With the decision to draw up a Common Good Balance Sheet for the first time, the private insurance company Vorarlberger Landesversicherung (Austrian Life Insurance) has set itself the goal of helping improve business practices in all industries and helping companies reorient towards the common good.
Between January 2019 and May 2020, the insurance company worked on and finished its Balance Sheet. They were supported by two consultants from the Terra Institute.
The aim of this process was to combine the creation of the Common Good Balance Sheet with human resources development. The ten young employees of the core team, were asked to develop and strengthen social skills, which helped them in implementing the many ideas found to strengthen the common good, efficiently and sustainably. Already during the preparation of the report, a number of recommendations for action were examined and also realized.
The core team set in motion a process of orientation towards the common good that is already well integrated into various processes. The support of the two board members for the process was particularly important. They were pleased that the employees have accepted the challenge of the demanding topic of the Common Good Balance Sheet paired with important training focal points.
Beside the public health insurance company BKK ProVita, now also a private insurance company has completed a Common Good Balance Sheet.