Purpose vs. Profit: Redefining Success at the Top - Key Takeaways
- Victoria Butt
- 28th Mar 2025
Parity Consulting was proud to host a terrific evening of debate about Profit vs Purpose with our good friend Suzy Jacobs, where she and Victoria Butt went head-to-head to unpack the pros and cons of priritising profit or purpose, and whether you really need to choose. Key TakeawaysIn a dynamic and debate-style discussion (where some creative licence was taken), we brought together some of our senior female clients to discuss the money/purpose debate tackling 4 key questions.Navigating a skinny soul vs. a fat pay check—how do you financially survive if you prioritise purpose over profit.What does your legacy look like?Time Value Trade-offSense of Worth tied into Business/Career SuccessParity's CEO, Victoria Butt presented the case for Profit.Guest debater, Suzy Jacobs presented the case for Purpose.Moderator, Parity's Vanessa Lalanai managed to stay "Switzerland" during the energetic debate.1. Navigating a Skinny Soul vs. a Fat Pay checkHow do you financially survive if you prioritise purpose over profit?Your financial security during childhood and upbringing plays a significant role in shaping your approach to this balance. Being aware of your personal drivers helps ensure they don't unconsciously dictate your decisions. Understanding your background gives you the choice to determine if that mindset works for you.The group agreed that purpose is important—but so is aligning with the organisation you work for. Profit and purpose don’t have to be mutually exclusive; you can work for a profit-driven company while still feeling aligned with its mission. However, when there is a misalignment, problems arise—take Qantas, for example.Success and fulfilment can look different depending on your perspective. For some, making money is a means to an end—providing financial freedom for themselves, their families, or others.Comment from the Audience: Actually what really resonated is the growing up bit. When we first arrived in Australia, we had no electricity. At the time I didn't realise that was because my parents couldn't afford to turn it on. So to that, I think that in my entire life that has driven me to follow the pay check - I have no safety net. At the same time, I always wanted kids - they are my life - and that's where the purpose comes in.Comment from the Audience: My family had very little, and worked very hard to get financial security. My husband's health has meant I have been the only person working. It's all about your kids and building your wealth for your children. My purpose is my family and their financial security. So for me, profit is first. But I still want my job to be something that I enjoy each day. Something where I'm making an impact in what I do.2. What Does Your Legacy Look Like?Most people aspire to leave a legacy. But how do you leave your kids a legacy if you don't priority money?Legacy takes many forms—financial, emotional, and social impact. It’s not just about wealth. A fulfilling life involves purpose in all areas, not just in work. What became clear in our discussion was that legacy is about what you leave behind for others—whether that’s through your family, community, or charitable efforts.For example, mentoring your kids (or teams) to be good humans, kind leaders, high functioning, passionate, loving and successful, is a purposeful legacy worth pursuing. Comment from the Audience: I spent my 20s and early 30s working really hard. Work is what I did. And the definition of myself was my career success and how much money I was making. I had a wake up moment probably in my mid-30s. Where I would have the profit orientation, but I made sure that I found a moment of joy in every day. Actually choosing to be happy, to find joy, and to make a contribution.3. Time/Value Trade-OffLook for alignment, not compromise. Life is about more than just making money—whether for the present or future.We discussed changing the metrics of success—it doesn’t have to be an “either-or” scenario. Alignment across the six elements of the Wheel of Life—relationships, health, career & contribution, lifestyle & fun, money & financial security—ensures a more holistic approach to fulfilment.4. Sense of Worth Tied to Business/Career SuccessMany people tie their self-worth to their job, title, or earnings. While there’s nothing wrong with deriving a sense of accomplishment from your work, it’s important not to put all your eggs in one basket. When work situations change, those who have other areas of purpose in their lives tend to navigate transitions better.Enjoy your achievements, but don’t become one-dimensional—balance is key. TheTop Five Regrets of the Dying (Author: Bonnie Ware) serve as a reminder:I wish I’d had the courage to live a life true to myself, not the life others expected of me.I wish I hadn’t worked so hard.I wish I’d had the courage to express my feelings.I wish I had stayed in touch with my friends.I wish that I had let myself be happier.Did the Debate Change their Views?Case for ProfitSuzy’s perspective on Purpose resonated with Victoria, particularly her emphasis on clarity around priorities. While profitability in business is crucial, she firmly believes in balancing it with meaningful commitments. Take the company's Parity Plus initiative, for instance, where 10% of annual profits go to purposefully support philanthropic causes, events, research, and insights. And as profits expand, so too does the ability to make a greater impact.Victoria is also keen to explore how Parity’s access to exceptional executive talent and remuneration benchmarks can influence boards—not just to meet diversity targets but also to address the gender pay gap. It’s about shifting perspectives and exploring innovative solutions.Case for PurposeSuzy acknowledged Victoria's perspective on Profit and that the system is still broken—whether it’s diversity, the gender pay gap, or gender-based violence. While progress has been made, these challenges persist and require ongoing effort to address.She also agreed that success shouldn’t come at the cost of constant sacrifice and compromise. Instead, it can be designed on our own terms, with alignment—between values, work, and life—replacing the traditional notion of trade-offs.Finally, she highlighted that purpose shouldn’t be confined to just one area of life. When we give meaning to all aspects—beyond just profit—it fuels motivation that can be channelled into everything we do. The Wheel of Life is an excellent guide for deeply considering how you can tie purpose throughout all facets of your life. Some feedback from our Guests:Loved being part of last night’s event, Victoria ... such a rich and thought-provoking conversation. One thing I left the room with was to consider whether the “Profit vs Purpose” narrative is due for an upgrade. What if instead of choosing sides, we moved toward a Third P - Progressive Thinking - where alignment replaces compromise? That’s where I see the real transformation happening, especially in how we define legacy, value and worth. Grateful to be in dialogue with brilliant minds who are reimagining the future of work and leadership. 🙏 Suzy Jacobs, Bold Mind MovesExcellent (and at times hilarious) debate. And lots of interesting conversations afterwards. Sarah Penn, Mayflower ConsultingWhat a great session on a very relevant debate at any leadership table. Thanks Parity Consulting for organising, refreshing to hear about everyone's personal story around purpose and profit as well! Denise Tung, Chief Digital OfficerAn exceptional debate and so much fun! Thanks for having me. Maria Lykouras, CEO, Impact LeaderInterested in attending more Parity Plus Events like this? Follow Parity on LinkedIn.
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