The key to the success of an organisation lies not simply in its ability to enhance its financial health, but also in its ability to identify areas that obstruct sustainability and work towards improving them.
This was the core premise of the National Conference on Improving Triple-Bottom-Line Performance (People, Planet & Profit) – Key to Sustainable Growth, jointly held by the Hyderabad Chapters of the National Institute of Personnel Management and the Indian Society for Training and Development at Taj Vivanta, Hyderabad on the 28th and 29th of August 2015.
For the students of first-year MA in HRM, Tata Institute of Social Sciences, Hyderabad, the conference was a unique experience where they had the privilege of meeting several prominent leaders of industry, scholars and academicians, who shared with them their insights and knowledge on the theme. The students had the opportunity to interact with luminaries like Mr. Vivek Bhaskar Gadgil (CEO & Managing Director, L&T Metro Rail), Dr. D K Likhi (CMD Designate, MIDHANI), Dr. S Chandrasekhar (President & Global Head of HR, Dr. Reddy’s Laboratories), Prof Kinnera Murthy (Strategy Consultant & Former Dean, ASCI) and Dr. Harish Vangala (Head CSR Planning & Communication, Ramky Group).
The event primarily comprised of three major sessions, each focusing on the respective Triple Bottom Lines – People, Planet and Profit. At each of these sessions, speakers from various academic and professional backgrounds enlightened the attendees about the impact that companies have on sustainable growth, based on their relationships with their employees, environment and money.
The present times necessitate companies to look beyond merely salary payments to motivate their employees and gain their commitment. Health care, professional development and job security are just a few aspects of their welfare and well-being that employees expect to be taken into consideration by their companies. ‘People’ refers not just to employees, but also to the community around which a company is situated, ensuring that its functioning does not have any negative impact on them, rather benefits their development.
On August 13th, we reached Earth Overshoot Day for the year 2015. This is a stark reminder that humankind is ceaselessly exceeding nature’s budget for the use its resources. This calls for immediate and effective action to control and preserve ecological services, a responsibility that companies need to regard as a critical endeavor, by promoting ‘green living’, and waste management, among other initiatives to ensure a sustainable environment.
Profit is the central cause for the existence of a business, a motive that is universal to all companies. The question that Triple Bottom Line raises is of where ‘surplus or excess profit’ is directed. The development of both People and Planet depends heavily upon this factor that is often misused by companies.
The conference was an excellent knowledge-enriching platform for the students, to gain a clearer and broader understanding of the role of a corporate organisation in social, environmental and economic development. Ultimately, a company is evaluated not just by the figures on its balance sheet, but also by the ethics and values it holds, which eventually build up its reputation amongst its stakeholders – whether investors, customers, or employees.