The ImpactPHL Challenge
Are you brave enough to take a hard look at your business and how the decisions you make affect our community, its citizens, and the environment? If so, we invite your take the ImpactPHL Challenge!
What is the ImpactPHL Challenge?
The ImpactPHL Challenge is a call to action for business leaders. Is your company a good corporate citizen? You probably said yes. But how do you know? You create jobs and pay taxes. You likely recycle and turn off the lights and you probably have some kind of “give back” program that involves donations or employee volunteer time. But it’s the everyday policies and decisions about how you run your business that really have influence on the Philadelphia region. The ImpactPHL Challenge asks you to take a look at your business through a different lens - not just by how profitable you are, but by how your business affects your employees, the environment, and the communities in which we live and work.
What’s in it for me and my business?
Most businesses need three things to be successful - customers, employees, and investors. More and more each day, all three of those stakeholders are increasingly sending signals that they expect more from the businesses they support. Customers are willing to spend more for products that align with their values. Employees want their work to “mean something”, especially the millennial generation which is now the largest portion of the workforce. And even investors, somewhat counter-intuitively, are learning that businesses that manage their social and environmental impact are also de-risking themselves at the same time. So, keeping an eye on the triple bottom line (people, planet, profits) could be an important differentiator for your company’s ability to increase profits, attract top talent, and secure growth capital.
Why is this important?
Being a good corporate citizen is about more than doing volunteer days with your staff. It means optimizing not just for shareholder value, but also for stakeholder value (ie: how your business policies and decisions ultimately affect your workers, our community, and the environment). The first step in getting better is to better understand the issues, evaluate how you’re doing, and contemplate how you can improve. That’s what the ImpactPHL Challenge is all about.
How do I participate?
To participate in the ImpactPHL Challenge, we ask that an executive of your company (CEO, COO, Head of HR, etc) take the B Lab Impact Assessment. B Lab is an international thought leader that serves the global movement of people using business as a force for good. The B Lab assessment is a free, confidential online tool. Our goal is simply to make you aware of how the decisions you make every day affect your employees, the environment, and the broader Philadelphia region. When you take the assessment, you’ll get feedback about how you are doing in each area and suggestions about what you can do to improve. We know you’ll gain valuable insights about your business and we hope you’ll put that knowledge to work - creating better outcomes for the Philadelphia community and better positioning your business for the future.
Can ImpactPHL help me once I’ve completed the ImpactPHL Challenge?
Yes! ImpactPHL has prepared Resource Guides to help point you get started on the issues you choose to focus on. And B Lab has a Resource Library for those that want to explore further, deepen their impact, or pursue B Corp Certification. Plus, there is a local community of Certified B Corps that are willing to support other businesses that want to drive impact into their business practices. Click here to schedule a debrief session with a local Certified B Corp.