If you're a CEO or Founder, balancing the pursuit of making your business a force for good, maintaining profitability, and building a strong team can be a challenging task. You've probably wondered how you can drive positive change without risking the stability of your company.
This was the exact question that Mari Parker and the leadership team at Boldr faced.
Boldr, a #BPO with a purpose, recognized the negative reputation often associated with the industry and decided to challenge the status quo.
As a proud #BCorp, Boldr focuses on a mission-driven approach, creating opportunities and empowering its team members to learn, grow, and advance in their careers.
One of their first steps was to increase the wages of their employees across all their offices, starting with the Manila office.
To make this bold move and sustain it long-term, they had to carefully examine their financial operations and gain a clear understanding of their numbers to ensure the company's mission could continue while maintaining #financial stability.
Key takeaways from our conversation:
1. Good intentions are not enough; you must ensure the sustainability of the changes your intentions spark. This requires maintaining overall business health and effective resource management.
2. Analyzing your financials is crucial for making internal adjustments. Adjusting the pricing of your products or services is often necessary to support these changes.
3. Having business partners and clients who align with your mission is essential.
4. Leveraging data simplifies the journey, helping you identify the financial implications of implementing living wages and determine if your business is ready for these changes.
5. Transforming your business and making systemic changes might not always be a smooth path, but it's the right one for creating positive impact.
“If the impact you're making on the world is not integrated in your economic engine, as a company, that it's fragile, and it's at risk” Mari says.
You can read the full blog post here: https://lnkd.in/gFpu-ujB
I'd love to hear your thoughts!
#womeninbusiness #herceojourney #bpoindustry #ethicalemployers #bcorp
Supervising Associate (Corporate) Simmons & Simmons Luxembourg LLP
3wCongratulations to all of you for your well deserved promotions !🎊