The rising power of B Corps

Bold, brilliant and good for business – the rising power of B Corps.

Discussing the benefits of B Corp status for your business or organisation.

B Corp certification is a hallmark of quality, and a seal of approval for all-round brilliant businesses – organisations that are great places to work, and who are doing awesome things in the world around them. It’s showing evidence to the outside world that your company is responsible and purpose-led, which, in turn, helps attract employees and clients who are seeking to work with such organisations.

According to the B Corp website, “Certifying as a B Corp means joining a community…with a shared belief that business can be a benefit to the world and for the people who live in it. The most challenging problems cannot be solved by governments and non-profits alone…”

You may be asking what B Corps have to do with finance, or more likely, what finance has to do with B Corps. The answer to this question lies in the driving force behind the B Corp movement: i.e., the increasing expectation of consumers wanting more from the companies they interact with; no longer is it enough to simply provide a good service or a satisfactory product. People today want to see organisations taking social responsibility, looking beyond profit, and considering their people and the planet too. That’s why attaining B Corp status is a bold way for any organisation to show they take all their responsibilities seriously.

Becoming a B-Corp

As a side note, for finance professionals looking to explore ways in which they can work to positively impact society and the environment, why not tune into Core 3’s Conscious Finance Podcast? You’ll find it on Spotify here (also available on other podcast channels). This podcast challenges the stereotypes surrounding finance and shows how finance leaders can inspire real change.

And, if you need a great consultant to demystify B Corp and help you through the process of becoming one, Andy Hawkins at ‘Business On Purpose’ works closely with companies to secure B Corp status. Andy helps to create the policies and processes needed, and his insights and guidance are invaluable. Becoming a B Corp isn’t as far away as you might think if you have the right people around you.

In days gone by, accountants probably would not have been associated with sustainability, nor would they have needed to know the meaning of such terms as ‘ESG’ or ‘Net Zero’. Although traditionally concerned with control, figures, and holding a back-office role, finance teams looking to the future are now switching up and viewing themselves in a whole new light. Accountants really can impact decision-making for the greater good in so many ways and even help to make the pursuit of B Corp certification achievable.

The B Corp framework provides a North Star and universal point of reference, not only for the organisation but for those who look after its finances. Too often, finance professionals don’t give themselves enough credit for the huge amount of influence and impact they have. You can use your position to hold the mirror up and reflect what the organisation as a whole is doing.

Finance brings authenticity to aspirations, and this is where the two worlds of profit and purpose aren’t as disassociated as they first seem. Finance teams have a unique 360-degree view of businesses, and working at the heart of operations, they are strategically positioned to bridge the gap between the two worlds. Those in accounting jobs, with their checks and measures, are able to hold companies to account in terms of equality, diversity and inclusivity for their people, as well as to help drive the economic, environmental, and sustainability measures that ultimately impact the planet; they can therefore play a pivotal role in their organisations’ attainment of B Corp status.

Accountants have a seat at the table by default, and are a well-respected and recognised team who speak a language that is universal. Once a business has defined its purpose, accountants can step in to explain how to measure and quantify it. Without measurements in place, a purpose can simply become a slogan on the wall with no practical outworking at all. Finance teams can get in on this action by recognising organisational goals and setting the bottom line not just for profits, but also for the investment in people, and in sustainability measures that impact the planet.

Ultimately, most businesses want to drop more profit to the bottom line to fill the pockets of shareholders, but the difference with B Corps is that they also want to make money for things such as investing in innovation within a supply chain, or creating financial headroom to pay fair premiums for raw materials. A B Corp’s purpose becomes legitimate through the delivery of sound financial performance. Authentically purpose-led brands have a competitive advantage in the marketplace, and it’s not just an idealistic pursuit; there is a financial case for it too.

‘Accounting jobs near me’…

And for those hopefuls typing ‘accounting jobs near me’ into Google, finding a role that aligns with your personal purpose may be more of a possibility than you realise. Finding an accounting job nearby in a B Corp organisation is an exciting prospect indeed!

Attaining B Corp status says that you prioritise people and the planet over profit and makes you stand head and shoulders above the crowd. Anyone googling “accounting jobs near me’ can apply a B Corp filter and quickly find you, a business that has chosen to use their business as a vehicle by which their purpose impacts the world. And, to be honest, what better work environment would anyone want to be a part of?

At Core3, we specialise in connecting finance professionals with the right teams, and as a B Corp we always donate a percentage of our income to causes that benefit the people in our communities and the environment in which we live. So, if you are looking for finance professionals to complete your team and enjoy doing your bit for charity (we’ll do that bit on your behalf), please do get in touch.