Thrive Stars, a 5-Star Organisational Rating System, recently marked its first anniversary with a host of accomplishments. Founded by Michelle Crawford, Alexandra Joy, Dr. Greg Gambrill, Jenny Taylor, Renee Burkinshaw and others from the Hunter Region, Thrive Stars has emerged as a game-changer in the realm of organisational performance.
Thrive Stars was conceived to address an issue plaguing Australian businesses: a 37% productivity leak within the nation’s $1.9 trillion GDP, primarily attributed to inadequate workplace practices. The initiative aims to bring light to this issue in individual businesses by measuring and enhancing organisational prosperity through five key pillars: Culture, Inclusion, Wellbeing, Productivity, and Sustainability.
In its inaugural year, Thrive Stars has successfully registered as a company with 12 shareholders and assembled a leadership team, board, and advisory panel. Additionally, it has crafted an algorithm designed to evaluate and rate organisational performance across the five pillars.
Michelle Crawford, CEO of Thrive Stars, reflects on the past year’s progress.
“Our first year has been nothing short of extraordinary. We identified a crucial gap in the market and developed a comprehensive system that not only benchmarks organisational performance but also drives meaningful improvements. The achievements we’ve celebrated thus far are just the beginning of a broader movement towards more effective, holistic leadership and workplace practices,” Michelle said.
The Thrive Stars team has engaged with a diverse range of stakeholders, holding meetings and meeting with Federal Treasury representatives on seven occasions. They have also initiated early discussions with investors and successfully designed a five-star rating system tailored for organisational assessment.
In addition to these milestones, Thrive Stars has made contributions to the industry’s knowledge base by working on a book exploring individual, organisational, and societal thriving. They have also hosted an event, attracting 150 attendees from 30 different organisations. Their Think Tank series with 75 participants, has provided valuable insights into optimising workplace performance.
Co-founder Alexandra Joy highlights the impact of Thrive Stars on the local business landscape.
“We’re incredibly proud of the momentum we’ve gained over the past year. Our approach to measuring and enhancing organisational prosperity is resonating strongly with businesses looking to elevate their performance. The feedback we’ve received underscores the critical need for a comprehensive system like Thrive Stars,” Alexandra said.
The five pillars of Thrive Stars—Culture, Inclusion, Wellbeing, Productivity, and Sustainability—are designed to address key areas that significantly impact organisational success. By concentrating on all five areas, businesses can expect improvements in turnover, profit margins, employee engagement, strategic thinking, and other essential performance metrics.
“If you’re passionate about enhancing your organisation’s performance and want to explore how the five pillars can be applied to your business, please reach out. We’re excited to engage with more businesses and drive positive change together,” Michelle said.
IMAGE | Members of Thrive Stars
