Why a Prosperity Report?
Allstate is about creating the future
Annual reports were created before ubiquitous and continuous information flows. Today, a company’s successes and disappointments are tweeted while blogs and social media sites shape reputation one word at a time. As a result, we want to share the broader story of Allstate’s successes and challenges in the first of many Prosperity Reports.
Businesses create prosperity. Iron rocks are molded into steel skyscrapers and molecules are combined to create lifesaving drugs. Allstate protects tens of millions of people from life’s uncertainties and helps them rebuild their lives after disaster strikes. Private enterprises employ 85% of the U.S. workforce. Capital, people, intelligence and processes are combined to make the world a better place. Quite simply, the world is a better place because of one of society’s greatest organizational creations: business.
To continue creating prosperity businesses must take on a bigger role in society. Let’s be clear, a business needs to make an acceptable profit since this is a measure of how effectively it uses society’s resources. Yet more is expected and needed from business. Eighty-seven percent of young Americans believe that businesses need to do more than make a profit. Companies also need to be held accountable for creating jobs, making sure free markets work and improving our communities.
At Allstate we pursue these four goals by following Our Shared Purpose. In business, it is often said what gets measured gets done. We created this Prosperity Report to show how we measure up to our aspirations.