Financial companies are leaning more into purpose. This guide shows how to create a Purpose Measurement Framework and outlines its role in declaring, substantiating, and communicating social purpose.
Consumers, employees, and investors alike are increasingly expecting businesses to demonstrate their contribution to society, beyond generating profits.
Financial services firms, too, are feeling pressured to shift from a purely profit-driven approach to one that seeks to make a meaningful contribution to the long-term well-being of people and the planet.
In response, many financial institutions are adopting a social purpose, which articulates their strategic and optimal contribution to the well-being of people and the health of the planet.
The benefits are numerous and well-researched:
More and more dedicated customers
Increased resilience to navigate dramatic sector-wide change
Advantages in talent attraction, engagement, and retention
While approximately 15% of companies listed on the Toronto Stock Exchange have officially declared a social purpose, many are still in the process of fully integrating their purpose into their day-to-day operations.
The gap between declaring a purpose and acting on it is driving firms to seek and share evidence of their impact.
Considering this, Junxion is working with leading financial institutions to develop a tailored measurement framework—a comprehensive and customized tool designed to assess progress towards their unique social purpose.
This guide provides an overview of the most important components to consider when building a Purpose Measurement Framework. The intent of this guide is to help your company take tangible steps to develop a framework of your own.
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