For many businesses, it’s all about the last line on the balance sheet—the bottom line—what cash is left over to be reinvested or paid out to shareholders. And while profitability drives leaders of all organizations, many are proving that you don't have to sacrifice values to be profitable.
To celebrate the Thanksgiving holiday, we are highlighting three companies who know a thing or two about incorporating values into their business strategy. In addition to putting high quality yogurt on the shelves, these organizations are making the world a better place, one cup at a time.
Chobani
Chobani founder Hamdi Ulukaya’s approach to human capital is specifically designed to empower his employees. Chobani employs refugees from Africa and the Middle East resettled by the United States in both its Idaho and New York manufacturing facilities, helping them with both transportation to work and translators on the job. Additionally, in 2016, Ulukaya announced that he was turning over 10 percent of the then-estimated $5 billion company to its 2,000 employees in an ownership move which is known as an employee stock ownership plan (ESOP). For some employees, particularly those who had been with Chobani since its early days, the deal provided them with stock worth over $1 million each.
In addition to the change in ownership structure, Chobani also embraces a mentality that emphasizes the “how” in the manufacturing process. The company follows the mantra, “A cup of yogurt won’t change the world, but how we make it might,” in its production processes by sourcing milk from local farms and recycling its whey byproduct as feed and fertilizer for local farms.
Ben & Jerry’s
Ben & Jerry’s greatest contribution to the world might be the invention of cookie dough ice cream, but the ice cream and frozen yogurt company is also known for its commitment to environmental and social issues. The company reduces the environmental impact of its business with a carbon offsets program for its manufacturing facilities, and it also purchases brownies from Greyston Bakery, whose mission is to provide jobs and training to low-income residents of Yonkers, New York.
In October, Ben & Jerry’s signed the Milk with Dignity agreement, a contract with farm worker leaders from Migrant Justice, an organization that promotes human rights and food justice. The agreement will provide economic relief to farm owners and ensure proper working conditions on the farms that supply milk to Ben & Jerry’s. Milk with Dignity makes Ben & Jerry’s the first company in the dairy industry to agree to a human rights program driven by workers.
Stonyfield
Stonyfield further cemented its mission of “healthy people, healthy food and healthy planet” in March of 2017 when it became a Certified B Corporation. B Corporations are organizations, recognized by the independent B Lab, that have committed to using business as a force for good. A B Corp Certification requires businesses to undergo an assessment that shows the company meets certain social, environmental, accountability, and transparency standards.
However, the yogurt giant was doing good long before it attained its status as a B Corp. At its inception 30 years ago, Stonyfield sold yogurt so it could help fund a school to teach organic practices to local farms. Upon success with the yogurt, the founders realized there was more room for impact by building a company based on sustainable practices—and that’s exactly what they did. Whether it’s producing its own renewable energy or providing transparent sourcing maps, Stonyfield has been leading the charge in proving that bottom lines can grow because of, rather than in spite of, planet- and people-friendly business practices.