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Recruitment a big benefit for B Corps
Key Excerpts from Article on Website of San Francisco Chronicle (San Francisco's leading newspaper)
Posted: April 5th, 2015
http://www.sfgate.com/business/article/Recruitment-a-big-ben...
Change.org is a B Corporation a for-profit company committed to social or environmental goals in addition to its financial obligations. Because the San Francisco firm tries to benefit not just its shareholders, but also society, Change.org is an especially appealing place to work for civic-minded job-seekers, said David Hanrahan, head of global human resources. Hanrahan has an eye toward recruiting Millennials. B (for beneficial) Corporations are the creation of B Lab, a Pennsylvania nonprofit that awards the certification to companies that meet its standards of social and environmental performance, accountability, and transparency. A 2014 Brookings Institution report, How Millennials Could Upend Wall Street and Corporate America, found that the desire on the part of Millennials for their daily work to reflect and be a part of their societal concerns will make it impossible for corporate chieftains to motivate Millennial employees simply by extolling profits. In 2012 ... California [became] the 28th state to provide a legal structure allowing companies to become certified B Corps. Since then, such firms have flocked to the Bay Area. The region is home to the highest concentration of certified B Corps on the planet. The certification process is a way to tell the difference between good companies and good marketing, [consultant Ryan] Honeyman wrote in his book, "The B Corp Handbook: How to Use Business as a Force for Good." Many companies want to do good, but they dont know how to do it, said Honeyman. The B Corp certification process gives them the tools to do so.
Note: For more along these lines, see this article about B Corps and "stakeholder capitalism" as a solution to the problem of growing income inequality.
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