in the community. The social activities can include volunteering at an orphanage, elderly home, pet shelter, donating blood or giving time to any cause that you/team feel is right. There is no dearth of places that need your valuable time. If the company you work for is 100+, then you can mobilize a small team to take up social activities on the weekends or holidays. There is so much that can be done and the volunteering ideas can be endless when you’re ready to contribute.
Having also a social purpose to your company will attract talent, keep the talent engaged and make them proud to be making an impact. Wouldn’t the world be a better place when all of us contribute whatever we can to something bigger than ourselves?