Speaking at the TTG Luxury Travel Summit in London on Friday (7 October), Sam Clark, founder and managing director of Asian specialist Experience Travel Group, said: “Being B Corp definitely helps with recruitment. Over and over again, we hear that B Corp is helping attract talent and at a time when there’s a recruitment squeeze, that’s huge.” The specialist became a B Corp in July.
Duncan Grossart founded conservation experience specialist Journeys With Purpose in 2019, and achieved B Corp certification in February 2022. He added: “One of the most powerful reasons for becoming a B Corp is to keep your staff, as it helps them believe in your mission.”
LA-based product design firm MaCher has been a certified B Corp since 2014. Founder and president Derek Hydon said 80% of B Corps report higher profitability and lower attrition rates of staff.
Hydon explained that in order to become certified businesses are required to complete a detailed impact assessment, covering governance, their workforce, the environment, the community and their customers. Questions are tailored to each business and must be supported by evidence.
The panel advised those going through the process to seek guidance from some of the 6,000 current B Corps, 1,000 of which are based in the UK.
Grossart said while Journeys With Purpose hasn’t seen high-net-worth individuals become clients because the organisation is a B Corp, it does have an impact. “They buy into our mission and what we’re about,” he added.
Hydon said while consumer awareness of B Corp is limited in the UK, he expects it to surge. “The consumer will catch up, and by 2025 they will be demanding to do business with B Corps. They will vote with their wallets."
