B Corporations are for-profit companies that not only have a social mission but have concrete ethical and sustainable means of conduct. The initiative started in 2007 over in the US, with brands such as Patagonia and Ben & Jerry’s becoming certified B-Corps soon after. Since launching in the UK in 2015, there are now 188 British companies, from Allplants to Yoti, all part of a movement striving to do business better.
“We want to use business as a force for good, not greed. As a business, we need to make money, but we don’t want to do it at the expense of others, or at the expense of this fine planet of ours.”
B Corps are growing 28% faster than any other companies in the UK market, and of these certified do-gooders, 48% of them reported that people have been attracted to work for their brand solely because of their B Corp status.
It’s estimated that by 2025, Millennials will make up 75% of our workforce. This generation cares about working for an environmentally sustainable brand more than any other (70% of them compared to just 17% of Baby Boomers), and almost two-thirds wouldn’t accept a job if they believe the employer doesn’t have strong CSR in place.
It’s not enough to just say that you care about certain causes anymore, in a world where we can fact check information at the click of a button, a potential customer, employee or investor wants to see the evidence of your business operating in a sustainable way.
Hawkwood partner with some of the most mission-driven organisations in the world, and I think most of the team would agree that even in this candidate-short market, these aren’t the companies that we struggle to find engaged candidates for. There’s another side of the tech sector that we ultimately have to work harder to get buy-in for, and one of the best example’s of this I can think of is the gambling industry.
Globally, the sector reached a value of nearly $449 billion in 2018, it has developed some of the most innovative technology around transforming how users approach online gaming, yet it’s an industry that we’ve seen a huge decline in people wanting to work for in recent years.
So why do most candidates consider working for gambling businesses less attractive than working for any other tech business?
It comes down to the moral high-ground. If the public has lost trust in whether your business is doing something good for the world, higher salaries, stock options and an enviable benefits package aren’t going to be enough to secure the best talent. Given the rising valuation of the gambling industry, it’s safe to say that people will probably always gamble. However, if in order to build amazing products and market them well, you need good people, and if good candidates no longer want to work for these kinds of companies, will the growth of this industry inevitably decline?