FOR IMMEDIATE RELEASE
LOCAL TECH COMPANY PROFOUND IMPACT ACHIEVES 100 PERCENT STAFF RETENTION OVER TWO YEARS DESPITE TUMULTUOUS MARKET CONDITIONS
Profound Impact attributes a staff retention rate of 100% to employee programs driven by purpose
WATERLOO, ON | NOVEMBER 27, 2023 — Profound Impact™ Corporation, a local tech company in the Toronto-Waterloo corridor, has reported in its annual Social Impact Report that it has achieved an employee retention rate of 100 percent (zero percent attrition) while growing the team by 33 percent. This employee retention rate is in stark contrast with tech companies globally, where the average attrition rate sits at 13.2 percent.
“It’s a rarity to see a start-up tech organization embody social impact programs so early in their company journey,” says Renata Rusiniak, who leads People & Purpose programs at Profound Impact. “Our CEO, Sherry Shannon-Vanstone, understands the business value of purpose-driven work and invests accordingly. Her early adoption of programs that support her team to engage with community organizations has created a culture of generosity and as a result, an impressive employee retention rate.”
The Social Impact Report highlights strategies the Profound Impact team undertook to maintain and improve a positive environment for their employees. Initiatives included monthly team meetings with team-building activities, virtual social events such as cooking sessions conducted through online platforms such as Zoom, team wellness programs such as team volunteering, professional skills and growth support education programs, matching charitable contributions to community organizations, book clubs, and much more.
Profound Impact’s annual ‘12 Days of Impact’ program encouraging generosity and the impact of small acts of kindness upon others, has also helped employees create a meaningful sense of contribution to their community while increasing bonds of collegiality on the job.
“Our 12 Days of Impact campaign provides great examples of easy and inexpensive ways to be kind and generous,” says Dr. Sherry Shannon-Vanstone, the CEO and Founder of Profound Impact. “ We’re encouraging our team members and our whole community to demonstrate the power of many through small acts of kindness that create big impacts in society.”
Profound Impact’s AI-powered tool, Research Impact, offers automatic, targeted and timely grant matching. The company is also passionate about community, environmental sustainability, and employer-supported volunteerism. In addition to giving back through the 12 Days of Impact, Profound Impact has implemented employee donation matching, time off for volunteering, and group volunteering. To learn more about Profound Impact’s purpose-driven business, take a look at our FY23 Social Impact Report.
Individuals and organizations participating in the 12 Days of Impact can download the 12 Days calendar and share their actions on social media using #12DaysOfImpact.
ABOUT PROFOUND IMPACT™ CORPORATION
Based in the Toronto-Waterloo technology corridor, Profound Impact’s AI-powered tool – Research Impact – helps academic and industry researchers find the perfect funding match. With over $300 Billion in research funding opportunities, 100,000s industry partners and 8.8 Million researchers globally, finding the optimal grant for academic and industry innovators is often overwhelming and unnecessarily time-consuming. More than just a search engine, Research Impact offers automatic, targeted and timely matching. Profound Impact’s customers include top North American research institutions, universities and industry partners. CEO and Founder Sherry Shannon-Vanstone is a serial technology entrepreneur with an unparalleled track record. She has had five successful start-ups and exits in Silicon Valley and Canada, including two IPOs and acquisitions.
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