Why becoming a B Corp is good for business

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Benefits of becoming a B Corp

In fact, the benefits of being a B Corp are manifold, including being part of a thriving community of dynamic, fast-growing, and successful companies. It’s a community that Amy describes as “warm, open and collaborative” and a community with a common understanding that no matter your size or industry, you’re all working towards a common goal. After certification, B Corps join the B Hive, a platform where they can connect, communicate and collaborate.

Many studies suggest that being a B Corp fuels business growth. According to a B Lab UK 2021 community survey, the growth rate of B Corps membership was 15% between 2018 and 2021, compared to a UK national average of 1%. And, 2018 analysis by the Yale Center for Business and the Environment shows the connection between sustainability and resilience, calling B Corps “just good business” and acknowledging the unique ability of B Corps to attract and retain talent.

Amy tells Business Chief that 70% of candidates recruited by B Corps in the last three months mentioned B Corp in the interview process. She cites a company she is currently starting the B Corp journey with, which says it loses candidates who don’t want to work for them because they have no purpose.

Organic says its clients and clients see B Corps certification as a “benefit,” but it’s not a deal breaker in any way. However, where certification is vital is in the agency’s ability to attract and retain the best employees.

“We have found that most of our recent newcomers refer to B Corp as part of their decision to work at Organic. During this time, most of our legacy staff contributed to the decision to get certified in the first place. This is a big problem for us. For all of us.

“In a tight labor market, I expect to see this importance increase. Yes, employees want to be paid well but more than that, they want to be inspired. They want to work in a place that shares their views and concerns and where they feel they are enabling positive change. For us, B Corps is not that in itself, but it is an important and visible piece of the puzzle.

And that’s only going to increase, not just because top talent is getting harder to find, but because Gen Z is asking for more. New Data by Bupa reveals that one in three people (31%) would refuse positions in companies with low ESG qualifications and more than half (54%) would take a pay cut to work for a company that reflects its ethics.

B Corp isn’t the only approach for companies looking to be responsible and have a social and environmental impact, but it’s “the poster child,” says Ben, who thinks it’s the B Corp’s approach and the best-in-class community that make it such a powerful force.

“For some businesses, like Etsy, the B Corps framework will not be desirable or necessary,” Ben says. “These organizations are clear on what they want and need to do, and they find the undeniable B Corps administrator to be more of a hindrance than a help. My experience, however, is that these organizations, while brilliant, are in the minority. Most of us need advice.

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