B Corp certification encourages companies to look beyond low-hanging fruit to consider people, the planet, and prosperity. Photo / Bevan Conley
B Corp certification encourages companies to look beyond low-hanging fruit to consider people, the planet, and prosperity. Photo / Bevan Conley
OPINION
It is not “new news” that a much-debated recession will reach our shores in 2023.
The recession shape, length and volatility level has been discussed ad nauseam, with crystal ball predictions made for months leading up to Christmas.
Regardless of what this year brings for businesses - especially smallto medium enterprises (SMEs) most susceptible to downturns - continuing to work and build on the triple bottom line of people, planet and prosperity are more relevant than ever, with customers and employees demanding it.
Faced with recession-proofing, the changing tides of stakeholder expectations, and ever-mounting pressure relating to climate change and expectations for sustainable practices, organisations’ strategic planning sessions will require new levels of complexity, starting in January.
Can a company plan and forecast effectively while being mindful of its impact on workers, communities, customers, and the planet?
We think so, thanks to the B Corp journey we have been on.
Encouraged and inspired by clients that are either B Corp certified or on the path, our freshly minted B Corp certification had us join a global community of more than 6200 “B Corps” across more than 150 industries in 89 countries.
The “B” is for “Benefit for All”, and it is this philosophy that drives its members to improve performance across three Ps - people, planet, and prosperity.
Sustainability is such an easy word to bandy around but it is important that we walk the talk, not just in terms of our environmental impact but in terms of how we look after the people we work with and for, and as a proud New Zealand company, how we honour Te Tiriti o Waitangi.
Kate Grant is the managing director of NSPR Limited.
The pandemic has brought with it significant changes to how many Kiwi organisations do business; changes that have transitioned from being temporary measures, as we grappled with lockdowns and new work-from-home scenarios, to more permanent ways of operating.
Many of these changes have been positive, allowing for greater tolerance of the varying needs of workforces, customers, and suppliers.
Businesses are increasingly recognising that they can no longer “get away” with pursuing profit for its own sake.
Our newest entrants to the workforce support this approach. Younger Millennials and Gen Zs are prepared to set firm boundaries and walk away from roles if their boundaries and expectations are not respected.
Businesses must adapt to these new paradigms.
Businesses in Aotearoa are facing a labour shortage, and potential employees are increasingly seeking out those organisations that proactively work to meet their Treaty obligations.
As an organisation, our own Treaty journey is ongoing. Our team has engaged in Treaty training (which we also made available to some of our clients), and unconscious bias training, and we continue to work with a consultant who has provided guidance in further developing our key founding pillars by which we operate: hauora (health) and whānau (family), to now also include whānaungatanga (connection).
Turning our pillars into policies contributed to our B-Corp certification score, assessed across five impact areas; governance, workers, community, customers, and environment.
A minimum score of 80 is required and we are proud to have achieved a score of 92.7 but, rather than moving to the next business objective with nary a backward glance, organisations are reassessed every three years in order to retain their B Corp status.
The intent of this reassessment is to encourage certified organisations to strive for constant improvement. B Corp not only evaluates efforts across the assessment period but actively supports continuous growth, offering resources and templates in best-practice policies and protocols.
Currently, 90 organisations in Aotearoa have gained B-Corp certification and we would love to encourage others to consider starting the B Corp journey. It requires sustained commitment, perseverance and an appetite for improvement, but more than an exercise in showing your sustainability prowess, B Corp sets organisations up for the future - to be the type of companies New Zealanders want to work with and for, long after this latest downturn has passed.
Moving the needle in a world where what you stand for counts will hold you in good stead, regardless of pandemics or global recessions.
If you want to lead alongside a collaborative community of likeminded people, it is worth considering B Corp certification for the tools to dive deep into your business, to grow, and attract top talent.
The greatest reward is that your business will be part of a global network of changemakers.
Kate Grant is the managing director of NSPR Limited, a public relations, talent and event agency.
