Part 2 of our blog series with our certification, accreditations and memberships partners to help demystify their world and help both ethical businesses and consumers understand their value.
Our goal is to empower businesses to understand how these organisations can help evidence and communicate their commitments, practices and impact and to increase consumer understanding in how these organisations can help them trust business claims and how they become accredited. Peeling back the curtain, we're striving for a new level of transparency in the certification, awards and memberships space.
Who are we hearing from today?
Jenny Herrera, the CEO of the Good Business Charter.
What is the Good Business Charter's mission?
We recognise, champion and encourage responsible business behaviour for the benefit of people and planet.
Our mission is to raise the bar on business behaviour through our accreditation process which sets a benchmark for what responsible business behaviour looks like. Accreditation requires commitment to all 10 components and this framework of minimum standards means that businesses are changing behaviour in order to achieve accreditation in certain areas. For example, they commit to paying the real living wage or to improving their systems to ensure they pay their suppliers promptly.
Accreditation from the Good Business Charter (GBC) serves as a clear indicator that distinguishes organisations committed to its 10 components from those that are not. Accredited organisations are part of a movement for a fairer, more sustainable world where people matter.
How does accreditation with the GBC help the success of a business? What support do you offer?
Accreditation with the Good Business Charter can greatly benefit a business in several ways:
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Enhanced reputation: Being accredited by the GBC demonstrates a commitment to ethical and responsible business practices. This can enhance the reputation of the business among customers, employees, investors and other stakeholders.
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Competitive advantage: Accreditation with the GBC can serve as a competitive differentiator in the marketplace. Consumers increasingly prefer to support businesses that demonstrate social and environmental responsibility, giving accredited businesses a competitive edge.
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Attracting talent: Accreditation with the GBC can help attract and retain talent. Employees are increasingly seeking employers that prioritise values such as sustainability, fairness and social responsibility.
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Customer loyalty: Customers are more likely to remain loyal to businesses that demonstrate a genuine commitment to responsible practices. GBC accreditation can help foster trust and loyalty among customers, leading to repeat business and positive word-of-mouth recommendations.
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Demonstration of values: Accreditation with the GBC allows businesses to publicly demonstrate their commitment to values such as fairness, transparency, and environmental stewardship. This can resonate with consumers who increasingly seek to align their purchasing decisions with their personal values.
How can a business become accredited and join GBC? Does it cost anything?
The application process is a simple, online self-certification with questions that include our 10 components for accreditation. Once applicants have read what the requirements are for their organisation’s sector and size, they can work through the questions for self-certification and accreditation fees are kept deliberately low to make it as accessible as possible. We will then get in touch with any queries we have going forward.
Why do you think ethical and sustainable business is important right now?
Ethical and sustainable business practices are particularly crucial in the current climate for several reasons:
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There's a heightened awareness and growing confidence in the importance of ethical and sustainable business practices. Over the past year, there has been an increasing amount of recognition towards the significance of working alongside others to establish responsible business behaviour as the norm in the UK.
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The GBC's 10 components align with what the public expects from businesses. These components cover a range of areas, including fair treatment of employees, paying your fair share of tax, environmental responsibility, and ethical sourcing, reflecting the values and concerns of consumers and employees.
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Too often the S is neglected in talk of ESG. The GBC focuses heavily on social responsibility in line with its value of putting people first. The GBC recognises the importance of treating employees well and champions good work practices, such as fair wages, fair hours, and employee representation.
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Statistics show that:
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54% of people in poverty are in a household where atleast one adult is in work
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Currently, an estimated 3.5 million UK jobs are paid below the real living wage
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3.9 million people are in insecure employment
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50% of below Living Wage workers have less than a week's notice for shifts, hours, or work schedules
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The average rate of employee absence stands at 7.8 days per employee per year
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70% of people would rather shop with and 72% work for businesses that can prove they are paying for their fair share of tax
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Spending on ethical products grew by almost 35% in 2021, to £141.6 billion from £106 billion the previous year
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Nearly 80% of FTSE100 companies fail to provide a figure for their ethnicity-based pay gap
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The tax gap is estimated to be £35.8 billion, which is 4.8% of theoretical tax liabilities
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What led you as an individual to join GBC?
I have had the privilege of working with our founder, Julian Richer, for many years, helping him establish different charity ventures. One of those, Acts 435, helps people in the UK who are impoverished of which an increasing number are because of low wages and insecure work. The Good Business Charter presented me with an opportunity to approach this issue from the other side, as we seek to champion businesses who treat their people well and encourage others to follow their lead.
What aspects of In Good Company's work resonated with your GBC's mission?
In Good Company is putting into practice exactly what we believe consumers want to see – a clear way to identify which local businesses are behaving responsibly and ethically. We are excited to work with them as they develop a clear signpost for local consumers as to who in their area is responsible and ethical.
We are of course biased but we would hope that users of In Good Company’s app would give even higher value to a business that has achieved GBC accreditation, recognising the all-encompassing nature of the accreditation across a whole spectrum of areas that really matter.
If you shop with a GBC organisation you know they:
1. Pay the real living wage
2. Offer fair hours and contracts
3. Care for their employees' wellbeing
4. Ensure there is employee representation
5. Are committed to equality, diversity and inclusion
6. Are seeking to minimise their environmental impact
7. Pay their faire share of tax
8. Are committed to their customers
9. Ethically source their supplies
10. Pay their suppliers promptly
We hope many consumers will reward these responsibly led companies with their business.
Do you have a favorite 'good' business? How did you find out about them?
I am a terrible at-home person who tends to avoid shopping at all costs! After the pandemic I would say we tried to focus on local providers when choosing somewhere to eat out, for example. We would also look over a business’ website and browse visitor reviews to establish if they were a local provider or part of a larger chain.
Enjoyed this post? Keep an eye out for more of our upcoming blogs demystifying the certifications space.
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