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Doing good is good business. Here’s how to convince Singapore companies
Social sustainability is often neglected or poorly incentivised. It’s time to fix that imbalance with support and real rewards.
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Students of Grace Orchard School being briefed by DBS volunteers in 2024 as part of a financial literacy programme.
ST PHOTO: GAVIN FOO
Jean Tan
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When Ikea launched its ThisAbles programme – an initiative offering free, 3D-printable add-ons to make its furniture more accessible for people with disabilities – it saw its revenue for products compatible with these add-ons jump by a third within a year. Purpose, it turns out, is good for business.
DBS Bank’s flagship People of Purpose movement mobilises employees to volunteer their skills and time for community causes. In an internal survey, 96 per cent of DBS employees said the bank’s purpose-driven mission resonates with them – a connection that has helped drive stronger engagement and contributed to a 91 per cent staff satisfaction score in 2024 – well above industry benchmarks. Purpose doesn’t just drive impact, it helps companies engage and retain talent.
