Article by Tiffany Delmore at Entrepreneur.com
Image by Clint Patterson on Unsplash
In an age of B corporations and the triple-bottom line approach to running a company, there’s a lot of focus on what conscious capitalism can do for people, the planet and profits. Conscious corporations create more sustainable operations, socially responsible supply chains and stronger brand images. In a study lasting a decade, brands that placed a focus on conscious capitalism enjoyed returns 10 times higher than the S&P 500.
Most often, conscious capitalism is lauded as a potential differentiator that helps businesses stand out in a crowded marketplace. And there’s solid evidence that an increasing number of consumers prefer social good. A 2015 survey from Nielsen found that 66 percent of consumers would pay more if a business supported a social or environmental cause, representing a 16 percent jump from 2013.
Well, guess what? Those consumers who are interested in supporting conscious business practices are probably employed somewhere. Chances are good that they’re part of your workforce.