Supporting people and planet in crisis
Donald Moore, Chair of One + All, recently talked to our UK for Good members about the impact of the cost of living crisis on employees.
He suggested that business leaders that, rather than second guess - they take time to ask their employees how they are feeling about additional financial pressures.
Recent research by the Better Business Act Campaign and B Lab UK considers how business can support people and planet during the current cost of living crisis.
The results illustrate the power of a business to act as a force for Good when we most need it, and that those businesses doing good are doing well.
Indeed the majority (60%) of purpose-led companies are confident about their growth over the next six months, compared to just 44% of non purpose-led businesses.
So how can your business make more of a difference?
Here are some simple and effective suggestions taken from ‘The Power of Business’ produced by B Lab UK and The Better Business Act.
Supporting your colleagues
Complete an anonymous survey of your employees to help you understand how they are affected by the cost of living crisis. Donald Moore shares his version here
Pay the UK Real Living Wage - Almost 5 million people in the UK are paid below the Real Living Wage and many are faced with the choice between heating and eating.
Education - confidential financial coaching can help your employees better manage their budgets
Supporting your communities and households
Offer colleagues opportunities to volunteer for charities who are supporting those most affected in your local communities;
Support the work of local food banks and homeless charities
Compile a directory of organisations that can help colleague and customers such as the charity ‘Turn to Us’?
Supporting small businesses
Seek out local suppliers and offer them more flexibility and security?
Can you extend your worker benefits packages to any individual consultants and freelancers you work with?
Does your business have products or services that you could share with small businesses? ad space, office supplies, consulting services, shared office space
Accelerate Climate Action
Measure your carbon footprint and commit to Net Zero
Consider how you can accelerate reduction in energy use - reducing temperature, turning off lights, replacing bulbs with LED lights
Reduce or eliminate single-use plastic from the office
Help employees working from home understand and improve their carbon footprint
Influence government and amplify your voice
What are the campaigns, alliances and coalitions your business can join or support to demand action from government?
The Better Business Act Coalition and Business Declares are organisations UK for Good supports and which can help amplify your voice.
Now more than ever do we have a responsibility to use our businesses as a force for Good.
Because if not us then who, and if not now then when?
You can download the full report here