What A Socially Conscious Business Is & Why Your Business Should Be One

Updated: Oct 1, 2019


By Hannah Elauria


According to a Net Impact Survey in 2012, 65% of university students expect to make a difference socially or environmentally at some point in their adult career, and 58% would agree to a 15% pay cut to work for a company who has similar moral obligations as them. What a concept! As more and more millennials and younger generations saturate corporate America, it is imperative to highlight the benefits of running a socially responsible company.

So what is a socially conscious business? These are the companies and brands who are in business to make a difference in the world, not just for profit.


ETHICAL

These businesses are ethical to their workers, meaning they give their employees fair wages, and provide them with ethical working standards. For example, Alternative Apparel is a fashion company dedicated to respecting the rights of workers in all countries and believe in the right to fair and safe workplace conditions. Their factories operate in accordance with the Fair Labor Association Workplace Code of Conduct and they make over 70% of their garments with sustainable materials and processes—something fast fashion companies such as H&M and Forever 21 are reluctant to do in pursuit of a larger profit margin. From top to bottom management, these companies rely on their ethics and values as a pillar of their decision-making.


ADVOCATES FOR THE PEOPLE