The number of companies that have started to value their impact over profits is growing. This is a huge change from past generations when profits were all that mattered even if it came at the expense of the environment.
Technology has made it possible for things to be shared all over the world in a matter of minutes. This has caused many companies to take a step back to look at how their tactics of making money impact their public perception.
In many cases corporations have done better while being more socially or environmentally friendly as people make their money do the talking. The following are advantages a business can have by being socially or environmentally friendly.
Incredible PR Move
People are much more informed about how businesses operate now than they were in the past. Companies that were using underpaid labor overseas have seen drops in sales once revealed. With smartphone technology the treatment of employees as well as the environment has improved.
Announcing the different social or environmental initiatives the company is taking part is can help improve customer loyalty. Companies that produce something of high quality but also are conscious of the waste they produce should be promoted.
A section in a monthly newsletter about the green initiative might not seem like much but those that care deeply about the environment will take notice.
Listing Your Business as a B Corp
A benefit corporation identity or B Corp simply means that the business goal is to benefit the public in some way. The regular business model is to increase profits year after year. A great B Corp example Giving Assistant listed quotes in their announcement that are values of other B Corporations and are below.
“Businesses should compete not only to be the best in the world, but to be the best for the world.”
“All business ought to be conducted as if people and places matter.”
“World business leaders must realize that everyone is dependent on each other for the well-being of our global community and natural resources.”
“A company’s products can and should benefit society in their production, practices, and profit.”
As anyone can see these are not the traditional value statements of businesses. A B Corp also allows a company a form of trust from the public as their final goal is not to profit as much off of the public as possible.
Another great benefit of becoming a benefit corporation is that of attracting top talent. Many of those in the job market are willing to take a lower salary in order to make a real difference. Being able to help the public instead of the bank account of investors in the corporation help reduce stress that usually is present at regular corporations.
Social Media Justice Warriors Will Leave You Alone
The rise of social media allowed people to voice their opinions about things that they might not have any idea about. One of these persistent people with a gripe with a company might point out all of the things that they might not like.
This could be production tactics or even something like how much you pay employees. Taking the green route or one that stresses helping people socially will keep their keyboard warriors away. Make sure that you have an employee that embodies your corporate values working the social media accounts.
People can say hurtful things but the last thing that you want is an employee losing their temper which will reflect poorly on the company.
Doing business the correct way might not always be the best for profits but in the long run will be beneficial to the company. Take a few hours to look at processes to see where you can reduce waste. Often times this is a quick fix that will have little to no impact on production.