Business success is no longer defined solely by a company’s profits and annual revenue. Today’s successful companies are also judged by the impact they have on the environment, their workers and customers, and the communities in which they do business.
Environmental stewardship has come to the fore as a concern for many business leaders. With climate change, pollution and an ever-growing population, the best businesses are not only looking to lessen their environmental footprint but to have a net-positive impact on the planet. For example, these six companies focusing on stewardship have found innovative ways to address several key environmental problems.
Employee engagement, another measure of a business’s impact, has become a buzzword in board rooms and at business conferences. But what does true engagement look like? Many businesses have given employees full buy-in by starting an employee stock ownership plan, or ESOP. Successful employee-owned companies, including Dansko, Gardener’s Supply and New Belgium Brewing, have found that bringing employees to the table improves retention rates, improves employee satisfaction and leads to more company innovation.
Stewardship, engagement, mindfulness — these are all examples of today’s successful businesses’ best practices. By staying mission-driven, company leaders consider the various ways scale will have an effect on their enterprises’ impact. Oftentimes, scaling up must happen more methodically in order to retain all three prongs of a conscientious businesses’ triple-bottom line. Learn more about why corporate social responsibility is important, and the advantages companies that adopt more conscientious practices have over other still lagging behind, by reading our free report.
To share the message about their good works to both customers and employees, many companies seek certifications and labels for their products and services. Despite concerns about customer confusion, third-party-verified labels, ratings and certifications, including fair trade, organic, and B Corporation certification, provide documented value to many successful businesses.