One of the most essential ideologies related to the business world is the Triple Bottom Line (TBL). You’ve probably heard of it. It’s the framework for measuring a company’s performance as it impacts: profit, people, and the planet. When discussing sustainability, it’s almost automatic to think of the planet, and when talking about business, it’s almost automatic to think of profit. Nevertheless, focusing on the people involved is just as essential and is key to making progress.
When talking about race and sustainability, there’s so much to discuss. There’s environmental racism, food deserts, climate gentrification, and more. But right now, we’re going to look at something simpler but often overlooked company social consciousness.
Why People Like Socially Responsible Businesses
In our current society, there has been a shift for businesses to become more socially responsible. Customers are willing to spend where their values are being reflected. They are willing to hold their dollar or even demand better from companies that don’t align with said values.
Consider the Triple Bottom Line. There has to be a balance between the economic, environmental, and social aspects for an improved quality of life. Therefore, implementing principles that encourage equity, justice, and inclusion of various identities within the way you conduct business is an extension of sustainability.
3 Reasons Being Socially Responsible is a Good Thing
1. Accountability
It shows people you care, whether demanding accountability or holding your company accountable. Ben & Jerry’s is a company already on board with demanding accountability.
After the murder of George Floyd, Ben & Jerry’s wrote an article condemning white supremacy and calling on former President Trump, elected officials, Congress, and the Department of Justice to squash white supremacy. Additionally, George Floyd and his family experienced a severe injustice, and this company identified that and called out an oppressive group and the supporting systems.
In addition to this article, Ben & Jerry’s has several related articles related to Black issues. Simply providing information and acknowledging the inequality within the world in a constructive manner shows they are a compassionate company.
2. Can improve Employee Turnover Rate
It isn’t uncommon for people looking to get hired to seek out companies that align with their values. Many people want to be in compassionate work environments that treat the employees well.
Furthermore, company social responsibility (CSR) can improve employee engagement because they’ll feel that they are contributing to positivity through their work.
3. Your Business Can Be Identifiable
Consider who the affected are and engage with them. For example, taking on projects that are a force of good to society can improve customer engagement. Customers like to know that the money they spend with a company is going towards positive societal impacts.
Some companies have already taken the initiative to advocate through sustainable branding. Once again, Ben & Jerry’s has been known to support grassroots organizations and the Children’s Defense Fund, a national non-profit.
Customers will take notice of a company that consistently shows up to support groups that need it most.
Want to Know More?
If you want more information, check out our sources on the Triple Bottom Line!