Finance and accountancy used to be oh so dull! Anyone who grew up with Mary Poppins playing in the background would know that there was no fun to be had by George Banks or his fellow finance professionals! The spectre of stern old men in pin-striped suits made a stark contrast to Dick Van Dyck’s tradesman having all the laughs and making all the difference. A misleading message could well have been communicated to that generation: don’t be a finance professional if you want your life to be glamorous, meaningful, adventurous or fun.
Funny how, now that the children who sat in front of Mary Poppins have reached middle age, a new post-George Banks generation of movers and shakers in the world of finance are leading with cause and using money to make a significant impact. There is no disputing that they are using finance as a platform to do things that are meaningful, adventurous, fun and even glamorous at times!
Core3 launched the Conscious Finance Podcast so that, as an accountancy recruitment firm, we could create a platform for this new generation of finance leaders to discuss and explore ways in which they can impact business decision-making for the greater good. Through discussions with some of the top finance leaders who are forging the way, the Conscious Finance Podcast challenges the stereotypes surrounding finance to inspire real change.
Core3 are pioneering a “conscious mindset” for finance and accountancy recruitment firms which is all about taking people, planet and progress into account. The way we do it is by pledging to give back 3% of sales to charity before making any money. We need to make a profit, but it’s not our entire reason for existing. We want to influence our generation and inspire change within the world of finance and accounting.
The podcast provides us with a forum where both finance leaders and aspiring finance leaders can learn practical ways to make a positive impact, regardless of whether or not they work in a purpose-led organisation.
A recent interview on the Conscious Finance Podcast was with Rick Sturge, an ex-accountant who has worked hard to inspire change within his generation. It was great to hear from Rick as his outlook encapsulates the spirit of “Conscious Finance”. Although now retired from the corporate world, Rick started as an accountant and also worked as a business consultant for some of the world’s biggest brands such as IBM and BT. Even more exciting, he is currently working with Bloodhound on a new land speed record attempt.
Over the years, Rick advised major corporations in over 100 countries and he’s gained some fantastic insights into the developing world, finding that many of their business leaders had a philanthropic aspect to their ambitions that Rick loved. He met the Indian Chairman of a huge chemical business who spoke about how he planned to use his business profits to rebuild his ‘village’… of 5 million inhabitants.
This responsive approach inspired Rick’s belief that too much focus has been put on what the government is going to do to provide an answer for all of society’s problems when they have so many other things to worry about. This is why he is challenging the business world to work together to solve problems collectively. He is currently working to galvanise finance professionals, lawyers and corporations into working together rather than constantly competing over the bottom line, to invest their time and talent into improving the wider community. He is encouraging people in influential positions in the corporate world not to always think about the cost of doing something, but rather to think about the cost of not doing it.
Rick’s on a crusade against short-term thinking where short-term concerns are prioritised over considerations for future generations. Considering that chief executives usually only stay in place for a three-year tenure, it would be unusual for them to be thinking about the longer-term, generational impact of their decisions. Rick, however, believes that although individuals might have a short-term focus, organisations as a whole can collaborate to adopt a long-term focus and set a path towards a sustainable vision. Equally, consulting giants such as PwC and Accenture also have a huge role to play in shifting attitudes
Professional entities such as accountancy and law firms of any city have an extensive reach in terms of the number of people they employ and can work collectively in their supply chains to accelerate change. It’s not always about the bottom line, it’s about doing the right thing.
Within any business, finance professionals and leaders have so much influence on the decisions made in the boardroom and can encourage business leaders to take a bit of a chance. Together with their duty to the bottom line, they can take on a lot of responsibility for reporting related to ESG. They are also ideally placed to continually change to drive optimal efficiency and free up time and resources to drive community impact. One great way for finance professionals to help their companies achieve this is through B Corp certification. B Corp represents a new way of rewarding organisations that deliver positive social value rather than always focussing just on shareholder value.
Leo, our CEO, likes the analogy that having a privileged position on the board of a corporation is like being part of the eldership of a traditional native American Indian village where the decisions that were made by the elders affected the entire village. When the elders met around the fire to discuss important issues they would light another fire next to where they were sat to represent future generations. Before any major decisions were made they would look over at the smaller fire to consider how their decision would affect the generations to come.
This analogy more or less summarises how Core3 think as an accountancy recruitment firm and we continue to try our best to consider and help the generations of tomorrow while influencing others in our sphere to do likewise.
If you are interested in hearing the whole podcast, please tune in or equally if you’d like to know more about what we do at Core3 as an accountancy recruitment firm, please take a look. To hear more from other finance leaders simply tune in to the Conscious Finance Podcast.
Finally, if you have not seen it yet, why not take a couple of hours out to watch the more recent version of Mary Poppins (if you have not done so already)? You’ll encounter a father figure who still works in the world of finance but is portrayed as a lot more human!
