Approximately two years ago the New York City Department of Health and Human Welfare started placing ratings in the street side windows of restaurants and fast food shops. The Seal of Approval is a big bold “A”. But when a something does not pass muster, the ratings fall to “B” and, in the worst case, “C”. When I walk up to a B or C I typically move on. It's a pretty powerful process.

Similarly, there is now a rating bestowed on employers by a nonprofit organization called B Lab, which has been certifying for-profit companies with a “B Corp” logo, and it carries weight. Company applicants are evaluated on their treatment of employees, their impact on the community and the environment. Thus far, 859 companies proudly tout their rating and include the B Corp logo on their corporate collateral and website.

Recent studies have shown that millennials—people between 25 and 32, place especially high value on the chance to make a social impact through work, and the B Corp has become the gold standard. Now I wonder, if a Company flunks the test, must it show the “F Corp” rating, highlighting its grinding work hours for low pay, and to hell with the community and the quality of our water?

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.