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Have You Updated Your Vision Statement With Sustainability Goals? You Should, But Choose Your Words Carefully. Words can mean different things to different people, in different situations.

By Brendan P. Keegan

This story appears in the July 2023 issue of Entrepreneur. Subscribe »

The world is changing, and anyone ignoring sustainability will get left behind. So where to start? Perhaps with something simple — just a few words that, if taken seriously, can refocus the mission of your company.

Image credit: Zohar Lazar

I'm talking about a vision or mission statement, which many companies have for a reason: Employees who embrace your vision tend to work harder for you. According to a recent Dale Carnegie Training research study, companies with engaged workers outperform competitors by as much as 202%. With today's increasing focus on environmental, social, and governance (ESG) issues, many employees and customers are demanding that companies find ways to address these areas.

We grappled with this at our fleet management company, Merchants Fleet. Our statement had long been: "Enabling the movement of people, goods, and services freely." How could we update that language to embrace ESG, while not forgetting what made us successful to begin with?

Related: What Is Sustainability In Business?

We debated adding the words "and sustainably" to the end of our statement, but decided that would be too limiting. We commit to sustainability where possible; as a commercial fleet company, for example, we've reserved 40,000 electric vehicles (EVs) for $2.5 billion. But what about our clients in rural areas? Putting their drivers in EVs might be sustainable, but it would be irresponsible in areas without charging infrastructure.

That's why we settled on different language: "Enabling the movement of people, goods, and services freely and responsibly." With that, we prioritize responsibility — for our clients and, where possible, the world at large.

If you adapt your own vision statement to accommodate ESG principles, I recommend avoiding absolutes. The words should be broadly acceptable and understandable, but flexible enough to meet the needs and expectations of your entire base. They shouldn't alienate anyone, including your employees.

Similarly, make sure that your mission statement is realistic and attainable. If your words are impossible to follow through on, customers will lose faith in you. For example, suppose you're coming up with a new mission statement for an airline. If you add the phrase "on time," you'll be opening the door to a massive number of complaints, as there are just too many variables to guarantee that you'll hit every time point perfectly. If you add "safely," though, that's much easier to achieve consistently.

Related: Why You Need to Build Sustainability Into Your Business Strategy

We found this to be equally important when discussing our commitment to diversity. Our staff profiles are very different in different regions. In New Hampshire, our profile is at 9% diversity, which is roughly the state average. In Chicago, we're 45% diverse, because that area is more diverse overall. To require 45% diversity in both would be impractical, so we couldn't anchor ourselves to language that specific. Instead, we focus on a broader approach where we can have a more immediate impact — including, for example, having a 47% female team (and 50% female executive team) in an industry that's male-dominated.

Ultimately, it's not about the statement you make. It's about the vision you set. Then you can ask yourself, "What can we do today to make an impact?" That fuels immediate and tangible actions, like gender-equity pay reviews, remote hiring, virtual education hangouts, and so much more.

The best practice is to pick language that's timeless and a little better than what you had. So, what few words can you add…responsibly?

Brendan P. Keegan

Entrepreneur Leadership Network® Contributor

6X CEO & 21X Board Director

Brendan P. Keegan is a 6-time president and chief executive officer, 21-time board director, two-time best-selling author, World’s Most Innovative CEO award winner and the visionary leader behind bFEARLESS Ventures, an investment & advisory firm.

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